A ‘Supplierscave’ for Unused Industrial Products and Services
Have you ever wondered what goes into the operations behind big infrastructure projects like building a bridge or an underground railway line? How are the raw materials procured? And what happens to all the unused materials at the end of the project?
Launch’s current Maple member, Anjani Kanthi, Founder of Supplierscave had the same questions.
Unused raw materials at the end of large construction projects usually end up in landfill, or in a metal furnace. These industrial wastes are not only a logistical nightmare, but also a great threat to the environment.
Supplierscave.com is an online marketplace that connects suppliers and buyers of industrial goods and services. The online marketplace helps contractors liquidate surplus material using technology while increasing the salvage value. It also assists buyers to procure the equipment and raw materials at a reduced price.
Before starting Supplierscave, Anjani was a procurement manager with Larsen & Toubro where he was incharge of finding buyers for the unused project material in UAE. These unused materials were manufactured with stringent project requirements and tremendous resources and energy were consumed in producing them. His inspiration behind Supplierscave came when he noticed huge quantities of raw materials going to waste when the project was over.
“Supplierscave’s vision is to simplify procurement, reduce carbon footprint and enhance sustainability of the planet by connecting suppliers and buyers of Industrial products and services.” says Anjani Kanthi.
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.