Overview: Excess Property Disposition Program

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Overview: Excess Property Disposition Program


Materials Management Association Workshop


Presented By:


May 15, 2008

GS
-
35F
-
0496T

Michael Livatino
, Program Manager

Vice President, Client Services

Asset Recovery Division, Capital Assets Group

Liquidity Services, Inc.

1920 L St. NW, 6th Floor

Washington, DC 20036

Tel: (202) 558
-
6210

Cell: (571) 232
-
5000

Email:
Michael.Livatino@Liquidation.com


Overview:



Surplus Property disposal solution via online auction of used, salvage and recyclable material


LSI is more than just a business to business online auction website, it’s a best
-
in
-
class marketing & reverse logistics solution


Years in Business:

8 years, IPO’d in February 2006 on NASDAQ as LQDT


8 LSI
-
owned, 158 warehouses under management: 1,500,000 sq. ft.


650 employees


500 product categories


35,000 annual outbound shipments to buyers from our warehouses


91,000 completed online auctions last quarter Q2 2008


140,000 annual inbound calls and emails to the Buyer Relations Team


892,000 registered and pre qualified buyers


80,000,000 annual opt
-
in email alerts


32,270,870 annual online searches in our marketplace


$88,200,000 in property sold online last quarter Q2 FY 2008


$875,000,000 in completed online auction sales since 2002


Awards for Excellence:

Liquidity Services, Inc.
-

Corporate Overview

2

2002

National Auctioneer

Association

Advertising Contest Winner

2003

Department of Defense

Defense Logistics Agency

Vendor Excellence Award

2004

Customer Service

“Exemplary Practices

In Retail”

2005

Department of Defense

Defense Logistics Agency

Vendor Excellence Award

2007

Silver Medal for Procurement
Excellence to DC Government from
National Association of State
Procurement Officials

Property Management


Objective

Contractor Background:



Contractor provided all storage, management, personnel, labor, supplies,
materials, transportation and remarketing for excess government
property disposal for all facilities
-

North Las Vegas and Cheyenne
facilities, Remote Sensing Laboratory, Nellis Air Force Base and the
Nevada Test Site.


Property types disposed include; Automated Data Processing, Consumer
Electronics, industrial shop machinery, furniture, air conditioners, heavy
equipment, drilling equipment and scrap metal.


Detailed Documentation: Comprehensive audit trail


3

Property Management


Objective

Sub
-
Contractor Requirements:



Provide an off
-
site, sufficiently secure and size warehouse facility to manage
excess property disposition services to include: Pick
-
up and receiving for all five (5)
contractor managed facilities, transportation, material handling equipment, secure
segregated storage, accountability, internal redistribution, FEDS GSAxcess
property uploads, internal & external agency screening, coordination of transfers
and donations, sale of surplus and scrap property, compliant with Federal CFR
101,102, 109, government regulations, environmental requirements and
documented audit trail of all final disposition activities


Focus on


Transportation


Safety “Zero Accident Performance”


Segregated Storage


Re
-
deployment Access and Traceability


Security


Inventory Cycle Time


Disposal Process


Detailed Reporting


Maximization of Revenue


Client Service “Responsiveness”

4



Property Removal, Transportation & Secure Storage


Provide vehicles, trained personnel and secure offsite warehouse facility to store, re
-
deploy and remarket surplus and scrap property


Coordinated pick
-
up 2x a week from contractor sites, within 15 days from notification


LSI vehicles must have specific capacity requirements


LSI personnel receive safety training and fully understand the client pick
-
up
procedures


LSI warehouse sq. ft. allocation was based on historic data provided by Client


LSI building has internal and external recorded surveillance and central station alarm


Non
-
LSI employees entering the warehouse are documented and escorted at all
times


LSI provides additional segregated ,secure storage area for high value property


Statement of Work:
Sub
-
Contractor

Deliverable

5


Property Management


Receiving, manifest, de
-
labeling, segregation, screening & redeployment


Review turn
-
in documentation for discrepancy’s: quantity, description, etc.


Check for CFR property compliance


Received property must be added into LSI inventory management system
(IMS) creating detailed printable files by: turn
-
in date, exit date, make, model,
task #, pick
-
up location, serial number, INV #, etc.


De
-
label all received inventory of government & contractor markings


Palletize property and store utilizing assigned “search
-
by
-
location” barcode in
IMS and segregated in warehouse


Access to government and Contractor for random and quarterly inspections of
facility and inventory and documentation


Provide and on
-
line inventory management review portal for redeployment
search by: make, model, description, serial number, INV #, etc


Re
-
deployed, and sold property has auditable disposition trail


Statement of Work:
Sub
-
contractor Deliverable, continued

6


Re
-
deployment


DOE & NSTec Internal re
-
deployment screening of property for specified period


All Internal physical inspections for re
-
deployment: Personnel must have
valid I.D. are logged into screening book prior to physical inspection


Property transfer documentation received is verified, hard copy is filed and
IMS is updated with exit date and transfer information, reported month
-
end.


Transfer documentation received is verified, hard copy is filed and IMS is
updated with exit date and transfer information.


Electronic and hard copy paper trail of all internal redeployed property



External re
-
deployment of unclaimed property automatically migrates to FEDS
GSAxcess, (Fed and non
-
fed transfers, ERLE grants, State donations)


All external physical inspections for re
-
deployment: Personnel must have
valid I.D. are logged into screening book prior to physical inspection


Claimed property transfer documentation is verified, hard copy is filed and
IMS is updated with exit date and transfer information, reported month
-
end.


Electronic and hard copy paper trail of all external redeployed property



Property that is unclaimed during the internal and external re
-
deployment
process automatically migrates to auction sale disposition process

Statement of Work:
Sub
-
contractor Deliverable, continued

7


On
-
line Sales Disposition of Surplus and Scrap Property


Property available for sale is reviewed by the LSI Marketing Department to initiate targeted
marketing campaign to pre
-
registered & qualified bidders & also determines auction timeline


Traditional direct mail, print advertising, professional organization publications


Online keyword purchasing, banner ads, search engine optimization & LSI opt
-
in email
buyers


Property Specialist / Manager QC reviews property description details, adds information as
necessary and reviews photographs.


Develops auction template and promotes auction to “LIVE”


Property is sold as
-
is where
-
is and receives multiple bids and auction “CLOSES”


Collect revenue via wire transfer, credit card and PayPal


Upon confirmation of cleared funds, Finance Dept. issues confirmation of funds


Logistics Dept. issues to buyer and corresponding warehouse an electronic Material
Release Form detailing property sales & buyer information to verify prior to warehouse
property release.


Property is removed from warehouse and auction is “COMPLETE” IMS exit date


Scrap metal property is sold based on two methodologies: specialized material and ongoing
operations


Specialized material (can not be sold into market for its original intended Mfg. use) is sold
via sealed bid or auction, based on material, weight and location


Scrap from ongoing operations is contracted via re
-
occurring competitive sealed bid process
allowing for service deliverables and revenue maximization.

Statement of Work:
Sub
-
contractor Deliverable, continued

8


Reporting and Data Capture Requirements


Document client notification of pick
-
up into IMS: Create Task # date stamp, and location


Review turn
-
in documentation at pick
-
up with client and at warehouse


Property Discrepancy Report: within 5 days
-

client notation and note in IMS


Manifest each item upon receipt at warehouse in IMS include detailed description and capture INV#


Internal & external re
-
deployment physical inspections logged


Internal & external re
-
deployed property verified and noted in IMS


Property Cycle
-
time Report


Safety and Personnel Reports: Injury and illness


Online Inventory Real
-
time Access and Search Capability to Client into IMS 24/7/365


Monthly Summary Report of Excess Activity


Redeployment:


NSTec, DOE, Federal Transfers, ERLE Grants, State Donations, Non
-
Fed Transfers


Sales Revenue: Surplus Property and Scrap


Property
: Revenue, Date, ID #, Property Description


Scrap
: Revenue, Date, Ferrous, Non
-
Ferrous, Lead, Weight


Monthly Progress Report


Work Completed, Work Rescheduled, Work Forecast Next Period, Summary of Problem Areas


Annual Summary Reports


Quarterly In
-
Person Operational Review Meetings

Statement of Work:
Sub
-
contractor Deliverable,

continued

9

Disposition Process Flow:
Simplified Overview

QC
CAS sale
Approv al
NO
YES
CAS Property
Redeploy
Rev iew
QC
CAS Sale
approv al
YES
NO
CAS
Specif icat on
rev iew
QC
-
CAM
rev iew sale
approv al
YES
NO
CAM repost auct ion
Receiv ed
Bids
Approv e
NO
YES
Bidder
payment
request
Receiv ed
Payment
Approv e
NO
YES
Warehouse
& buy er
not if ied paid
Buy er
Remov es
Approv e
NO
YES
Redeploy,
Scrap,
Exit Dat e
in I MS
NO
CAS/CAM

WAREHOUSE REVI SI ON

And prov ides warehouse
it em inst ruct ions
Specs, Redeploy, Scrap, etc.
Warehouse it em
modif icat ion, phot o,
descript ion Re
-
lot
CAM promot es auct ion

ACTI VE

Transact ion

COMPLETE

CAS Auct ion
Dev elopment
I t em
APPROVED t o
sell
YES
Auct ion
CLOSES
Warehouse
Assigns TASK #
To Pick
-
up
LSI recei ves Pi ck
-
up
Noti fi cation by Cl i ent
Sets pi ck
-
up date
CAS
ADVERTI SI NG
Warehouse
inspect ion
creat es lot
specs phot o
descript ion
Warehouse
Manif est
I t em / lot
Ent ered int o
I MS
Truck arriv es
at LSI
Warehouse
Truck & t eam
assigned and
proceeds t o
Client pick
-
up
Propert y in
prelim. inspect ed
and loaded
Market ing
Dept.
Adv ert.
campaign
FMR Rev iew
Aut omat ed
Re
-
deploy Program
1
st
I nt ernal

2
nd
GSAxcess
Blue: warehouse status / Yellow: auction status

10

Questions ??

Michael Livatino
, Program Manager

Vice President, Client Services

Asset Recovery Division, Capital Assets Group

Liquidity Services, Inc.

1920 L St. NW, 6th Floor

Washington, DC 20036

Tel: (202) 558
-
6210

Cell: (571) 232
-
5000

Email:
Michael.Livatino@Liquidation.com



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