Steve Koenig

The “Internet of Things” was first coined by British visionary Kevin Ashton, describing how internet connected devices would change our lives. Today households have brands like Nest and Hive connecting their heating systems to the internet and there is no doubt that ore and more connected technology will be coming to your home in the near future. But there is an elephant in the room and that is a lack of industry standards. How will all of these devices talk to one another? Many critics point out that the benefits of a smart home are outweighed by the inconvenience of having to open separate apps for every major device. Many players in the industry have built and protected their own ecosystem rather than signing up for industry-wide standards that would benefit consumers. Many are predicting a repeat of VHS vs. Betamax and HD-DVD vs Blu-ray. Join us for a captivating discussion around the Internet of Things and the lack of standardization, including the implications for your returns business.

In this session Steve shares a number of consumer electronics trends that will impact reverse logistics operations in the coming year. While anticipating higher return volumes, companies also have to acknowledge the short lifecycle of tablets and smartphones and how that necessitates a rapid reverse logistics process and utilization of secondary markets to capture value with returned inventory. Companies are also recognizing the increasing importance of assistance during device setup and emphasizing ease of use to avert returns. The growing influence of social media in purchasing decisions – enabling more informed purchasing decisions and hopefully resulting in fewer returns – is another noteworthy trend.