Obsolescence Management: An Underused Area Of Business

Obsolescence management rarely gets mentioned in the small to medium sized business circles but it definitely should be, it sounds like a very complicated term but is much easier to understand than you would imagine, if you think of the word obsolete and what it means you are half way there. When management gets added to the word it then becomes a valid practice, obsolescence management  is effectively just coming up with a method of dealing with your old machinery or computers that are no longer needed, whether they are being replaced or being updated in some way.

When companies update computers for example they tend to just throw the old units out as they think there is no value or use left in them since they are 10 years old and in poor condition. That couldn’t be further from the truth, if you were to get in touch with a company who could come up with an obsolescence management plan then they would source companies who may be looking for spare parts, old units or to sell them on to other countries. With more developing countries looking to get in to hi-tech and manufacturing they often look to buy used and older models from abroad as they can’t afford brand new, up to date machinery. This can generate a useful amount of income especially in these tough times to put towards new and more updated machinery that you otherwise wouldn’t have had. The important part is to do your research and make sure you get a respectable obsolescence management company.

An example of a business that can really do well out of obsolescence is a restaurant, cooking equipment is very expensive brand new so there is quite a large marketplace for used machinery. This means you can sell off your old parts and get a better quality replacement. Whilst it is mainly for businesses as obsolescence companies generally deal in bulk to get the profits it is also possible to do it with white goods you use at home, by looking in your local directory you will find a residential equivalent that can be used. They will give you an estimate and turn up and collect your old washing machine or tumble dryer.

Author Bio

Sarah Hewitt is an experienced writer who writes about anything and everything that interests her, this can range from travel to business, sport and electronics. You can contact her via her Google+ page.

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