parcelLab launches Returns Forecast AI to boost retailer visibility and control over returns process

parcelLab has announced the launch of Returns Forecast AI, a tool that leverages AI to estimate inbound parcels for retailer warehouses, with the aim of allowing retailers to forecast returns volumes and identify trend changes more accurately, better plan warehouse resources, reduce processing times and operational costs.

“The increasing number of returned parcels presents a unique challenge to retailers, who need better visibility to understand trend changes, manage staffing levels, reduce processing times and create effective distribution plans,” says Tobias Buxhoidt, Founder and CEO at parcelLab. 

“With Returns Forecast AI, we’re giving warehouse managers and logistics specialists the power to turn that challenge into a business opportunity with a tool they can self-configure to visualise patterns and measure percentage errors.”

“By reducing operational costs and improving financial planning, our Returns Forecast AI delivers a new level of transparency and returns forecast reliability by tapping into the power of predictive planning to make data driven decisions that will revolutionise the returns process and dramatically decrease operational costs for retailers.” 

The solution is a part of pL Retain, which helps retailers uplevel their returns, warranty, and exchanges process from paper to digital to improve the customer journey, generate brand loyalty, and create cross-sell opportunities.

Retailers can enable customers to easily register their returns, generate a label or QR code, track returns online, and receive proactive communications based on data defined segmentation.

Personalised emails and a customised Returns Status Page deliver end-to-end post-purchase communication to drive web traffic and repeat purchases.