Customer Problem / Need
The customer has over 400 industrial manufacturing and light industrial locations across the globe, with no standard process for the identification, management and disposition of idle and surplus assets.
- A lack of a single-consistent process and a company-wide policy to enforce it lead to compliance misses through local-supplier "deals".
- Cash proceeds being left on the table without a competitive bidding process.
- The risk of surplus assets being sold to unknown / unscreened buyers.
Chain worked with the customer to design a Surplus Asset Management program that scales globally, enabled by the people, process and technology to drive cultural change and a new proactive approach the identification, and redeployment (or disposition) of surplus assets.
- The customer appointed a single program owner, with executive-level sponsorship to coordinate program engagement across Finance, Supply Chain and Operations. By identifying all key manufacturing locations, the program owner drives engagement with key management and plant & equipment owners.
- Chain provided access to all customer employees (SSO-enabled) to AssetLink, our cloud-based system facilitating the capture and specification of assets. With over 10 supported asset classes and 100 categories, AssetLink allows the customer to quickly capture assets using web browser, spreadsheet (Fixed Asset Register import) or Mobile (available for iOS and Android).
- AssetLink has an in-built Redeployment Marketplace and Equipment Needs features, allowing users across the company to browse available assets across the globe as well as notify other users of a need for a piece of equipment. Proactive digest emails, and in-app notifications drive engagement company-wide and across product line groups.
- An annual process to identify and review idle assets across all manufacturing facilities, drives a proactive conversation about manufacturing needs and asset utilization as well as periodic valuations to support insurance requirements and fixed asset accounting.
- AssetLink is securely connected to our global auction platform and marketplace, faciliating expertly-managed Remarketing Projects, supporting Private Treaty (negotiated sales) for the largest, most complex assets, to multi-phase online auctions for thousands of assets and plant disposition activity.
- With KYC (Know Your Customer) screening built-in, and registration approvals, we're able to ensure only trusted and known buyers are permitted to buy, mitigating one of the largest risks to industrial manufacturers with unique (and often regulated) interlectual property.
The Chain team has managed thousands of idle and surplus assets for the customer, whether facilitating redeployment through AssetLink's Redeployment Marketplace, or dispositing of assets via a Remarketing Project.
- The program has returned $50MM+ in gross proceeds for the customer in the last two years, eliminating compliance issues and building a consistent approach to surplus assets.
- Saved $MMs in CapEx costs through internal Redeployment enabled by AssetLink.
A secure mechanism for disposing of a wide range of industrial assets (from singular to company-wide restructuing):
- Machine Tools
- Construction Equipment
- Material Handling
- Scrap Materials
- Interlectual Property (including Work in Progress / Scrapped Projects) requiring Certificates of Destruction
- and more...
Schedule a meeting with us to learn more about how we can implement a turnkey program for your organization.