Case Study: Everybody Wins
This month we had a great example of the value Reibus brings to its partners generating a win, win, win, for everyone involved.
The Seller: Our seller had in inventory over 150,000lbs of Painted 24-gauge steel AZ50 in white, this coil spec was something they had been unable to sell over the last nine months and this was taking up valuable space in the warehouse as they prepared for the busy spring season. They were faced with the prospect of scrapping this product at 8.5 cents per lb.
The Buyer: Our buyer is making an aggressive push into a new geographic market and has a great new salesman who is digging up new inquiries every day. As is often the case he has a great opportunity with a new customer if he can get them product within 10 days. The buyer’s procurement team is well connected and chases down all his usual sources to find the material. However right now the market is tight , lead times are long, and prices are high. They are about to lose the opportunity and credibility with their new customer.
The Reibus platform provides the solution! After the Reibus team met with the seller they gave us the opportunity to sell their slow moving prime materials through our B2B e-commerce platform. A few days later the buyer remembers that he had seen a new tool in the marketplace was available and visited reibus.com to see if he could save the situation with his new customer.
The magic happens! By using the Reibus platform the seller was able to find a buyer at 6x the scrap value he was facing for his slow-moving material, and the buyer was able to find the material he wanted in a 4-day lead time at 15% below market value.
Win- 1: The seller recovered close to original cost for the material freed up cash and space in the warehouse and was paid in 10 days. Win- 2 The buyer, he was able to satisfy this important new customer with high quality prime material and grow his margins 10%-15% above his normal levels. Win- 3 The end user, they got the product they wanted in the lead time they wanted and at a great price.
This is how www.reibus.com works, by connecting buyers and sellers through our B2B e-commerce platform, creating a fast and easy way to enhance your supply chain.