By improving the quality and speed of repairs in line with increasing expectations, companies stand to gain competitive advantage.
The efficiency of today’s repair models can be measured in two key ways.
The first of these is speed. Consumer dependency on technology has led to increasing expectations in repair lead times – in a world where almost everything is reliant on technology, consumers feel almost unable to function without their phones.
The second is quality. As customers become increasingly informed and more aware, quality becomes of utmost important to a company’s brand and reputation. Our research suggests that, due to a lack of confidence in their repair processes, companies sometimes hold excessive stock to fulfil repairs rather than provide customers with refurbished stock.
Businesses looking to reduce the costs associated with broken or faulty products should assess the capability of their repair processes in these two areas.
Delivering rapid repair to a high quality standard
Shifts in consumer behaviour mean that consumers can be persuaded to accept a repaired/ refurbished product if they believe the quality is as good as new.
This means it is possible for enterprises to satisfy their customers at a lower cost if they improve the quality of their repairs and the speed at which they can return them to the consumer—reducing costs whilst maintaining exceptional service levels.
Assess the capability of your repair processes with these key questions
Are you able to deliver high-quality repairs at a speed that delights your consumers?
The more rapidly a business can deliver repaired products to its customers, the better it will meet their expectations compared to its competitors.
Are you carrying excessive stock because you lack confidence in the quality of your repairs?
Excessive stock can be a significant drain on resources and a substantial cost to enterprises. Improving a company’s ability to repair products, even those otherwise deemed unrepairable, gives it the confidence to reduce its stock levels accordingly.
Are seemingly unrepairable products costing your enterprise? Is the speed at which you are able to deliver high-quality repairs limiting your ability to satisfy your customers? Taking steps to improve your repair model in these areas could help.