A leading downstream energy company was challenged to manage an efficient enterprise-wide scrap and surplus program. Each of its refineries had separate processes for handling scrap and surplus, a lack of consistency that limited program efficiencies and recovery. To remedy this, the company aimed to implement a scrap process across its enterprise that would maximize surplus and scrap recovery, streamline its program, and ensure all scrap and surplus opportunities were capitalized on.
Since May 2014, Liquidity Services has partnered with this company to maximize value for its scrap and surplus assets. Through a proven process supported by decades of scrap and industry expertise, we continually manage and sell scrap and surplus assets across the client’s organization:
Over three years and counting of partnership, Liquidity Services has generated nearly $8 million for the client’s scrap. We’ve also recovered over $3.5 million in the secondary market for the client’s surplus assets. Our proven scrap and surplus process provides a wide range of benefits to our client:
“I really appreciated you and everyone stepping up for me. This was one less area that I didn’t need to pay as much attention to because I felt confident things were getting done.”Materials Management Coordinator, Client