Liquidation and Auction Management System

Hummingbird™ Key Features

Hummingbird™ contains all the core components to design and implement world-class liquidation and auction management platform. A major telecommunications carrier uses Hummingbird™ to sell over a billion dollars of smartphones every year.

Scaleability

Process $100s of millions of inventory annually.

Business Intelligence

Provide a 360-degree real-time view of every aspect of the business.

Smart Lot

Create ideal lots, including configuration, sizing, starting bids, and reserve pricing, leveraging AI and past results.

Smart Listing

Publish lots, 3rd party B2B, B2C, and Seller-operated listing platforms. Monitor auction lots across multiple 3rd party market sites and geographies.

Direct Buy

Establish private sales with pre-approved vendors (eliminating unnecessary fees).

Exceptions and Disputes

Systematically manage exceptions and disputes with an online portal and automated workflow.

How Midas Improve Modern RL Operations

The Midas Value Engine (MVE) determines and compares the business value of each alternative disposition to determine the highest residual value. The MVE calculates value using all available information about the device, its condition, the demand, repair cost, current inventory, and expected future pricing in the secondary markets through predictive analytics.​

Master Data Management

The Master Data Management module of MIDAS helps you manage all system configurations in one place. You can do Return Quality Testing, Item Master List, Search Products Details, Vendor Management, Planning and Allocation, Valuation Calculations and various other activities. Price List Section allows you to list cost of for Remanufacturing, Restoration and Salvage per product.

Integration with Supply Chain Management Systems

MVE is tightly integrated with the global data stored in the MDM. MVE calculations are also made with real-time data from OEMs, carriers, other 3rd parties, and current auction results. RL Operation Managers can readily configure complex MVE calculations through a rules editor that exposes all available information.​

Business Intelligence and Analytics

Midas contains a full suite of reverse logistics dashboards and analytics that manage and optimize the reverse process. It provides you quad vision via Descriptive, Diagnostic, Predictive, and Prescriptive Analytics.

Text Heavy With Callout Module

Compares the business value of each alternative disposition to determine the highest residual value.
  • Retail Price
  • Future Price
  • Current Auction
  • Price Grade
  • Inventory On-Hand
  • New Cost
  • Auction Fees
  • Repair Costs
  • Repair Time
  •    Repair Yield
  •    WIP Carrying Cost
  • Blacklist 
  • Device Locked 
  • Carrier Check 

Midas’s MVE provides alternatives

Alternative #1:

Do nothing, auction the device immediately. Consider any factors that would limit resale value. Realize immediate cashflow without any additional handling.

Alternative #2:

Make minor repairs. Consider the age and overall condition of the device. Realize additional residual value routing the device to repair.

Alternative #3:

Remanufacture. Consider the Turn-Around-Time (TAT) and Yield. Rebuild the device to realize maximum resale value

Are you making the right decision every time?

Hummingbird Workflow

Hummingbird provides a complete auction management environment to address the business needs at every level of your operation.

Hummingbird™ Core Capabilities

These capabilities are the core vision for Hummingbird™, the AI-based Auction Management System (AMS) designed for revenue mining. The system manages the intricacies and challenges of managing seller-side auction processes at scale.

Dynamic Auction Dashboards and KPIs

Predictive Analytics “What If” Analysis

Intelligent Lot Creation and Pricing (AI-Powered)

Product Reputation Analysis
(AI- Powered)

Dynamic Auction Scheduling
(AI- Powered)

Unified Order Management and Tracking

Create Private Sales (Direct Buy)

Ability to Publish to multiple Auction Providers

API Integration to Warehouse Management System (WMS) and ERP

Auction Manager’s Dashboard

Hummingbird provides a 360-degree of the business through the Auction Manager’s dashboard. At a glance, the system provides crucial data and immediate access to the workflow through drill-downs and intelligent navigation.

Exception Management

Hummingbird provides the tools to quickly manage and solve auction exceptions through workflow, system integration, and Buyer/Seller automation.

Hummingbird™ 5 Day Challenge

Phoenix offers a free Hummingbird™ 5-Day Challenge, where we provide strategic consulting on our dime. We document your current environment and highlight process areas where Hummingbird™ can add value through ideal lot creation and pricing, resulting in higher revenue. Phoenix will create a Roadmap that includes a phased approach to implement Hummingbird™ in your business. We believe that success breeds success – our system is designed to deliver meaningful value to the customer in as little as three months. At the end of the 5 Day Challenge, Phoenix will present the Hummingbird™ Roadmap results, including:

Hummingbird™ 5 Day Challenge Outline:

  • Review Environment, Current Liquidation and Auction Processes, and integration with primary SCM Systems.
  • Review Auction Lot Creation, Pricing, and Scheduling.
  • Opportunities for Direct Sales.
  • Understanding Current Business Challenges.
  • Develop a list of 10 Top Process Enhancement Opportunities.
  • Develop a Phased Implementation Approach: Milestones, Timelines, and Costs.
  • Return on Investment (ROI) Estimates.
  • Cost Proposal to Get Started.
  • Presentation and Recommendations to Executive Stakeholders.
  • Review Environment, Current Liquidation and Auction Processes, and integration with primary SCM Systems.
  • Review Auction Lot Creation, Pricing, and Scheduling.
  • Opportunities for Direct Sales.
  • Understanding Current Business Challenges.
  • Develop a list of 10 Top Process Enhancement Opportunities.
  • Develop a Phased Implementation Approach: Milestones, Timelines, and Costs.
  • Return on Investment (ROI) Estimates.
  • Cost Proposal to Get Started.
  • Presentation and Recommendations to Executive Stakeholders.
Hummingbird White Paper

Download the Whitepaper

Learn how Hummingbird™ can help your business. We strive to assist our customers when it comes to installation and working with your product. Contact us to inquire further about our licensing, support, and cost models.

Let us help you turn those returns into revenue!

Let us help you turn those returns into revenue!

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