Supply & Demand Chain Executive, the only publication covering the entire global supply chain, selected Newmine, the leading provider of returns reduction and returns intelligence technology for retailers, as one of this year’s Top Tech Startups. This year’s winners play across different market sectors, however, AI-powered automation and real-time transportation visibility make up the majority of winners (35% and 33% respectively), bringing in $1 million to $20 million in revenue per year.
“From seed funding rounds to the launch of new solutions, many of today’s tech startups are poised to revolutionize the supply chain space. They are introducing new innovations, improving user experiences and striving for a safer, smarter and more efficient supply chain,” says Marina Mayer, Editor-in-Chief of Food Logistics and Supply & Demand Chain Executive. “The future of the supply chain industry will be directly impacted by the development of these new technologies and I’m very excited to see what’s next for these winners.”
Newmine’s Chief Returns Officer solution is a platform that supports the continuous improvement of a retailer’s bottom line through revenue protection, margin improvement, reduced operational costs and improved inventory management. The technology is designed to address the challenges that returns pose to retailers worldwide, which is estimated to cost the industry more than $700 billion annually.
“Our team is honored to be listed with other innovators in the broader retail ecosystem and is committed to providing businesses with comprehensive solutions to one of their biggest challenges – product returns. This award validates our efforts to help our customers avoid returns before doing Happen work,” said Navjit Bhasin, Founder, and CEO of Newmine.
