By products and waste materials are the parts of every manufacturing activity. These wastes can be a valuable input for various industry processes if handled properly and can cause the environmental damage if handled unprofessionally. It is usually assumed that supply based approach to recycling can disrupt the market equilibrium whose beauty reside on the well known demand and supply principle. Recycling industry is totally depends upon supply based approach because no one can predict the returns in a originating from different streams. Reverse logistics are the valuable input for the recyclers. This paper presents the framework of reverse logistics optimizing the stakeholders’ gain, social gain, economic gain and environmental gain. It identifies the roadblocks that prevail in recycling industry and describes various types of returns and wastes. This paper not only highlights the recycling activities but as well shares the best practices for effective implementation.