Optoro partners with Groupon to increase recovery and build a more sustainable supply chain
Optoro, the leading platform for returned and excess inventory, has announced that it has partnered with Groupon, a global leader in local commerce, to process returned and excess inventory for the Groupon Goods business.
This new solution, implemented on-site at Groupon's fulfillment center in Hebron, KY, allows Groupon to easily and efficiently handle returns by cutting out unnecessary middlemen and reducing waste.
Optoro, Inc. is a technology company that is transforming the way retailers process, manage and sell their returned and excess inventory. Through comprehensive, world-class data analytics, Optoro's software platform determines the best path for returned and excess goods, maximising recovery value, enabling consumers to get great deals, and reducing environmental waste.
Andrew Bowerman, Vice President of Logistics, Groupon Goods said: "At Groupon, we are always looking for innovative partners that will help us become a more sustainable, profitable, and community-oriented business. The Optoro solution enables us to do all three by reducing waste and carbon emissions in the supply chain, increasing recovery, and providing consumers with great deals."
Traditionally, returned and excess items are shipped multiple times over the course of many months before reaching an end consumer -- losing value and creating unnecessary waste. Optoro's software solution helps retailers optimise the management of returned and excess inventory by processing, sorting, and selling these products in a much more efficient and cost-effective way.
Tobin Moore, CEO of Optoro said: "We're excited to work with Groupon to address the business, logistical, and sustainability challenges related to returned and excess inventory. The use of Optoro's technology is increasing value for our clients, providing great deals for consumers through our Blinq brand, and helping the environment by keeping high quality goods out of landfills."
Elon Musk's Boring Co. planning wider tunnels for freight
Elon Musk’s drilling outfit The Boring Company could be shifting its focus towards subterranean freight and logistics solutions, according to reports.
A Boring Co. pitch deck seen and shared by Bloomberg depicts plans to construct wider tunnels designed to accommodate shipping containers.
Founded by Tesla CEO Musk in 2016, the company initially stated its mission was to offer safer, faster point-to-point transport for people, particularly in cities plagued by traffic congestion. It also planned longer tunnels to ferry passengers between popular destinations across the US.
The Boring Co. completed its first commercial project earlier this year in April. The 1.7m tunnel system is designed to move professionals between convention centres in Las Vegas using Tesla EVs. It says the Las Vegas Convention Centre Loop can cut travel time between venues from 45 minutes to just two.
Boring Co.'s new freight tunnels
The Boring Co.'s new tunnel designs would allow freight to be transported on purpose built platforms, labelled as “battery-powered freight carriers”. The document shows that, though the containers could technically fit within its current 12-foot tunnels, wider tunnels would be more efficient. Designs for a new tunnel, 21 feet in diameter, show that they can comfortably accommodate two containers side-by-side, with a one-foot gap between them.
The Boring Co.’s new drilling machine, dubbed Prufrock, can tunnel at a rate of one mile per week, which is six times faster than its previous machine, and is designed to ‘porpoise’ - mimicking the marine animal by ‘diving’ below ground and reemerging once the tunnel is complete.
Tesla’s supply chain woes
Tesla is facing its own supply chain and logistic issues. The EV manufacturer has raised the price of its vehicles, with CEO Musk confirming the incremental hike was a result of “major supply chain pressure”. Musk replied to a disgruntled Twitter user, confused as to why prices were rising while features were being removed from the cars, saying the “raw materials especially” were a big issue.
Car manufacturing continues to be one of the industries hit hardest by a global shortage in semiconductor chips. While China’s chip manufacturing levels hit an all-time high in May, and the US is proposing a 25% tax credit for chip manufacturers, demand still outstrips supply. Automakers including Volkswagen and Audi have again said they expect reduced vehicle output in the next quarter due to a lack of semiconductors, with more factory downtime likely.
Top Image credit: The Boring Company / @boringcompany