97 years ago, when my great grandpa Thomas P. Scanlan started Surplus Record, he had a vision to connect dealers and manufacturers across the nation. World War I had ended a few years prior, and he saw a demand to get wartime machinery no longer being used, out of the hands of the government and into civilian manufacturing. He created the Surplus Record as an easy way for dealers to advertise their machinery to manufacturers and connect for joint ventures and lifelong partnerships. Nearly 100 years later, I know he would be proud to see how far Surplus Record has come over our company’s lifetime and how many relationships have been forged through our book and website. When my father came on board in 1982, the economy was in a depression, but it was gearing up for a big turnaround. Little did he know, the internet was coming and … [Read more...] about New Look & Feel, Same Commitment to You
Industry News
Should We Apply Market Economics to Safety?
When prices are high, suppliers will make more of a product. Conversely, when demand drops, prices will face downward pressure, and suppliers will produce less. In the modern global supply chain world, markets have adopted even further. This is supply and demand, a fundamental tenet of economics. A Real World Image of the Market Economy To understand a classic supply and demand environment, we need look no further than the boom of hand sanitizer in recent months. Suppliers of spirits (e.g., vodka) have even converted production from booze to make it! As in all markets, if buyers are willing to pay a higher price, the production will come online to support it. Whether this means adding a second or third shift at the plants of existing producers — or new suppliers entering the competitive environment — the market will eventual … [Read more...] about Should We Apply Market Economics to Safety?
Back To Work: How Will Manufacturers Look?
Like many business owners, we are incredibly anxious to fully “open back up”. Our primary business is a research and media company serving manufacturers and other industries. While it was exempt from “close” orders because our industry is considered “essential,” we nevertheless shut our office doors in early March, requiring employees to work from home. Reopening our Chicago office will be easy compared to what manufacturers will have to go through — and what many have gone through to maintain operations, if they were allowed to keep their facilities open throughout this time. From acquiring PPE goods (thermometers, masks, disinfectant, hand sanitizer, etc.) to implementing guidelines to maximize social distancing on the shop floor, a myriad of new requirements is critical to operate in the COVID-19 workplace. Many of our friends … [Read more...] about Back To Work: How Will Manufacturers Look?
