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AtricleZine - Investment Recovery and Surplus Asset Sales - the Overlooked Opportunity
Most marketing people think of newsletters as quaint old things, like handwritten letters or mimeograph machines. While marketing is not immune to fads, newsletters are an absolute evergreen. After all, how can direct communication with your customers ever be a bad thing? And if you do it right, your customers will actually look forward to hearing from you!One reason newsletters are so hot is that no one is doing them. Some marketers may think they're hopelessly old school. Others may have tried to do them and failed (they're harder than they look). And still others are so buried under the avalanche of everyday emergencies that doing something as benign and friendly as a newsletter sounds almost unproductive.Newsletters are powerful. Think about what they are for a minute: it is a way for you t
So, whether the asset sells for $4,000 or $30,000 or is scrapped there is no tracking, no performance incentive, and the investment recovery that was lost or gained, goes un-noticed. Is there any other place in your company where you could save, or lose $200,000 a month and not notice? It happens all the time, even in otherwise well run companies. I’ve met with engineers who admit they scrap equipment rather than have t
Pepper spray is an inflammatory agent which is used to inflame the eyes and cause breathing difficulties, which in turn can cause a person who is attacking you to be put into a position where they are unable to cause any damage to you or your property. When a person is sprayed their eyes will literally clamp shut meaning they cannot see at all. If the person is standing, they will immediately be brought to their knees in a coughing fit and will be left with the ability to breath only small amounts of air, enough so that it is uncomfortable, but not restricted so much that it is life threatening.Although the effects of pepper spray depend on the strength of the spray, you can generally expect to disable your attacker for around 30 minutes, which should give you an adequate amount of time to contact the
Every business eventually has items they no longer need. For some businesses this may be machine tools, processing lines, and even complete plants, while for others it’s overstocked inventory, end of life products, computers or vehicles. Most everything that flows through the billion dollar purchasing channels and supply chains of the world will some day be discarded or sold. In some situations these items may be relatively new and still in original packaging or recently installed, while in other cases the asset may be 50 years old and held together by duct tape. Managing items when they arrive at the end of their initial planned use is something that I, and others, call the Disposition Chain Management. This function is also referred to as “Investment Recovery” or “Surplus Asset Management”. By whatever name you call it, this is one of the single largest overlooked areas for most businesses.
The Missed Opportunity
Think of all the technology, resources and effort applied to purchasing management. The purchase of a $20,000 asset will likely involve certified purchasing managers, an RFQ, pre-approved vendors, multiple bidders, advanced purchasing systems and a well structured process to approve the purchase. If the $20,000 budgeted asset is purchased for $19,000 through these efforts the $1,000 savings is important and measured cost avoidance. Now consider the sale of a used piece of equipment with a market value of $20,000. In many company’s this task will be delegated to someone with little experience in asset sales. In addition, there are few controls on vendors, no standard bidding process, and there may be no formal approval processes for the transaction.
So, whether the asset sells for $4,000 or $30,000 or is scrapped there is no tracking, no performance incentive, and the investment recovery that was lost or gained, goes un-noticed. Is there any other place in your company where you could save, or lose $200,000 a month and not notice? It happens all the time, even in otherwise well run companies. I’ve met with engineers who admit they scrap equipment rather than have t
MERRITT ISLAND FL-Most folks would be a little annoyed with a windy rainy gray Florida day. But not Tinho Dornellas. Tinho is an expert windsurfer and his life’s dream is to teach you how to be a windsurfer.This thirty-nine year old father of two boys operates out of an obscure Merritt Island, Florida shop in an area where most folks would think of storing furniture rather than buying a sailboard and learning how to use it.His shop is a few miles down the road fromthe legendary Ron-Jons Surf Shop in Cocoa Beach, Florida. But, Ron-Jon’s isn’t interested in Tinho’s share of the adventurous windsurfer market. To them, windsurfing is a little too tough for the tourists passing through on their vacations.Like so many others have discovered, it takes more than inventory to bei
The Missed Opportunity
Think of all the technology, resources and effort applied to purchasing management. The purchase of a $20,000 asset will likely involve certified purchasing managers, an RFQ, pre-approved vendors, multiple bidders, advanced purchasing systems and a well structured process to approve the purchase. If the $20,000 budgeted asset is purchased for $19,000 through these efforts the $1,000 savings is important and measured cost avoidance. Now consider the sale of a used piece of equipment with a market value of $20,000. In many company’s this task will be delegated to someone with little experience in asset sales. In addition, there are few controls on vendors, no standard bidding process, and there may be no formal approval processes for the transaction.
So, whether the asset sells for $4,000 or $30,000 or is scrapped there is no tracking, no performance incentive, and the investment recovery that was lost or gained, goes un-noticed. Is there any other place in your company where you could save, or lose $200,000 a month and not notice? It happens all the time, even in otherwise well run companies. I’ve met with engineers who admit they scrap equipment rather than have t
Introduction;A few years ago my wife and I used to work for a major retail company, we held positions of supervisor and manager respectively. We both wanted to start our own company but we were scared of the financial implications that it will have on our lives. Eventually we left the company, we still wanted to start our own company but we did not have the money or the resources to get started. That is when I started to do alot of my research.You would still have to spend money;When you look at this corporate credit building companies out there no tell you that you will have to spend money anyway, or some some programs cost you way too much. I will tell you the most that you may need to spend. $500 if you have purchased one my corporate credit building
The Missed Opportunity
Think of all the technology, resources and effort applied to purchasing management. The purchase of a $20,000 asset will likely involve certified purchasing managers, an RFQ, pre-approved vendors, multiple bidders, advanced purchasing systems and a well structured process to approve the purchase. If the $20,000 budgeted asset is purchased for $19,000 through these efforts the $1,000 savings is important and measured cost avoidance. Now consider the sale of a used piece of equipment with a market value of $20,000. In many company’s this task will be delegated to someone with little experience in asset sales. In addition, there are few controls on vendors, no standard bidding process, and there may be no formal approval processes for the transaction.
So, whether the asset sells for $4,000 or $30,000 or is scrapped there is no tracking, no performance incentive, and the investment recovery that was lost or gained, goes un-noticed. Is there any other place in your company where you could save, or lose $200,000 a month and not notice? It happens all the time, even in otherwise well run companies. I’ve met with engineers who admit they scrap equipment rather than have t
Fire exits should be strategically located, with an outward opening door that has a crash bar and outward leading signs on it. Knowing where to find the emergency exits in a building that you frequent can save your life. Inward opening, rotating and sliding doors are unacceptable for use as fire exits, as they might need to be fixed open using a latch or chain if the door is needed as an exit route.In the UK, one exit is satisfactory for buildings where no more than 60 people work, as long as that the building is on the ground floor level only. The outsides of fire exits need to be kept clear and marked with a suitable keep clear sign. Whenever the building is in use, the exits should be well lit by normal mains lighting. Once your workplace follows a course of scheduled assessment, unsafe conditions
So, whether the asset sells for $4,000 or $30,000 or is scrapped there is no tracking, no performance incentive, and the investment recovery that was lost or gained, goes un-noticed. Is there any other place in your company where you could save, or lose $200,000 a month and not notice? It happens all the time, even in otherwise well run companies. I’ve met with engineers who admit they scrap equipment rather than have t
For many people, the possibility of selling goods online appears fraught with difficulties. Firstly, you need to locate a product, store inventory, organise a good shipment or carrier company and so forth. But what if you could become a successful online retailer without having to worry about those problems?The answer is that you can…a simple type of retail called drop shipping. Let us take a look at the pros and cons of this method of retailing.Drop shipping is the name given to the retail method where you sell a product at a price of your choice but do not keep the products in stock. You collect the payment from the buyer and pass the order onto the supplier who despatches the goods on your behalf. You pay the wholesale price to the supplier and the difference between that and what you have b
So, whether the asset sells for $4,000 or $30,000 or is scrapped there is no tracking, no performance incentive, and the investment recovery that was lost or gained, goes un-noticed. Is there any other place in your company where you could save, or lose $200,000 a month and not notice? It happens all the time, even in otherwise well run companies. I’ve met with engineers who admit they scrap equipment rather than have the company sell it because they feel it’s easier to scrap it and there’s no incentive to do otherwise. I’ve seen companies sell assets for less than 5% of their current value, and on more than one occasion buy the same exact item back at another plant for twenty times what they sold it for. And then there is all the idle equipment that nothing is done with while companies pay taxes and insurance on these idle assets, and their value disintegrates.
If you don’t think these issues are present in your world just walk the plant floor and talk to a forklift operator, open a few closets, follow up on the next asset being written off and see what happened. I’m not talking about a few hundred dollars here and there; this is low hanging fruit that can make a difference to the bottom line. If you look in enough places it will be there. In most cases it’s not that anyone is doing anything illegal or even intentional, it’s just that the process is either not in place or has issues.
Estimating the Opportunity
The used equipment industry is estimated at $100 billion a year so if companies are leaving even 10% on the table, that is significant. In most cases it’s a lot more than 10% but this issue still has not caught the attention of many CFO’s. For purposes of this article we’ll focus on two areas, used asset sales and idle equipment.
First, how much used or overstock equipment did your company sell last year, and how much can you improve that. For most companies, even many of those with an Investment Recovery department, the sale of used equipment is so fractioned that this will not be an easy number to find or estimate. For companies that already have a central program, additional focus on Investment Recovery will lik
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