What does 'Returns Management' mean?

In retail and e-commerce, returns management entails interacting with customers who want to return a product and collecting, arranging, and restocking inventory that has been returned or exchanged. Customer service, logistics, and inventory management all play a role in the returns management process. Returns management is not used for every client order and extends beyond the final delivery. You may drastically reduce losses by using undamaged returned items to replace warehouse inventory by carefully vetting and sorting returned products and working closely with suppliers. The proper implementation of this process allows management to manage the reverse product flow properly, discover possibilities to prevent unwanted returns, and maintain control over reusable assets like containers.