Genco Distribution System, a Pittsburgh-based retail distribution services firms, and Slingshot Solutions, a Philadelphia-based logistics software provider, have formed a new venture to provide distribution channels for retailers and manufacturers which allows auction bidders to always be winners.
The agreement combines Slingshot’s proprietary inventory disposition system with Genco’s liquidation channel network over the Internet. The initial cooperative venture is an auction management service that helps retailers and manufacturers move substantial merchandise volume by matching their excess inventory and refurbished/returned goods with bidders at online auctions, the companies said.
The new venture provides access to multiple channels, including overseas liquidators, off-price retailers, and online consumer auctions. Slingshot’s system then determines products that are appropriate to be sold through online auctions, develops individual online promotions for each product and manages all pre- and post-sale customer service. Genco completes the process by providing a full range of logistics expertise and services to warehouse products and ship them to consumers.