By Gardner Dudley, President of Liquidity Services’ Capital Assets Group
With mergers and acquisitions and the pressure to cut costs while increasing efficiency, the pharmaceutical industry is currently undergoing a lot of changes. As organizations continue to navigate this changing landscape, an increasing number are looking to the secondary marketplace as a sustainable, cost- efficient solution for selling and buying surplus equipment. This mainstream adoption has contributed to a steady 20% increase in the amount of inventory coming into the secondary marketplace every two to three years.
Subsequently, the used equipment marketplace has become a much larger, socially acceptable ecosystem of buying and selling. As pharmaceutical organizations, large and small, have become more comfortable selling their surplus, there has never been a better time to acquire quality used equipment straight from a working lab. However, to best take advantage of this trend, buyers need to utilize best practices for sourcing secondhand equipment, which includes validating the equipment, assessing current product needs, and understanding the various sales channels as well as expected savings and costs.
Understanding Equipment Condition And Sourcing Best Practices