Excess inventory is a challenge faced by many Original Equipment Manufacturers (OEMs) and Contract Electronics Manufacturers (CEMs).
One multinational robotics company in the UK was facing space constraints in their main warehouse due to an overstock of electronic components. With new projects in the works, they urgently needed to clear space while ensuring they minimised losses from their existing unused inventory.
Cyclops Excess offered the business a standard consignment solution, which was perfectly suited to address the company's needs.
An agreement was reached within 48 hours; all the necessary paperwork was signed, and collection was arranged. This fast-paced solution was ideal for the robotics company as it involved no storage fees, stock management fees, and there were no hidden or upfront costs.
Within one week, all parts were received, inspected, and advertised globally. Cyclops Excess successfully sold the majority of the inventory within three months and eventually purchased the remaining stock. The expertise of the Cyclops Excess team helped the company clear valuable space and generate significant revenue from inventory that would otherwise have remained dormant.
Industry: Robotics
Size: Multinational
Key Operations: Production of cognitive, companion, and domestic robots primarily for commercial sale.
The customer’s primary requirement was to free up warehouse space without compromising the value of their inventory. Minimum order quantities (MOQs) and cancelled projects had left them with a substantial overstock, impacting their liquidity. A minimum sale price was set on the package which ensured the company received a fair return. They are actually set to exceed this value.
The robotics company learned about Cyclops Excess through one of its other satisfied clients. Cyclops Excess surpassed the client's expectations with their consignment agreement, leading the client to highly recommend their efficient and effective service.
Upon initial contact, the primary requirement was clear: ensure a minimum return on their excess inventory. Cyclops Excess's reputation for flexibility and consistently delivering high returns made them the ideal partner for this task.
Cyclops Excess provided a full consignment solution that not only solved the company's immediate space constraints but also maximised their returns on excess stock. By utilising Cyclops Excess’s extensive network and expertise, the company successfully minimised losses on their surplus inventory, turning a potential problem into an opportunity.
For businesses facing similar challenges with excess inventory, Cyclops Excess offers tailored solutions that can optimise excess stock value while freeing up valuable warehouse space. Whether through immediate purchase, standard consignment, or virtual consignment, Cyclops Excess ensures that your business can focus on its core operations while they handle the complexities of excess inventory management.
Contact Cyclops Excess today to explore how their services can benefit your business
