Interesting project. How do you manage the process of product returns and refunds?
Dear Rdynamics,
Thank you for your question. When it comes to Business to Business (B2B) platforms there are two models to follow: In one model companies have insourced distribution and they manage it themselves, this is extremely expensive and operationally extremely intensive, it takes decades to master this model; Amazon is a clear example, note that the company needed many years and more than 6 billion dollars in Venture Capital. The Chinese or Japanese e-commerce giants, opted for adding strict mechanisms of control when it comes to managing the product cycle but the products are ultimately shipped by the seller. We have opted with this model because its faster and it is more compatible with the Chinese e-commerce giant that we want to emulate. In fact this system together with the escrow account (a system that guarantees payment and refunds in case the seller underdelivers) is exactly the way that this Chinese e-commerce giant is conducting business nowadays.
If you have more questions please dont hesitate to ask, we are happy jump at every opportunity that help us explain the UTEMIS business model better.