Contractors are left with surplus material due to procurement contingencies as well as design changes at the end of the project. Stockists are left with non-moving inventory due to change in market conditions or misplanned forecast of demand. Supplierscave aims to map the market demand and supply using data and technology while working with Stockists and suppliers by helping them sell their surplus or unused stocks.
List unused equipment for rent
At any given time, chances are that contractors sit on idle assets in their inventory for certain periods of time. Supplierscave helps these contractors to rent out their unused equipment for effective asset utilization and cost recovery.
List store space or warehouse for rent
Along with unused equipment, contractors often have unused yard spaces which can be rented out via Supplierscave to players who are looking for storage or warehouse spaces.
According to Anjani, surplus material accounts for approximately 1% of the project value. To put it in perspective, the GDP of UAE is USD 350 billion with a third of that value being generated from the oil & gas sector, which amounts to USD 100 billion. If all oil and gas projects lost just 1% in scrap, that would account for materials worth a billion dollars going to waste.
Supplierscave presents a worthwhile solution for buyers who can get materials at a discounted rate of around 60 percent and while sellers receive 30 times the value by avoiding scrapping materials.
“Supplierscave is solving the problem of information asymmetry by using technology to organise the information and streamline the process,” says Anjani.
To learn more about what Supplierscave is doing, or if you are a contractor, supplier, manufacturer, stockist or a buyer of industrial products, you can contact them here.