EquipNet bets big on used, idle equipment

July 31, 2009 10:53 am

EquipNet bets big on used, idle equipment
 
Without an asset management system, companies sometimes purchase equipment that they already own, but is sitting idle at another location. Software like EquipNet’s Asset Redeployment Management System (Arms) helps companies know what they have and where it’s located. This proprietary software helps multiple departments access information from the comfort of their desktop and avoid unnecessary cost of purchasing duplicate equipment.
 
Even if companies don’t already own a needed piece of equipment, they can often purchase a pre-owned item from another biotech firm at a significant discount over buying it new. At the EquipNet MarketPlace www.equipnet.com, companies can search for pre-owned, used and un-used equipment by industry, type of equipment and even the manufacturer. If the needed item isn’t immediately available, EquipNet also provides procurement services. When a piece of equipment on the search list becomes available, EquipNet notifies the buyer and will even negotiate the price, handle the sales transaction, and arrange shipping and logistics
 
Biotech companies around the world are feeling the effects of the ailing economy. Single-product companies with only one facility and large global firms with multiple locations are looking for ways to cut costs and improve efficiency. Buying, selling, and redeploying surplus lab equipment is a sure-fire way to save money.
 
A common perception is that used equipment is something that large companies sell and small companies buy. Although that’s true, it doesn’t tell the whole story. When companies of any size close a plant or identify assets as surplus to their ongoing operations, they are leaving money on the table if they don’t recover the maximum value of expensive lab equipment. For firms with multiple locations, redeployment to another facility is often the most cost-effective option.