For the first time, a new website brings together buyers and sellers of machine cutting tools in a uniquely convenient and cost-effective manner.
Imagine, a $3.6B industry in the United States with no viable solution for over $1.0B in surplus and overstock goods. That is what manufacturers and consumers in the U.S. Cutting Tool Industry have been experiencing in recent years. With so much excess inventory, businesses within the machining industry were vulnerable to large losses in connection with unused goods.
Earn more than pennies on the dollar!
In the past, when a machining company updated to new versions of insert chipbreakers or grades they had no good way to manage the resulting surplus inventory. Many industry companies turned to tool recycling or scrap metal recycling companies to unload the inventory. Although it is good for the environment, the metal recycling programs are not cost-effective because they only pay about $.10 on the dollar. For most manufacturing companies, this did not result in a significant source of revenue.
If materials were not recycled, inventory simply built up in warehouses and stockrooms nationwide – waiting to be managed at a later time. With no viable solution, the cutting tool surplus simply sat unused and inaccessible to potential buyers.
A Win-Win Answer
Thanks to toolingmarketplace.com, there is now a way for manufacturers, industrial distributors and end users alike to liquidate surplus inventory in an efficient and cost-effective way. On the website, sellers can list the tools they are offering for sale and buyers can peruse the listings to find a great price on the tools they need. All materials are in new and unused condition, and sales are managed securely and efficiently.
Rather than sitting on unused materials at the close of the year, sellers can now offer the materials directly for sale to buyers across the world who are searching for those exact cutting tools. ToolingMarketPlace.com represents a unique buying opportunity for industrial distributors that offer integrated supply or commodity management programs. In this way, suppliers can provide cutting materials for brands they do not currently represent. Rather than registering as a “site specific” supplier or purchasing cutting products from another distributor that is authorized for that supplier, companies can purchase the materials they need directly from sellers. Distributors can search ToolingMarketPlace.com for the exact brand, grade, chip breaker, or other machine cutting tool they need for each client and purchase them at a greatly reduced price. This results in significant cost savings for the buyer and effective revenue generation for sellers.
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.
Industrial Surplus Solutions
100 Illinois Street Suite 200
St. Charles, IL 60174