How one company in the Middle East created millions of dollars in revenue by selling their surplus inventory on Requis
For years, energy companies in the Middle East have looked for new ways to increase capital efficiency. This started after the oil price crash in 2015 and has expanded following recent uncertainty.
Its why one company in the Middle East looked to make its supply chain more efficient. It wanted to reduce the cost of storing its surplus materials sitting across multiple sites. And, it wanted to do it as efficiently as possible.
"The company had millions of dollars’ worth of unused inventory that was creating additional warehousing costs. By listing these assets on Requis, it unlocked the value of that inventory and created an additional revenue stream on track to be worth over $20+ million."
Given this appetite for efficiency, there was also a renewed interest in digital technologies. Advisian Digital was able to deliver a digital solution and that could also quickly unlock value from surplus material.
That technology is Requis.
Over 20 million reasons to sell surplus material
Requis is Advisian Digital’s supply chain and commerce platform. Built for enterprise buyers and sellers, it provides an easy way to buy, manage and sell assets so they can reduce their total cost of ownership and increase capital recovery.
The company had millions of dollars’ worth of unused inventory that was creating additional warehousing costs. By listing these assets on Requis, it unlocked the value of that inventory and created an additional revenue stream on track to be worth over $20+ million.
It also reduced its storage costs.
Raising capital through individual material sales and bulk auctions
Working closely with the client, we developed a strategy to identify and categorize its surplus material and sell it through the Requis platform.
We also arranged to sell scrap items at auction. So far, we have auctioned thousands of tonnes of materials for the client, generating over $10 million in revenue.
Following the success of the first auction, we have another auction coming up later this year to sell the client’s additional scrap and surplus material. We estimate this will generate over $10+ million in revenue for the company.
To find out more visit requis.com or contact Ross McPherson