More than 20 years ago, Bank of America was looking for a way to derive value from their existing furniture as well as a cost-effective alternative to buying new. The company’s large installed base of aging, “A- grade” systems furniture was in need of a facelift.
Davies Office developed a three-step solution to meet Bank of America’s needs:
- Remanufacture the client’s existing surplus assets
- Apply trade-in/exchange credit for said surplus
- Deliver “like-new” remanufactured furniture from Davies’ inventory to supplement the client’s needs
In addition, Davies provided turnkey services, from design and project management, delivery and installation, through reporting on MWBE spend, cost avoidance and environmental metrics.
“Davies has been an invaluable partner. They continually look out for the bank’s best interests by finding creative ways to save money and capture the value of existing assets. There is no supplier in my years (and years) of experience I’d be more happy to be a reference for”
Supplier Manager in Corporate Workplace
Bank of America
Davies saved Bank of America between 30% and 50% by re-remanufacturing assets instead of buying new. This was a significant enough boost to the bottom-line that the client requested Davies enter into a formal service contract agreement in 1994 that has remained in place every since—and expanded to include nationwide service coverage.