6 Things To Consider When Selling Your Surplus Parts

Surplus Parts – 6 Things to Consider when Selling

Whether your business is a mining operation in a remote location, or the parts required for your operations machines have long lead times, keeping a wide range of surplus parts in case you might need them is time, space and personal costly.

In our recent article titled 5 ways working with Capital Equipment Parts Increases Business Productivity, Capital Equipment Parts detailed 5 key aspects of spare parts management that could be hindering your business including:

Cash Flow
Spare Parts Storage
Unused Parts Maintenance
Parts Theft
Obsolete Parts Storage

For more details on this article click here.

Partnering with a surplus parts purchaser and Genuine Caterpillar parts provider such as Capital Equipment Parts, helps to ensure business efficiencies.

If selling your spare parts makes sense for your business then the Capital Equipment Parts team have a handy 6 point guide on what to think about before you start selling your spare parts.

Capital Equipment Parts will help you to identify parts that fit your existing fleet

The first step in gearing you business towards better spare parts management is auditing your current stock vs machine requirements. The Capital Equipment Parts team have been in the business for over 40 years and are extremely experienced at helping fleet owners to understand which parts their current machines need.
Read more about Capital Equipment Parts experience here.

Capital Equipment Parts assists with properly referencing parts

One of the most important, and often undervalued, parts of the gearing your business towards a spare parts selling model is the administration that is required to ensure longevity. Properly referencing each and every part required by your machinery means it is much easier to re-order and replace these parts down the line. The Capital Equipment Parts team works across industries and countries and offers a great depth of knowledge on how to reference spare parts so that no matter who is running the maintenance section of your business, finding the right spare part for the right machines is simple.

Capital Equipment Parts will purchase all inventory

Once you have completed step 1 and 2 of gearing your business towards a spare parts selling model, Capital Equipment Parts is able to purchase all inventory, from consumable to obsolete strategic parts, our team are able to offer competitive prices for your spare parts. Take a look at our website here to find out more.

Buying all inventory but keeping on site strategic items as vendor owned inventory

As experts in mining equipment parts, Capital Equipment Parts has a very in-depth understanding of how the spare parts side of the business works. With this in mind, we have a fantastic system that suits some businesses perfectly in which we purchase all spare parts, removing them from the balance sheet but with the understanding that strategic parts remain on site. This way when these parts are needed they are instantly available and the business only pays for the parts they actually use.

Contact our expert team here to find out if this spare parts solution could work for your business.

Buying all items at a premium and offering a credit to be used for purchased of parts applicable to the current fleet.

At Capital Equipment Parts we recognise that every business is unique, which is why we have several spare parts models. One of these models applies to businesses that have a range of spare parts that no longer work for their current vehicles and a requirement for quality spare parts that would work for their current fleet. With this in mind Capital Equipment Parts purchases all of the customers spare parts at a premium and offers a credit for parts from the Capital Equipment Parts stock that would work with the customers current fleet.

In this way our customers are able to remove obsolete stock from their storage and replace it with useful parts for their current machines. Find out more here.

Utilising parts smart IT programs to assist in big projects

For most businesses, managing spare parts is a necessary evil, not their core business. At Capital Equipment Parts we spare parts are our passion and as a result we have invested in parts specific IT development that dovetails with most large ERP’s. This makes the spare parts management a seamless process for the customer.

Mastering a spare parts model for your business means increased efficiencies with regards to cash flow, relevant parts availability and parts stock management.