Success Story: Clear the Shelves! – OEM Wins New Contract and Needs to Immediately Free Up Warehouse Space

Sellers
Semi truck in warehouse with iBuyXS logo

Challenge:

A wireless earbud manufacturer had been acquiring parts for their old BOM for the past 2 years. When they suddenly closed a contract for a newer version of their product, 90% of the raw goods in their warehouse suddenly became dead inventory.

They approached us with a challenge: Make them an offer within 48 hours to sell their entire excess electronic components inventory for the old build to free up space for the new incoming Bill of Materials and recapitalize their initial investment.

Solution with iBuyXS:

Leveraging iBuyXS’s Bidchips platform, boasting 600+ active bidders, alongside robust demand creation marketing and advertising solutions, we facilitated the sale of these surplus electronic components and got them an offer within 38 hours of receiving their list of surplus.

Additionally, we collaborated with the Bureau of Industry and Security (BIS) to secure all necessary export licenses, ensuring compliance with regulations for any of the goods that were exported.

Impact:

Through iBuyXS, the OEM supplier successfully liquidated their excess electronic component inventory. We scheduled the pickup of 12 pallets of goods and the entire lot was cleared from their shelves within 3 days of the initial offer. The OEM had plenty of time to run a new cycle count of their remaining inventory and move forward in an orderly fashion with their new deliveries.

They also recouped a significant return on their investment instead of having to scrap the parts. Furthermore, they had a critical shortage on a Bluetooth 5.2 device for their new build. iBuyXS was able to cross-match this item with safety stock from another OEM to cover their needed supply for their new build.

Client Testimonial:

“We were in a huge pinch and needed immediate action. We had spoken with other excess liquidators that were non-responsive or unable to step up. iBuy stepped up and saved the day AND they even came through with a factory packaged batch of Nordic Bluetooth parts we desperately needed for our new build. I’d HIGHLY recommend them for excess liquidation and shortage mitigation!”

Malcolm, VP of Supply Chain