Case Study: Creating an Asset Liquidation Program for a National Retailer

How 1GNITE created an excess inventory and mixed load used assets liquidation program that helped a national retailer liquidate goods faster while maximizing retained value.

 

THE ISSUES

A global retailer with thousands of stores and dozens of return centers across the U.S. needed to improve the process to liquidate full truckloads of excess inventory and mixed loads of used assets.

The Program Director knew there was room to decrease the program overall cost but lacked visibility into the processes in place and only received aggregated reports with little actionable insight.

In addition, the group did not have enough internal resources to complete a comprehensive process improvement assessment.

 

THE SOLUTIONS

  • 1GNITE completed an in-depth review of the processes in place and identified a series of best practices and step-by-step changes that could be immediately implemented to streamline the program.

 

  • As a proof of concept, 1GNITE took over a portion of the program and implemented the recommended changes, which drove significant improvement within a few weeks.

 

  • 1GNITE created in-depth analytics, detailed reports and a dashboard that tracked all KPIs

 

  • 1GNITE used collected data to enhance the mix of buyers, optimize loads composition, secure higher returns, and increase loads velocity.

 

  • 1GNITE created an online marketplace with dynamic pricing and a risk-free buying experience for special+ ized buyers to purchase the goods.

 

  • 1GNITE leveraged predictive analytics and real time reporting to increase the value of the loads while decreasing dwell time.

1GNITE is great to work with. They jumped right in, presented good ideas, and provide top notch analytics every month that make my work easier.

Return Center Program Director , National Retailer

THE RESULTS

A managed program leveraging extensive analytics delivers speed, scalability, visibility, and maximum returns.

 

THE IMPACTS

  • Program run by 1GNITE generated a 22% increase in retained value while reducing sell time by 25%.

 

  • Program Director gained full visibility into the full truckload of excess inventory and mixed used asset loads liquidation program. The team leveraged the weekly reports and detailed analytics to identify issues and implement corrective action quickly.

 

  • Program Director used historical analyses and predictive reports to develop more accurate forecast and budgets.

 

  • The retailer’s team leveraged the recommendations in the process assessment report to share best practices among all vendors and streamline processes across all return centers.

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