The client is a leading global pharmaceutical and chemical company with facilities spanning in over 60 countries worldwide. With its recent merger, the newly minted company now offers an expansive and innovative expertise to their markets. The client and its other divisions under its parent company manufacture over 300,000 products and aim to solve the toughest problems in the healthcare industry.
At the end of November 2013, the client tasked EquipNet with the inventory and evaluation of equipment from two locations: a storage warehouse in Hudson, NH and an additional warehouse in Methuen, MA.
The goal was to both verify and qualify the inventory list of equipment at the storage warehouse, and search for discrepancies with the ultimate goal of removing and consolidating all of the client’s equipment into the additional warehouse. This was to be done as quickly as possible to avoid any further warehouse storage charges. The target deadline for this project was the end of 2013.
Upon successful completion of this initial task, the client intended to evaluate additional storage facilities in the New England area where it also warehoused equipment in order to improve internalefficiencies.
EquipNet provided an onsite inventory of both warehouse facilities, validated the storage warehouse equipment list, and coordinated transportation to the second warehouse. Once all equipment was written up, qualified, and transported, the client was given the option to scrap, sell, or continue to store their equipment. EquipNet made both disposition and Fair Market Value pricing recommendations on all the equipment under scope at the two warehouses.
EquipNet successfully facilitated the inventory and transportation of all the storage warehouse equipment to the second warehouse within the desired time frame. Due to our Category Management Department’s efficiency, EquipNet came in under budget for this project as well. A master equipment list was provided to the client, featuring a breakdown of the assorted equipment owners, equipment value, and disposition recommendations.
Since that time, all equipment available for external sale has been cleared from the consolidated warehouse and EquipNet has sold over 135 assets totaling over $115,000 in sales.