ModusLink Launches Online Auction Service to Complement Existing Re-Market Inventory Management Offerings
Tuesday December 20, 7:30 am ET
ModusLinkAuction.com Enables Clients to Tap New Buyer Markets for Quick, Cost-Effective Disposition of Excess Product
WALTHAM, Mass.--(BUSINESS WIRE)--Dec. 20, 2005--ModusLink Corporation, a subsidiary of CMGI, Inc. (Nasdaq: CMGI - News), today announced the official launch of its Online Auctions Service enabling clients to systematically and proactively manage the high cost of product excess and obsolescence. By leveraging ModusLink's online auction portal, ModusLinkAuction.com, to solicit competitive bids from pre-qualified buyers, clients can quickly liquidate excess, obsolete, returned and refurbished inventory and mitigate the high cost of traditional disposition methods. ModusLink's Online Auction Service complements its existing Re-Market Services providing clients with more choice and greater flexibility in determining how to eliminate excess inventory from the books.
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Exposure to new, previously untapped buyer markets, in such a low-cost, low-overhead venue, can help clients obtain maximum recovery on the asset conversion. To further reduce costs, auctioned products can be pulled from existing supply chain inventories and shipped directly from ModusLink's facility--at the buyers' expense, eliminating redundant product moves and additional transportation charges.
"Online Auctions are an open, dynamic venue with significant advantages for sellers who need to offload excess capacity," said Joseph C. Lawler, President and CEO of CMGI. "ModusLinkAuction.com is a valuable asset management tool helping clients to leverage this low-cost sales venue for maximum margin recovery during asset conversion. Our clients frequently receive bids up to three times higher than if they limited their scope to include only the traditional post-market buyers."
ModusLink can sponsor auctions for its clients anonymously using ModusLinkAuction.com or under their client's name for maximum brand exposure, depending on their specific business objectives. Pre-qualified buyers are invited to participate and compete against each other online in real-time, driving up demand and price as they bid.
The Online Auction Service includes customized auction site design, product cataloguing, buyer invite and registration, payment processing and collection, market intelligence and performance reporting, and coordination of shipping, transportation and customs clearance processes.
The service is offered in conjunction with ModusLink's service provider Freeflow. ModusLink leverages its relationship with Freeflow for site hosting and "best of breed" technology, including its web-based auction platform and bid management engine.
About ModusLink
ModusLink Corporation is a leading provider of global supply chain management solutions. The company provides global technology clients in the software, hardware, consumer electronics, telecommunications and wireless markets with customized supply chain solutions that reduce risk and time to market and improve efficiency and productivity. ModusLink's services include demand planning, sourcing and procurement, manufacturing support, kitting and assembly, fulfillment, full-cycle logistics, systems integration and development, customer support and optimization consulting. Headquartered in Waltham, Massachusetts, ModusLink maintains 42 facilities in 14 countries and employs 3,900 people worldwide. The company is a subsidiary of CMGI, Inc. (Nasdaq: CMGI - News). For additional information, see www.moduslink.com.
About CMGI
CMGI, Inc. (Nasdaq: CMGI - News), through its subsidiary ModusLink, provides technology and product solutions that help businesses market, sell and distribute their products and services. In addition, CMGI's venture capital affiliate, @Ventures, invests in a variety of technology ventures. For additional information, see www.cmgi.com. |
