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Now is the Time to Sell your Surplus MRO and Spare parts. Here’s Why.

Now is the Time to Sell your Surplus MRO and Spare parts. Here’s Why.

Now is the time to make the selling of your company's surplus MRO a priority. As companies are looking for ways to make up for lost revenue due to the recent "shut down" of our economy, there may be a quick and easy solution right under your nose. 

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By selling this inventory, you can clear up valuable warehouse space for new assets and spare parts you will need after the shutdown is over, while also receiving valuable capital from the sale of the obsolete or surplus assets. 

By raising capital during these times of economic uncertainty, you can help ensure that your organization will survive and take care of essential factors for your business, such as employees. 

The Proper Steps to Selling Surplus MRO & Spare Parts

Based on the current travel restrictions in place all around the world, traveling to your site or storage facility may not be possible at this time. In addition, your organization may be restricting access to these sites for you and additional visitors.

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For many companies, this may be an issue: without inspecting and viewing your surplus, they are unable to submit a proposal or make you an offer. However, unlike other companies, NRI Industrial Sales can submit a proposal without an on-site visit to view the material, we will require three things from your company: 

  1. An Itemized List: An itemized list of the surplus MRO that you are looking to sell. The asset list will need to have columns with each line item showing the manufacturer, model number, quantity, and condition (new, used, refurbished, nonworking, etc.). 
  1. Pictures: Take as many photos of the material as possible. This will allow us to look into the materials you have without any face to face contact. When submitting pictures, remember that you cannot have too many pictures. 
  1. Video: If a picture is worth a thousand words, imagine how much a video can be worth. By sending us a video of the materials along with the itemized list, we can get a better idea of your surplus MRO you are looking to sell. The more information you can provide us the better chances you have to sell your spare parts.  

The more information we have from you, the more accurate our offer will be. In most cases, if we have the above information, we will be able to submit a bid to purchase your material or integrate your company into our consignment program. 

Depending on several factors, NRI Industrial will offer one of two solutions. These solutions are our consignment program or direct purchasing. 

Direct Equipment Purchasing

Our direct purchasing solution is designed to quickly remove large quantities of unused MRO and spare parts that are no longer needed for operations. We provide a competitive return for this equipment, allowing you to sell these assets with minimal impact on your operations quickly. This solution is ideal for an organization undergoing an inventory write-down or a production technology upgrade.

How Our Direct Purchasing Solution Works

After coming to an agreement, the following process is initiated: 

  1. Your site personnel will package the material into gaylord boxes and on pallets to prepare for shipping. 
  1. Once all assets are prepared for shipment, we will require you to send us the weight and dimensions of the shipment.  
  1. NRI will order trucks, and you will load the material onto our trucks. After the shipment is received, payment is issued. 

NRI Industrial's Consignment Program

Our consignment program allows you to quickly move your inventory out of your facilities while also receiving a competitive payout on the assets. Our consignment program relies on our years of expertise in selling industrial surplus to maximize the return on your assets. This solution is perfect for an organization that is looking to sell surplus assets to on-going operations.

How Our Consignment Program Works

After coming to an agreement, the following process is initiated:

  1. Your site personnel will package the material into gaylord boxes and on pallets to prepare for shipping. 

  2.  Once all assets are prepared for shipment, we will require you to send us the weight and dimensions of the shipment.  

  3.  NRI orders trucks, and your team will load the materials onto the truck. Once loaded, you will be provided with a tracking code to track your materials. 

  4.  After your materials arrive at one of our processing facilities, all items are visually inspected and undergo a thorough cleaning process. 

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  5. All items are processed into our inventory system. Our technicians bar code and record all specifications of the asset into our database.

  6. After processing, each item is assigned a unique project code. This allows the item to be easily identified as part of your project.

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  7. Each item undergoes extensive imaging before moving onto the next step in the process.

  8. Our quality assurance staff review the item, photographs, specification, and the pricing to ensure accuracy.

  9. The item is then pushed live onto our various sales channels, including nriparts.com, eBay, and Amazon.

  10. Our customers can browse and purchase items directly on any of our sales platforms, check-out, and pay directly online.

  11. We maintain accurate records of all sold items and forward payment to your organization.

  12. After purchase, items are securely and safely packaged and shipped directly to the customer.

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  13. Every time you sell an item with NRI, you will be provided with live, to the second, reporting on your project.

As the news of each day unfolds, we can all agree that businesses will have to adjust how they operate. NRI is capable of working alongside your organization toward a solution for the liquidation of your surplus MRO. 

NRI Industrial Sales is one of the largest resellers of industrial parts in North America. We provide global solutions for your surplus MRO needs with operations in the US, Canada, Dubai, and Pakistan. We equip organizations from all over the world turn-key solutions to recover value from their surplus inventory. We have the right approach to help your organization through our consignment program or our inventory purchasing solution. 

Download our latest case study

See how the team at NRI Industrial helped on a global food processing company that owns more than ten major brands, each generating more than $1 billion in annual revenue remove over 100,000 surplus assets from their storage facilities.

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Key Contact

steve headshot 1.86mbSteve Stipanovich

Executive Purchasing Manager
NRI Industrial Sales
(567) 395-5885

 

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