Surplus Asset Management (SAM) is the profitable practice of redeploying equipment, assets, products, or commodities owned by a company that are not vital to its operations and no longer serve the business in the same way they did previously. Property (premises), outmoded assets, used equipment or devices, and working capital (inventory) are all examples of surplus assets. SAM helps owners get the most out of systems and products that are no longer valuable to them.
Circular Economics (CE) is a model of production and consumption of existing components, equipment, and materials by sharing, leasing, reusing, repairing, reconditioning, refurbishing, and recycling them.
REUZEit has designed the Circular Surplus Asset Management system by combining CE and SAM (CE-SAM) to create an entirely new business model, extending the life cycles of discarded but viable laboratory equipment in a closed-loop supply chain that creates value and reduces environmental impact by redistributing discarded but still useful products and equipment.
Most new business models promote servitization, which refers mainly to industries using their products to sell “outcome as a service” rather than a one-off sale. An example of servitization would be Netflix or Spotify, delivering media as a service rather than customers buying the CDs and DVDs that produce those outcomes.
In an industrial economy that cannot rely on servitization to improve their environmental impact, Life Cycle Management is restorative or regenerative by design. Although both economic (value) and environmental (reuse) are included in the definition, CE-SAM is an alternative yet still profitable business model that also focuses on the reduction of environmental impact by limiting CO2 emissions and increases social impact by enabling access to technology and products at a lower cost, thus creating multiple values. REUZEit focuses on how businesses can contribute to sustainable development goals in a profitable way by introducing CE-SAM.
Businesses need natural resources to produce goods and services. By natural resources, we mean materials, water, and energy. From the point-of-origin to the point of consumption, raw materials feed supply chains. Energy and water are indispensable to produce goods and services. For example, the water footprint of a ham and cheese sandwich is about 50 liters throughout the supply chain. Research shows that many natural resources are becoming scarce, e.g., rare earth minerals used as components in high technology devices. The consequences of resource scarcity include volatile and rising commodity prices and supply chain disruptions. Therefore, the resource consumption of supply chains must be reduced. This also results in a positive impact on climate change caused by greenhouse gas emissions caused by supply chains, and a reduction of discarded electronics and marine litter polluting our planet.
REUZEit offers services to life science, laboratory, and pharmaceutical companies to optimize the life of their resources, assets, and equipment to reduce obsolescence and waste, and increase profit at the same time. We are building the world’s largest circular economic platform to extend the useful life of capital assets and enable organizations to reach their sustainability goals and profitability. The company captures value by re-marketing products via distributors and its own platform, providing a financially sustainable program operating with positive cash returns and substantial cost avoidances which plays a critical role in achieving carbon footprint reductions for businesses. REUZEit offers pickups, reconditioning, refurbishing, and remarketing via distributors and it’s own platform at [reuzeit.com]. We provide physical, administrative, financial, IT, and trading services, which translates to a one-stop-shop for acquiring or trading used equipment geared toward product acquisition, reprocessing, and remarketing. By employing CE-SAM, the asset owner gains the capability to choose the best possible strategy to maximize useful life of the equipment within the organization, or they may choose to maximize capital recovery, all the while achieving sustainability goals for GHG reduction and organic productivity.
Imagine if you multiply this effort across the globe, the impacts from utilizing the circular economy aspects of a REUZE mindset can save the world.
For more information or to Join this REUZE Revolution, please visit us at www.REUZEit.com