Unlocking Machinery Revenue Opportunities for OEMs Who Embrace the Used Machinery Market with Matt Smith

If you're a machinery OEM you probably would like to ignore used machines. They're a hassle. For customers who own them, you have to provide support as components become obsolete and tribal knowledge dwindles.

When you compete against yourself, that's particularly frustrating, especially when it seems like buyers are just trying to save a few bucks and don't care about the hard work of R&D and improvement that you've invested in.

But buyers may see it differently, and Matt Smith draws on years of deep insight in global used machinery markets to explain why it's an entirely rational (not cheap) decision for some buyers in some situations, and why OEMs may cost themselves years of profitable new machinery and after-market sales by ignoring used machines.

Stop ignoring and scoffing at used machines, and consider incorporating them into your overall offering using some of Matt's recommendations.

Chapters

00:00 Introduction to the Challenge of Self-Competition 04:03 Understanding Global Asset Optimization 10:17 The Dynamics of the Used Machinery Market 19:23 Leveraging Lead Time and Flexibility 24:08 The Role of OEMs in the Used Machinery Market 31:48 Navigating Capital Investment Decisions 40:09 The Importance of Risk Management in Equipment Purchases 46:05 Conclusion and Key Takeaways   Resources

Check out Matt's website and other recommended used machinery resources:

AOTCO Surface Finishing   Asset Industry Resources Mentioned in the Episode: Investment Recovery Association EquipNet BidSpotter LabX Surplus Solutions Surplus Sherpa 

LinkedIn: Matt Smith and Ed Marsh

Twitter: Ed Marsh

Instagram: Ed Marsh

YouTube: @EdMarsh

Show Transcript 

Rethinking Our Market Attitudes and Assumptions   Recognizing the potential of used machines as a business benefit rather than a threat is just one example of how we should adjust our market assumptions.   Buyer habits and expectations are changing, just as AI is shifting how buyers search and consider complex decisions.  

Read more from Ed's recent paper on these critical changes.