The Problem With Surplus Asset Management
Every year, the human race produces approximately 4 billion metric tons of materials. How can that all possibly belong to a true home? Unfortunately, the reality is that many items and materials are not disposed of properly, contributing to the global catastrophe of waste in our oceans, streets, and landfills.
More specifically, surplus assets from businesses and organizations come in abundance and typically sit in a warehouse or storage space, collecting dust until their inevitable throw-out day approaches.
So, how can this issue be addressed?
Many businesses face the difficult problem of managing their excess inventory and equipment. This task can be tedious, time-consuming, and impacts the workspace. Not only is there the issue of how the mission of ridding surplus assets begins, but it is also then followed by the question of “What happens to this stuff now?”
The Surplus Asset Experience
As corporations experience turnover and cycle through resources, these items become an afterthought and often pile up in a space that eventually becomes overfull. A typical company will look at this pile and see the value, but will also be concerned about the time and effort that goes into disposing of these items sensibly - time and effort that may be few and far between with other responsibilities.
What are surplus assets?
Any assets that are held by a company but that are no longer in use or serve as value are considered surplus - an excess amount of something. Referencing enterprise businesses, surplus assets for the workplace would vary. For example, surplus assets for a law office could include out-of-date furnishings. With evolving workplace practices and changing standards (not to mention the COVID-19 pandemic that had many companies shift to a work-from-home environment), the amount of surplus assets within corporate buildings has grown, and so has the issue of how to dispose of the abundance.
How are surplus assets managed?
Currently, there are services available to businesses and organizations where this surplus can be auctioned for sale. These items will be given to the highest bidder and are not necessarily sold for their true value. While not every company may be on the hunt for making the most from the sale of their surplus, it is nice to know the item was valued accordingly. Let’s call this option #4.
A corporation may also consider donating its surplus assets. It makes sense that an organizations’ heart is in helping others and we want to support the giving community. That being said, not all surplus assets from a company are what charities may be looking for. In this process, the items are likely to become waste and end up in landfills. Recognizing as well that the steps in which donating happens can be time-consuming and labor-intensive. Charities are more inclined to accept donations of cheques over chairs, ultimately. The donation of surplus assets is option #3.
Other services exist that simply pick up a business’s surplus items and haul them to the trash. Yes, this eliminates the issue of surplus within the workspace, but now adds to the ongoing problem of items in landfills. Many of these items are not constructed from recyclable materials either and do not have the option to be recycled. Option #2.
Then, introducing HYON - the #1 option for sustainable and economically responsible surplus asset management.
How HYON Helps
We’re inserting ourselves within the chain of consumption and asset management to improve circularity. Our goal is to halt the process of linear consumption after item use and before item disposal, circulating the lifecycle of the item back to the selling stage. The possibility of potential waste and excess surplus is eliminated through HYON’s custom software.
Here’s how it works:
The step-by-step process of how HYON works for enterprises may differ depending on the unique needs and expectations of your business. Here is what you could expect to experience:
DISCOVER. A thorough discussion around the organization’s current surplus policies and processes so the HYON process can be customized to meet enterprise needs.
TRY US ON. A facilities team member is encouraged to enter their first item and witness how easy it is to use the technology.
MARKET AND SELL. HYON will research the fair market value of the company’s inventory for the best sale outcome: to sell as quickly as possible for as much as possible while also dealing with the promotion and negotiation of surplus items.
FINANCIALS AND REPORTING. Payment is collected prior to pick-up or delivery and funds are automatically disbursed weekly. Reporting is calculated in real-time and made available on an easy-to-understand dashboard.
COORDINATE LOGISTICS. Pick-ups and deliveries are arranged by the HYON Experience Team.
STAY IN TOUCH. On-going communication between the company and HYON helps to create efficiencies and improve processes.
FORWARD-THINKING. Design with us. HYON is 100% built based on customer feedback. Ideas are prioritized so customers experience being part of what we’re building.
Let’s Talk Circularity
Think first about what our typical linear economy is: materials are processed, products are created and sold, items are used, then items are disposed of. Can you spot the issue here? If this linear process was the story for each individual item, that would mean every single item produced would be disposed of to landfills.
The circular economy - what is it?
Alternatively to the linear economy, there is the circular economy: creating an alternative route to the linear economy by creating a loop and bringing the item back into circulation. Unfortunately, it is estimated that only 9% of the world is circular with its items’ lifecycles.
Circularity & sustainability
While the circular economy will be the process in which the life of resources cycle, sustainability will be the practice that consumers need to think of first to ensure success. The two ideas work alongside and support one another, sharing values and theories for the betterment of our economy and our environment. Not all products are created with longevity in mind, but supporting processes where circularity keeps these items revolving to various homes or consumers will extend their life.
Sustainability can be associated with the birth of a resource - developing a product with a long lifecycle as a priority. This means the item itself is either made from recyclable materials, is friendly to the environment, or is produced in a way that will not negatively affect the lives of future generations.
Why should we care about the circular economy?
The more linear we continue to stay with creating and discarding items, the more our environment becomes polluted with garbage. Working towards a circular economy supports the mission to clean up our earth by producing fewer greenhouse gases, creating vital soil, water, and air, and conserving nature reserves.
Shifting towards a circular economy will also aid in conquering climate change. As discussed by Ellen MacArthur in her 2021 paper Completing The Picture: How the circular economy tackles climate change, changes to how resources are produced and consumed will help to “reduce emissions and increase resilience” to the effects of climate change.
Getting Started
Looking to have your surplus assets managed? We’re here to help. Let HYON make handling your surplus simple by managing your inventory sales online. Reduce assets, create revenue, and keep items in circulation.
To inquire about how HYON can help your company, send us an email at hello@hyon.ca and we’ll get back to you with the next steps.