Our client is a global pharmaceuticals company that discovers, develops, and delivers innovative medicines. Several years ago, the company identified the opportunity presented by its surplus research & development, manufacturing, and electronics assets. Recognizing that surplus asset management was not among its core competencies, the company sought an expert partner to transform this surplus into an ongoing capital stream.
Since 2007, the company has partnered with Liquidity Services to provide comprehensive, ongoing surplus asset management services. Liquidity Services is deeply embedded in the company’s day-to-day operations, providing three full-time-equivalent staff plus a senior account manager.
Liquidity Services ensures the client maximizes value at every stage of its surplus asset management program. Working closely with the client, Liquidity Services identifies all surplus assets across the company and taps deep market and valuation expertise to determine its value. This helps the client accurately set auction reserve prices and make informed asset management decisions.
The client uses AssetZone®, Liquidity Services’ proprietary asset management software, to strategically manage surplus across its many locations throughout the northeastern United States. Liquidity Services partnered closely with the client to customize the software to its precise needs. AssetZone provides the client with full visibility into its surplus, facilitating intelligent decisions about whether to redeploy, sell, or hold assets.
By redeploying surplus internally as appropriate, the client maximizes value for these assets and realizes significant cost savings by reducing the need to buy new. Liquidity Services efficiently sells all assets marked for sale, maximizing return through proven multichannel marketing and sales strategies and a marketplace of over 40,000 registered buyers of biopharmaceuticals assets.
Liquidity Services also provides storage for the client’s surplus at our 150,000-square-foot warehouse conveniently located near the client’s largest facilities. Liquidity Services supports the client’s asset management needs on a day-to-day basis and during key events such as facility closures.
Over a period of eight years, Liquidity Services has achieved $29 million in total program value for the client. We have recovered $12 million for the client by selling its surplus, and saved $17 million through redeployment. We’ve also coordinated dozens of donations of high-value surplus lab equipment to the client’s university and hospital partners, enhancing its public image and relationships with these organizations.
Key to the continued success of this partnership is our ability to provide a comprehensive, scalable solution that maximizes value across the client’s reverse supply chain. We also provide services tailored to the client’s needs through customized AssetZone software, multiple dedicated account reps, and convenient storage for all surplus. With dozens of similarly successful long-term partnerships with large corporations, Liquidity Services understands what it takes to build and implement a high-value surplus asset management program for leading organizations in every industry.