Sections:

I.  Introduction

II. Instructions

III. Pricing

IV. FAQ


I.  Introduction


If you’re like most merchants, returns of products that aren't salvageable can be an issue.  The inventory will accumulate over time taking up space in our warehouse which ultimately costs your business money in storage and handling fees once you finally decide what to do with the product.  To alleviate these issues you now have the option to get paid for your returns that would otherwise be considered unsellable.


Luckily for you, we’ll be launching a partnership with Optoro, utilizing their technology to optimize the value of your returned inventory.




II.  Instructions


You will have 5 new options on how you'd prefer ShipMonk to handle returns...


New Inventory:  You'll be able to provide instructions on what would qualify a product as new Inventory and what would disqualify it.

  • Items that meet your criteria will be returned to inventory and used to fulfill orders
  • This is currently how we handle returns so this is not one of the five new options to select from
  • Items that are defined as not meeting the criteria for new inventory will go to your backup option


Rework:  Inventory may need to be reworked to meet your criteria before being used to fulfill orders.  There will be an additional charge depending on the amount of rework required. Some rework options you may pre-select are: 

  • Apparel folding and bagging
  • Returning items to inventory new without a box

  • Opening products and checking if seals are open or broken

  • Plug in/turn on electronics 



Return to Vendor:  Your Happiness Engineer will set up monthly shipments of unsellable returned inventory to an address of your choosing.  The product(s) will be stored under SKU returntovendor, storage fees will apply until the inventory is shipped.  Standard pick fees and shipping costs will be charged. 


Donate Inventory:  The return will be completed and the donation is handled as part of the returns process

  • Donations that aren't in the appropriate condition or are not an appropriate for donation will be disposed of (i.e, DNA kits, food, opened cosmetics, etc.)


Dispose of Inventory:  The return will be completed and the product will be disposed of immediately. 


Remarket or Liquidate:  Enable Optoro’s to smart route any items that are not eligible to be resold through your primary sales channel to the various marketplaces (typically Bulq.com) to maximize recovery and reduce aging.  Optoro’s proprietary algorithm will determine how to list your unsellable returns to capture the most revenue.





III.  Pricing


Return pricing will remain the same to process each return, but pricing for the corresponding process depends on the pre-selected option in your account.


Option

Fees

Notes

Return items to inventory as new inventory

Standard return fee.  Additional fee of $1.50 if the RMA needs to be created by our team. 

This is the current process for returns 

Rework and return item(s) to inventory 

Predefined per unit rate

Reworking is based on a $45/hour time study where we determine the rate per unit

Return to Vendor

Standard fees for picking and fulfillment

The monthly cadence is to ensure all items are not accumulating

Donate the inventory

Standard return fee.  Additional fee of $1.50 if the RMA needs to be created by our team.

We will donate the items during the return process so pick fees do not apply

Dispose the inventoryStandard return fee.  Additional fee of $1.50 if the RMA needs to be created by our team.

We will dispose the items during the return process so pick fees do not apply

Remarket of liquidate inventory through Optoro’s technology

Standard return fee.  Additional fee of $1.50 if the RMA needs to be created by our team.

The listing fee will include the post-sale pick fees and shipping costs






IV.  FAQs


How can I get pricing for a Rework?  

That's simple!  Reach out to your Happiness Engineer and provide them with some instructions on how you'd like us to proceed.  Not all requests will be approved however.


How can I choose where ShipMonk is donating my inventory?

ShipMonk will donate inventory locally whenever possible but is dependent on the inventory. You will not be able to select where your inventory is donated however.


What will happen to my existing unrestockable inventory?

You have five options for your existing unrestockable inventory:

  1. Perform a special project to rework the inventory
  2. Donate the inventory

  3. Ship the inventory back to you

  4. Liquidate using Optoro


What percentage of the retail value can I expect the unrestockable inventory to be sold for?

It varies from 5% - 20% of the retail value depending on the specific item, brand value, product condition and a handful of other factors.


What happens if Optoro determines that certain inventory cannot be sold? 

Everything has a price!  Optoro's proprietary algorithm ensures that all inventory is sold within 45 days of being posted.  


When a product is sold using Optoro how and when will the I get paid?

All transactions will be added to your ShipMonk account balance on a monthly basis via line items


How will ShipMonk handle returned inserts and packaging?

Returned marketing collateral and packaging will be disposed of at no additional cost nor are they counted towards the number of items returned.


What will happen to non-identifiable returns?

We will automatically send products we cannot identify (no SKU or barcode on the product) to the disposition of your choice based on the type of the product.


Can I choose different disposition options for each of my SKUs?

We currently only have the return settings on the account level, but we can absolutely change the disposition option on the SKU level if needed. Please contact your Happiness Engineer if you’d like to enable the per SKU option. 


Do I have to place an order in ShipMonk each month if I choose to have my inventory returned to me?

No way! That would be a waste of your time, so this will be set up with your Happiness Engineer initially and they will handle the rest moving forward.  


What happens if I do not choose an option for my unrestockable returns?

All accounts will be required to choose one of the five options for unrestockable returns. If you do not choose one of the options, your inventory will be returned to the address on file on a monthly basis until you update the disposition option in your Account Settings.


Can I list excess inventory that I have in stock to BULQ.com?

Yes, please provide your Happiness Engineers with following information to start this process:

  1. SKU 
  2. Is the product barcoded; yes or no?
  3. Product name
  4. MSRP
  5. Quantity of inventory
  6. Description of product


Do these disposition options work with Returnly?

Of course! Your customers can still generate returns via Returnly and your disposition options will take effect once the goods are returned to our warehouse.  You can read more about setting up a Returnly integration here!


What’s the catch?

The only catch here is all the revenue you’ll be reeling in from your unrestockable inventory. For the full terms of service, visit shipmonk.com/optoro-terms.