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May 24, 2012
by EquipNet News
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Asset Redeployment: Generate Cost Savings by Finding New Uses for Surplus and Idle Equipment

On average, it is estimated that approximately 5% of a manufacturer’s global installed asset base is idle at

any time, and most companies don’t have good visibility of their idle assets. As a result, companies end up buying machinery and equipment they already own. For multinational manufacturers, this can add up to tens of millions of dollars a year in needless spending. A cost-saving solution to this problem is to launch a formal asset redeployment program. Redeploying surplus and idle equipment internally can generate huge cost savings for a company.

Asset redeployment is the strategic relocation of assets from an idle or less profitable use to a more profitable use. Asset redeployment takes underutilized surplus and idle machinery and equipment, and changes how it is used in order to increase return on investment (ROI), or profitability. Rather than purchasing new equipment, a company utilizing a proper asset redeployment strategy and program can redeploy surplus or idle equipment in one part of the company to another part of the company, perhaps in another part of the world.

A formal asset redeployment program should:

  • Identify your surplus assets and track them in a central database
  • Make the assets visible internally, promote them to the most likely users, and intercept and prevent duplicate purchases
  • Facilitate the process of redeploying the equipment within the company

EquipNet’s proprietary Asset Redeployment Management System (ARMS™) is a customizable, web-based, secure software program that provides companies with the ability to post, track, find, redeploy, buy, and sell equipment that is not being used in its present location. ARMS features include workflow management and multiple security levels for plant managers and executives across the business.

Learn more about how EquipNet’s Asset Redeployment Management System enabled one client to conduct a large international asset redeployment, saving them a total of $7 million and invaluable time by eliminating the need of purchasing new equipment from various OEMs, in our post, “Transferring Pharmaceutical Equipment Internationally.”

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May 23, 2012
by EquipNet News
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Pharmaceutical Lab Closures

If you follow EquipNet on Twitter, maybe you read an article we recently linked to titled, “Canada hands Osiris historic approval for stem-cell drug.” The article was about Canadian authorities giving Osiris the stamp of approval for Prochymal, which is the first drug in the world that has a stem cell as its active ingredient. It is designed to help children who have graft versus host disease.

This is great news for Osiris, but not all pharmaceutical companies are so lucky. Often, pharmaceutical companies invest millions of dollars in state-of-the-art lab and analytical equipment to design and test a new drug; however, if the drug fails to receive regulatory approval, the company may have no choice but to shut down the lab. Other reasons for a lab closure could include funding withdrawal or a shift of the company’s focus away from the drug being tested in that particular lab. With so much invested in a pharmaceutical lab, in the event of a closure, the company should take care to deal with the valuable assets inside in a way that best benefits the company as a whole. If your company is facing a lab closure, EquipNet has experience helping both global companies and small firms make good decisions about their valuable equipment, and we can help you do the same. Check out our Lab Closure Resource Center for more information.
If you are not yet following us on Twitter, please do. We regularly update our followers on new company information, and link to articles we think those in the pharmaceutical, chemical, and consumer goods manufacturing industries would find useful. We’d love to see you there!

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May 21, 2012
by EquipNet News
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Your Computer Already Has One Cable in the Grave

Desktops. Laptops. Netbooks. Ultrabooks. If there’s one thing you can count on (besides death and taxes) it’s that your computer, no matter how new or cutting edge, is obsolete the moment you take it out of its box. And there is always something in t

he wings ready to replace it.

So where do these five-minute-old fossils go when you’ve moved on to something newer? Well, if you read our previous blog “Hulk Smash! (Discarded Digital Devices)” you know that they are — or should be — disposed of responsibly. Once you’ve bashed your personal information out of them, of course.

But do used computers have to go to the graveyard? Of course not! Just because they’re not the newest, fastest, or shiniest doesn’t mean they can’t be of some use to someone somewhere. Haven’t you ever heard of technology asset remarketing? EquipNet has!

We can get you the highest possible value for your surplus technology equipment. After evaluating your assets, EquipNet will figure out the best solution for your old tech.

And our technology asset remarketing isn’t limited to computers. We can work with you to find homes for all your used devices, and choose the appropriate sales channel that will maximize returns.

To learn more about how our Technology Asset Remarketing Service can help you, contact EquipNet Technology Services today!

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May 18, 2012
by Julie Baker
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EquipNet Celebrates 13 Years Helping Global Firms Appraise, Buy, Sell, and Manage Surplus Assets!

EquipNet has a lot to celebrate this month with its 13-year anniversary, the expansion of its equipment and business appraisal and valuation services, and the relocation of its headquarters to a new 110,000 square foot facility in Canton, MA.

Founded in Massachusetts in May, 1999, EquipNet has become a global leader in helping companies buy and/or sell their surplus equipment. The EquipNet workforce has grown from two original employees to its current staff of 115 people. The company headquarters are located in Canton, MA and has offices across the globe, including Canada, Latin America, the UK and Europe, India, and Asia.

The EquipNet MarketPlace has become the world’s largest online venue for buying and selling pre-owned laboratory instrumentation and manufacturing equipment in the pharmaceutical, biotech, chemical, food, beverage, and personal care sectors. EquipNet has helped local Boston area companies and global corporations be both ecologically green and economically wise by helping them purchase and/or sell their surplus equipment.

EquipNet also pioneered web-based software that helps global clients track their idle assets across multiple enterprises. Before ARMS (Asset Redeployment Management System) was put into action, many of these multinational companies purchased million-dollar pieces of equipment when the same item was sitting idle in another location. By gaining desktop access to the status of their equipment inventory, these corporate clients have reduced the risks associated with idle assets and avoided spending time and money locating and purchasing expensive items they already own.

Through an acquisition of SweetTrading in 2006, EquipNet launched its Technology Solutions division, providing clients with Department of Defense-level hard drive sanitizing, environmental recycling with certification, and technology asset tracking to help them responsibly and safely dispose of their surplus technology assets.

EquipNet expanded its auction capabilities with the acquisition of Advanced Asset Services, Inc. in 2007. Companies closing a facility or just interested in recovering the value of their surplus assets in a short timeframe, have the option to sell their equipment via live, webcast, online, or sealed bid auction. EquipNet hosts multiple auctions per month throughout the world.

EquipNet is now paving the way to become appraisal and valuation experts for the industries it serves, providing pharmaceutical, biotech, chemical, food, beverage and personal care companies with accurate information about the value of their business and industrial assets. With the recent acquisition of Present Value, EquipNet has dramatically expanded its offering of equipment and business appraisals and valuation services. The company has created a new multimedia section of the website at www.EquipNet.com/Valuations with a podcast, videos, a whitepaper, an ebook, and more.

EquipNet President and CEO Roger Gallo, is proud of where the company began and where it’s going. “We’ve grown in a very strategic fashion, keeping our eyes on EquipNet’s original mission and vision” explains Gallo. “We’ve expanded our services and the industries we serve but we are still focused on our mission to ‘create raving fans in everything we do’ and our vision ‘to revolutionize the way companies manage their surplus assets.’”

Gallo also plans to maintain EquipNet’s strong roots in Massachusetts. “In the 13 years we’ve been in business, we’ve moved several times from a small office in Randolph MA, to a bigger space in Braintree to our current Canton headquarters in order to accommodate our growth,” explains Gallo. “We’re now excited by the fact that we recently signed a long-term lease on a 100,000 square foot facility in Canton to accommodate our growth over the coming years.”

“We are proud of our commitment to the Boston area and our status as a local company that has consistently provided much needed jobs to local residents,” Gallo continues.

About EquipNet

EquipNet is a leading provider of proactive asset management solutions and services to leading corporations in the biotech, pharmaceutical, chemical, food, beverage, and personal care industries, such as Novartis, Johnson and Johnson, Sanofi Aventis, Merck and many others. EquipNet’s vision is to revolutionize the way companies manage their surplus assets by maximizing financial returns and minimizing the risks associated with idle capital assets. For more information, please visit: http://www.EquipNet.com.

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May 16, 2012
by EquipNet News
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Boston Consulting Group Forecasts Resurgence in U.S. Manufacturing

According to a recent report and survey released by The Boston Consulting Group (BCG), changing econ

omics are starting to favor the manufacturing of certain goods in the U.S. and more than a third of U.S.-based manufacturing executives at companies with sales greater than $1 billion are planning to bring back production to the United States from China or are considering it.

According to the survey, which was conducted in February, of the 106 decision maker respondents at companies across a broad range of industries, 37% said they plan to reshore manufacturing operations or are “actively considering” it. That response rate rose to 48% among executives at companies with $10 billion or more in revenues, which accounted for a third of the sample.

The top factors cited as driving future decisions on production locations were:

  • Labor costs (57%)
  • Product quality (41%)
  • Ease of doing business (29%)
  • Proximity to customers (28 %)

In addition, 92% said they believe that labor costs in China “will continue to escalate,” and 70% agreed that “sourcing in China is more costly than it looks on paper.”

These findings coincide with the BCG’s report released in March, U.S. Manufacturing Nears the Tipping Point: Which Industries, Why, and How Much?, in which BCG predicted that improved U.S. competitiveness and rising costs in China will put the U.S. in a strong position to add two million to three million jobs in a range of industries and an estimated $100 billion in annual output by the end of the decade.

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