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Best Practices for Managing Surplus Lab Equipment

February 16, 2024

How a lab manages surplus equipment has significant business implications whether you’re an early-stage biotech or start-up, a CRO or CMO, partnering with an asset recovery professional for your organization’s surplus equipment can have many benefits. These include: financial reporting and accuracy, lab efficiency and operations, eliminating exposure to non-compliance, and optimally mitigating risk. Although beneficial, planning can take away valuable time and energy from research. Partnering with an asset recovery professional minimizes risk and puts time back in the hands of lab managers. 

In 2022, ALT helped over 300 organizations monetize surplus equipment. Once our dedicated in-house systems engineering team acquires surplus instruments, each item is refurbished, tested, and serviced to ensure it meets OEM operating specifications. All of our equipment comes with up to a one-year warranty and Lifetime support – one of the best in the business. 

Ensuring Maximum ROI 

An asset recovery professional can also expedite the process by quickly and accurately assessing fair market value. This, along with numerous payout options, increases your ROI. The fastest and most scalable option is generally direct payment. When a move or liquidation is needed quickly, this will often be the best option. Another option, and certainly the one that offers the greatest return on investment, is auctions. Online auctions have become increasingly robust and sophisticated over the years, allowing equipment to remain on-location until being shipped – an additional measure that encourages trust with potential bidders. If a move or liquidation is happening 60 days out (or more) this may be the recommended approach to payout. Lastly, consignment can be a good option in rare cases such as lab equipment that serves a very limited market. 

Save Time with Turnkey Projects 

Oftentimes, asset recovery needs to happen quickly. To ensure the maximum ROI of unwanted lab equipment, an asset recovery professional can oversee a turnkey project to include as much as: real estate purchase, de-installation, EHS and decontamination, decommissioning, chemical/waste management, and packing/shipping. At ALT, we can also facilitate shipments between your company’s locations when redeployment benefits your organization. 

Budget & Sustainability 

An effective surplus strategy will give your organization access to working capital, allow scientists and researchers more time on science, and ensure your commitment to sustainability and green initiatives while providing access to quality equipment for the life science community. Increasing accountability during vendor selection and ESG practices also comes into consideration while considering surplus lab inventory. 

What Makes ALT Different 

Our model enables you to recapture your lab and facility space faster, speed the time to working capital, get operations running efficiently again, and allow for more time on science. We offer flexible options to monetize surplus or idle lab equipment. As the largest supplier of premium refurbished lab equipment in North America, we know your equipment and the resale market. We’re 100% dedicated to life sciences so our team of buyers have the pulse on current instrumentation values and will ensure you receive maximum ROI for your surplus equipment. 

How We Can Help 

Our surplus strategies go beyond a ‘one-size-fits-all’ approach. We develop a surplus strategy program that allows you to understand the value of your investment. We help ensure that your equipment provides the greatest return at the lowest cost, enabling you to move your research forward more efficiently—from ideas to promising treatments. Whether you need to monetize a few instruments, redeploy assets within your organization, liquidate a lab, or require ongoing surplus management, we ensure an ‘easy-to-work-with’ partnership. 

What are the right services for your lab? 

  • Lab Relocation 
  • Cash Purchase 
  • Store Credit 
  • Consignment 
  • Lab Closure and Liquidation 
  • Auction 
  • Asset Valuation 
  • Redeployment

Contact ALT for a consultation on surplus services and how we can work together to develop your surplus strategy.

Check Out Our New Arrivals

American Laboratory Trading is always looking for, finding and purchasing high quality used laboratory equipment for our experienced technicians to refurbish and calibrate to like-new condition. Click below to see the newest items we have acquired.

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