Capital Equipment News March 2022

She says plant hire contracts are much easier to conclude with plant hire companies than applying for equipment finance at a bank. Eduard Faig, regional sales manager at Ritchie Bros., a globally leading industrial asset management provider and supplier of capital equipment to rental companies among others, says that fleet owners wishing to sell capital equipment via their auctions and marketplaces have the advantage of not having to organise the sale themselves. “It can be daunting and time-consuming to sell privately,” he says. Auctions are great, however, they are not always the best solution for each situation, which is why Ritchie Bros. offers not only auctions but also an online marketplace with reserve option and a listing platform. “With Ritchie Bros. Asset Solutions, fleet owners have access to a suite of solutions, including an inventory management system with real-time integration of the users’ own data, accurate asset pricing valuations and easy disposition workflows.” He says even experienced equipment fleet managers often spend a lot of time searching online for OEM part numbers, sending emails to suppliers, matching prices and correcting invoices of purchased parts. SmartEquip, part of the ‘Ritchie Bros. family’, offers technology that connects equipment owners with manufacturers and makes spare part procurement and maintenance much easier. “Rental companies that already work with SmartEquip are seeing massive efficiency gains.” Ritchie Bros. has also developed technology to help manage fleets.

With Ritchie Bros. Asset Solutions, fleet owners have access to a suite of solutions, including an inventory management system.

Plant hire is a “perfect solution” for short-term projects where the purchase of new or used equipment is too expensive to be justified in the project

Plant hire contracts are generally regarded as off balance sheet finance and are usually very flexible, allowing customers to get out of contracts with minimal costs

SmartEquip offers technology that connects equipment owners with manufacturers and makes spare part procurement and maintenance much easier

With Ritchie Bros. Asset Solutions, fleet owners have access to a suite of solutions, including an inventory management system with real-time integration of the users’ own data, accurate asset pricing valuations and easy disposition workflows.

These uncertain times are causing bottlenecks in OEMs’ ability to deliver equipment

When productivity in the construction industry is high and heavy equipment supply chains are restrained, both rental demand and used equipment demand are strong

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CAPITAL EQUIPMENT NEWS MARCH 2022 27