Leading Global Commerce Company Recognized for Automated Sell in Place Technology
LAS VEGAS, Feb. 14, 2023 (GLOBE NEWSWIRE) — Liquidity Services (NASDAQ: LQDT), a leading global commerce company powering the circular economy, received the 2023 Innovation Solutions Partner Award from the Reverse Logistics Association (RLA) during the annual RLA Conference & Expo in Las Vegas, Nevada on February 8, 2023. The award recognizes and honors “those companies that are setting the standard for excellence in reverse logistics through their vision, innovation, focus, and efficiency.”
“We are honored to have been nominated by one of our major retail clients for the Automated Sell in Place solution which was created to increase their efficiencies and recovery,” said Jeff Rechtzigel, Vice President and General Manager, Liquidity Services’ Retail Supply Chain Group. “This new technology has been so successful, we are now looking at ways to put it to work for other customers.”
The Innovation Solutions Partner award is granted to the company that demonstrates measurable improvements in efficiency and return on investment for customers, seamlessly integrates reverse logistics solutions with customers’ technology infrastructure, and exemplifies innovative use of technology. The Automated Sell in Place program is a software solution that has measurably increased recovery on average by 20% while eliminating touches and reducing the retailer’s carbon footprint. The auction success rate has been above 90% on average.
“We are proud to collaborate with our retail partners to make auction listing and fulfillment more efficient, cost effective, and profitable for retailers by increasing total recovery value on assets while reducing the carbon footprint of returned and overstock inventory,” said VP, Retail Client Solutions Daniel O’Neill. “Being able to bring value to our clients is what drives us to innovate every day; to be recognized by the RLA means a great deal to us.”
For information about the RLA 2023 Innovation Solutions Partner Award go to Liquidity Services Wins Innovation Solutions Partner Award at 2023 RLA Conference and Expo – YouTube
Learn more about Liquidity Services’ retail solutions at LiquidityServices.com.
About Liquidity Services, Inc.
Liquidity Services (NASDAQ:LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients’ sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.
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