Industries across the board are facing challenges with the sluggish growth of the U.S. economy and in a feature article with Tom Burton — our President of the Capital Assets Group and Executive Vice-President of Liquidity Services, Inc. — we address opportunities for food manufacturers. In his recently published Q & A with Food Manufacturing magazine, entitled “Q & A; Green for the Planet and Your Pocket,” Tom Burton addresses the barriers around capital equipment costs in this sector and how the reverse supply chain can impact that challenge in a tangible way. Where this capital intensive equipment to manufacturer food products may have once lasted 15 to 20 years, most manufacturers have to upgrade equipment at a faster rate – reducing that timeframe by as much as 10 years. A drive for innovation is coupled with the push for sustainability, resulting in more frequent updates to packaging and processes.
Companies have a stake in meeting the needs of their stakeholders while reducing environmental impact. Unfortunately, if equipment sits unused when it could be utilized elsewhere in the company or sold through an online marketplace such as GoIndustry DoveBid, it can become a part of the problem. With an improved plan around how assets and equipment are managed, food manufacturers can reduce capital expenses, create new revenue streams, enhance sustainability planning, and reduce brand risk.
Food and other consumer packaged goods manufacturers have a tremendous opportunity to streamline their business operations and logistics and embrace sustainability in a long-term way through the reverse supply chain. We encourage you to read the full article for more information on how food manufacturers can benefit from asset management with the world’s leading provider.
Read the full article to learn more.