Hello again, it’s Ryan Andrews. I am REUZEit’s Chief Innovation Officer and have been an integral part of the company’s overall development. Over the past 10+ years, my vision of creating a circular economy through Surplus Asset Management as a service has propelled the company to what it is today. In this blog I’ll be sharing the resolution of the first part of this true story on lab equipment redeployment for the South San Francisco Project. We continue…
REUZEit Fills in the Gaps
After explaining REUZEit’s triage process to Rick, we all agree to compare the gap list to what is in the inventory. We were able to match some exact and similar items. When we couldn’t find an asset within their inventory of lab equipment, we looked in REUZEit’s marketplace pool. This pool consists of other surplus assets from other clients of REUZEit. Everyone was happy to find out they had an automatic discount for just being part of our network!
Doing this exercise is one of my favorite things to do while in a live meeting. It’s a fun way to show our customers the opportunity for savings and the importance of establishing a “REUZE” mindset.
How Surplus and Used Lab Equipment Save Time and Money
Each project is unique and has its challenges. Procurement of necessary assets to get up and running comes with the main challenges of availability and lead time. Over the years, besides the monetary savings, we have saved months of production and research time by looking into our REUZEit Marketplace and identifying opportunities to REUZE qualified surplus assets.
At the end of this project in South San Francisco, between all services offered (we do offer project management, move/lab transfer, and closure services as well), we were able to provide our customer with over $200,000 in cost savings from services and $1,200,000 in redeployment cost avoidance, through the REUZE of their own lab equipment!
As typical with any move/transfer/closure, there are assets that clients do not wish to transfer. Our team works diligently and expertly to disposition these assets; our goal is to minimize costs and maximize capital recovery.
At the end of the day, this project in South San Francisco was able to get a capital recovery of over $700,000 from surplus assets that they did not need at the new site. That is nearly two million dollars in total contribution to this site and its project—all by utilizing the project services and technology available here at REUZEit.
Adopt a REUZE Mentality
This story is from our early days of our Surplus Asset Management (SAM) program. Since then, that client has deployed our full suite of services internationally. We perform similar projects all year long, all over the world for them. Today, with our upgraded technology, all of our clients participate fully in this circular economy of surplus assets, providing millions in savings, avoidances, and capital recovery.
It is vital for all companies in all industries to pick up a REUZE mentality. REUZE is essential for sustainability, not just in the pocketbook but also for the environment. Every time you REUZE a surplus asset, you are saving that item from hitting the landfill. You are also diminishing the new manufacturing and raw material demand that would be present in a REBUY mentality.
It is our mission to get the world to start thinking and living REUZE first. Think about how having this mindset will apply to your everyday life, your own workplace, or business.
Imagine multiplying this effort across the globe. The impacts from utilizing the circular economy aspects of a REUZE mindset can literally help save the world.
How REUZEit Can Help
Whether you’re searching for innovative chemistry lab equipment or looking to replace broken lab equipment, REUZEit offers low-cost solutions that work as hard as you do. Browse the best surplus and gently used biotech and pharmaceutical equipment on the market! Check out our USA-based store or our European Store to shop discount laboratory equipment.