Investment recovery (IR) represents the third phase of Supply Chain or Life Cycle Management: First, acquire the asset; second, control it while in use; and finally, dispose of the asset. Surplus asset identification is the initial, and therefore, key step in successfully completing that third phase of the materials management process.
You are sitting at your desk, toiling over the daily reports, when your inbox chimes. You’ve just received a notice from one of your internal customers that he has a nice piece of machinery that needs to be sold in a short time frame. All of the required releases and specifications are attached to the email but none of the financial information (original purchase price or net book value) is included. You are free to market the asset but you don’t normally deal in these assets and don’t have much
Whether buying or selling a car, making a major purchase for your company or even discussing an appropriate bedtime with your kids, everyone likely has some experience negotiating. Some of us “love the game” and others try to avoid the exercise completely. We negotiate constantly, mostly on small things where we may not be […]
“The prevailing wisdom has been that to get ahead, you should learn something from one company and move on—and up—at the next,” says Brian Kropp, a managing director at CEB, an executive advisory firm that offers data analysis of more than 50,000 employee surveys from 10,000 organizations. “But that only produces short-term effects. In […]
Much like the GPS in your vehicle or smart phone, your internal GPS works based on knowing where you are currently, where you want to go, and then how you will get there. There are three components to attracting and sustaining strong long-term customer relationships:
Environmental compliance audits of waste disposal and recycling vendors are an important aspect of Salt River Project’s (SRP) efforts to minimize long-term Superfund liability. SRP’s Vendor Audit Program started in the early 1980s and originally focused on Treatment Storage and/or Disposal Facilities (TSDFs) for hazardous waste, and companies involved with recycling of electrical oils. […]
Old shingles getting new life at O’Hare airport.
The new runway at Chicago’s O’Hare International Airport set to debut in late 2015 could earn the nickname “Shingles,’’ and not because Chicago officials are hoping the number of flights will go through the roof. During the pouring of underpavement layers that began this month, O’Hare became […]
The passage of the federal Sarbanes-Oxley Act more than a decade ago instituted several strict accounting requirements for public companies, one of which directly affects investment recovery managers today. The law stated that companies must report costs associated with future facility retirements in current financial statements. In other words, companies must estimate and recognize […]
Our universe is made of 115 different elements with distinct chemical characteristics. That speaks volumes about the potential of each element as a resource, not waste! We know a simple switch and shift in the arrangement of the same atoms will give us different resources with different utility. We see this in the natural […]
The practice of investment recovery involves practical cost-saving measures that provide significant value to their organizations. IR also embraces a higher-level purpose of sustainability and stewardship of resources that benefit society; however, beyond the specialized focus of investment recovery for individual companies, perhaps the highest approach in seeking to redefine the global production and […]