Industry News

In November 1924, a modest 30-page catalog made its debut in the industrial world. My great-grandfather, Thomas P. Scanlan, introduced it with these words:"With this issue, Surplus Record makes its initial appearance. It enters the group of trade and industrial publications as the marketing guide for used and surplus new equipment. It serves buyer and seller… It is truly the Industrial Bargain Sheet." Today, as we celebrate the 100th anniversary of Surplus Record, I reflect on a century of dedication to that original mission: serving as the premier marketplace for used and surplus industrial equipment, and staying true to our roots as "The Industrial Bargain Sheet." The Visionary BeginningsIn the early 1920s, while working for "American Machinist," my great-grandfather recognized a growing demand in the used machinery market. He … [Read more...] about A Century of Surplus: Celebrating 100 Years of Surplus Record!

As we wrap up the week at the 2024 International Manufacturing Tool Show, it's evident that machine tool sales—especially CNC machines—are slow. However, dealers are on the hunt, looking to buy. If you’re a seasoned dealer, you’ve likely experienced this before—the ups and downs that come with selling used equipment. The years 2021-2023 were some of the best ever for purchasing equipment, thanks to international supply chain disruptions caused by COVID-19, which led many to buy used and surplus equipment domestically. Manufacturing surged again as the economy rebounded from COVID, but as the old saying goes, nothing lasts forever. Talking to dealers at the show, most agree: it’s slow right now. Why? Let’s take a look at the economy. The markets had a pretty lackluster summer. Interest rates are hovering above 6%, but we're beginning to … [Read more...] about October 2024 – Buy or Die an In-depth Look at Dealers Buying Equipment During a Downtime

The global machine tools market is on a promising trajectory, with expectations for significant growth over the nextdecade. According to recent research, the market, valued at $95.29 billion in 2023, is projected to expand to $141.61 billion by2032, reflecting a compound annual growth rate (CAGR) of 4.5%. This growth is driven by several factors, including advancements in technology, the expansion of the metalworking industry, and an increasing demand for precision and efficiency in manufacturing processes. (Global Newswire - August 2024) Key Machine Tool TypesMachine tools encompass a wide range of equipment essential for various manufacturing processes. Among the most significant are CNC (Computer Numerical Control) machines, including lathes, mills, drills, and grinders. Each of these tools plays a critical role in the production of … [Read more...] about Growing Machine Tool Market Forecast vs Slow Manufacturing Outlook

On July 19th, 2024, the world witnessed the single largest IT outage in history, a day that underscored the fragility and interdependence of our global digital infrastructure. The culprit? A seemingly innocuous software update from CrowdStrike, a name many were unfamiliar with before the outage. (Luckily, Surplus Record was not affected.) CrowdStrike is a leading cybersecurity firm based in Austin, Texas, known for its advanced threat intelligence and endpoint protection services. Their Falcon platform is widely used to detect and respond to cybersecurity threats, making them a crucial player in the realm of digital security. Despite their importance, CrowdStrike operated largely behind the scenes, ensuring the safety and stability of digital operations for businesses and governments worldwide. However, their relative anonymity changed … [Read more...] about The Day Computers Shutdown – July 19th, 2024

Guest Blog Post by Fiona Chan The Introduction of the Industrial Circular Economy ‍The problem of industrial waste has been a long debated topic since the industrial revolution.  While the advances in technology have enabled a higher standard of living for us, the amount of waste created from manufacturing, transporting and ultimately disposing of products, machinery and equipment no longer used has sparked global concern on the negative impacts on future generations. In the US alone, It is estimated that each year, 7.6 billion tonnes of industrial waste is generated. As the industry continues to grow, it is clear that a solution is needed to ensure sustainable growth to drive resource usage efficiency and decrease environmental impact.  ‍These concerns have helped elevate the concept of the industrial circular … [Read more...] about How Equipment Resellers Are Powering the Industrial Circular Economy