Eindhoven, August 28th, 2018 – Although its predicted huge potential, today many companies are struggling with the implementation of refurbishment business resulting in underutilization of its potential. Main cause is the lack of knowledge of this type of business and misconceptions about it. DLL, a global vendor finance company and enabler of this business, dove into the organizational implications of starting refurbishment business and tried to deepen the understanding of its concept. All insights have been published in a new whitepaper, ‘Refurbishment: the road to success’.
The value of refurbishment business
Refurbishment is all about bringing a used product up to a certain, pre-determined quality level by replacing worn and critical parts and making it (almost) look like new. Refurbishment is an indispensable step in keeping used assets in a closed loop, however, it may not be confused with ‘remanufacturing’, says Egbert de Jong, Vice President Product Development at DLL: “Remanufacturing includes restoring or transforming a used product to at least, a like-new condition, with performance levels often exceeding those of a new product. Remanufacturing is overall costlier than refurbishment.”