Managing surplus assets is a vital part of business operations that, when executed correctly, can provide cost savings, create new revenue and protect the brand.
With downsizing, mergers and acquisitions and plant closures becoming a mainstay in the pharmaceutical and biotech industry, organizations face millions of dollars in real estate, laboratory equipment and research devices that need to be redeployed, sold or trashed. Given budget restrictions and the importance of maximizing recovery while being privy to environmental regulations, organizations can no longer afford to simply allow assets to lie idle or dispose of them without any thought to the process.
If managed correctly, either internally or by working with a partner to manage disposition, surplus assets can provide cost savings (through redeployment of items), create new revenue streams (through remarketing of items) and protect the organization’s brand.
(Bylined Article By Tom Burton, President and EVP of Liquidity Services’ Capital Assets Group)