DS Smith, Stora Enso, Nestle, JBS, Ülker and UCIC are among the growing list of industrial manufactures showcasing unused, obsolete and surplus stock via the e-commerce platform. This model is a unique proposition for the manufacturing industry, set to disrupt the spare parts space for good.
To date, Machine Compare has identified £5B worth of unused, surplus and obsolete spare parts across manufacturing plants worldwide – a figure estimated to be far greater. However, discussions on this topic remain sparse within manufacturing.
Over 15 multi-national manufacturers have partnered with the Marketplace to sell surplus inventory, taking the number of individual brands, including spare manufacturers and sector specific OEMs shoppable on the website, to over 260.
Machine Compare hope that by giving organisations the chance to revaluate how and when stock is bought, sold and marketed, end-to-end users will gain full transparency of the supply chain and most of all, the assurance needed to trade securely. detected forms an important part of this governance process, increasing transparency, protecting customers and strengthening the customer experience”
Commenting on the Marketplace launch, Machine Compare CEO Ben Findlay says: “Our relentless pursuit to change how industry trades may only be in its infancy, but we have already seen a huge, positive response from multinational players the world over. Like us, they believe in a future where green technologies can thrive, and ethical profits can be made. And with the e-commerce platform designed around the real-life challenges and needs of industrial sellers and buyers, these users are bound to have an enjoyable and seamless experience while putting valuable resources back into circularity.
Marketplace helps businesses close the circle by extending the lifecycles of spare parts, stopping them from prematurely being considered end-of-life.”
With the Marketplace in its BETA infancy, Machine Compare is welcoming feedback to streamline the online experience, expand it, as well as add new features and functionalities prior to the global launch this autumn.
Offering over £7 million worth of product lines across electrical and mechanical spare part categories like semiconductors, capacitors, circuit protection, bearings, bolts and gears, Marketplace provides a dedicated channel that enables brand equity to be maintained when clearing stock, whilst also identifying new revenue streams by turning surplus spare parts into capital.