A Chicago-based business venture addresses the long-time industry problem of easily liquidating surplus cutting tool inventory for a profit.
At the root of our business culture today is the need for creative problem solving. Take a look at any of the most successful companies in the United States and consider what they all have in common: they offer a unique solution to a specific problem. Whether it is by creating innovative communication devices, offering much needed health and medical services, or delivering effective business services, the top companies have all found a way to fill a need or solve a problem. This process is exactly how ToolingMarketPlace.com came to be.
How We Began – The Problem
ToolingMarketPlace.com was started by the experienced team at Industrial Surplus Solutions, Inc, based in Chicago, IL. Our team leadership brings over 100 years of industrial experience within various industry facets including distribution, manufacturing, sales, marketing, and management. The online service was created as an answer to a long-time industry issue: the negative costs and effects of surplus inventory.
The primary objective of ToolingMarketPlace.com is to provide an efficient and cost-effective method for liquidating surplus product through the use of innovative online programs and technology. Before this service was created, the industrial manufacturing industry had a big issue that no one knew how to deal with. According to the 2013 Gardner Publishing Tooling and Workholding Survey, the U.S. Cutting Tool Industry is estimated at $3.6 billion annually. Within the U.S. cutting tool market, there is an estimated $1 billion in surplus and overstock goods. This represents a significant portion of inventory that is unable to be used or sold at more than a minimal price. This problem affects nearly 1,200 industrial distribution companies, thousands of industrial manufacturing companies, and hundreds of cutting tool manufacturers throughout the country. For all of these companies, there was no profitable way to liquidate the inventory and losses and excess inventory continued to accumulate.
A Simple Solution
This was the question we grappled with as a team and once an innovative answer became clear we were excited to share it with others in the industry. ToolingMarketPlace.com fulfills the need for offering a business to business online marketplace for listing and buying surplus cutting tool inventory. This service benefits all levels of the manufacturing community including manufacturers, distributers, and buyers. Sellers can list their excess inventory online and buyers can search the listings for the products they need and purchase them at a reduced price directly from the seller.
In a nutshell, this means businesses no longer have to cut their losses when it comes to surplus inventory. We encourage distributors and manufacturers to take the time to research the online platform and register for an account to experience just how simple and easy it can be to liquidate excess cutting tool supplies for a more significant profit.
Industrial Surplus Solutions, Inc. strives to be the industrial community’s premier online resource by building a marketplace that serves as a hub for buying, selling, marketing and exchanging products, ideas and information in the industrial community. Our mission is built on the foundation of our values; honesty, integrity, social responsibility and ethical business practices, which distinguish us and guide our actions. We value our customers, and deliver on our promises, in an effort to create sustainable growth in the industrial community through our services and solutions. Our combined leadership brings over 100 years of industrial experience. www.toolingmarketplace.com is just the beginning.