In the aircraft parts market, some SKUs fly off the shelves easily, but that’s not the case for every part. Some parts sit in warehouses for years, gathering dust, adding up to hundreds of billions in write-offs.
80% of inventory gets snapped up, but the 20% can’t sell itself. It requires someone to do some in-depth spelunking to breathe new life into these forgotten parts and connect them with buyers.
The industry has long been aware of this problem - everyone complains about it but no one has ever done anything about it.
In the aircraft parts market, some SKUs fly off the shelves easily, but that’s not the case for every part. Some parts sit in warehouses for years, gathering dust, adding up to hundreds of billions in write-offs.
80% of inventory gets snapped up, but the 20% can’t sell itself. It requires someone to do some in-depth spelunking to breathe new life into these forgotten parts and connect them with buyers.
The industry has long been aware of this problem - everyone complains about it but no one has ever done anything about it.
Until now.
Oyster Aero decided to tackle this hundred billion dollar problem. By getting the surplus inventory moving again, they are helping companies get cash back on written off parts, and getting shunned and forgotten inventory back into the market.
How are they finding this buried inventory and doing the work to get it sold? What inspired the founder of Oyster? In this episode, Oyster Aero’s CEO, Jeff Jerge joins me to talk about how they’ve gained hundreds of clients in just 8 months, and how the company is tackling one of the industry’s biggest problems.
You’ll also learn:
- How Oyster Aero got 450 sign ups in just 8 months
- Legwork behind the listing: what Oyster Aero does to get parts sold
- Why the key to starting your business is action
- How Oyster Aero deals with with part traceability
We’re high touch for inventory that people shun. We’re the Ritz-Carlton for inventory that’s been forgotten. -Jeff Jerge
Guest Bio
Jeff Jerge is the founder and CEO of Oyster Aero. Oyster Aero was founded on the premise that buyers and sellers desire an innovative online deal marketplace within the Aviation Supply Chain. The name “Oyster” was born from the identification of a unique niche offering, paralleling the act of opening shells to find pearls, i.e., there are pearls in every inventory. We are purposeful in cultivating an exclusive community with validated Buyers, Sellers, and Partners that can communicate and transact in a trusted and secure manner. To learn more visit https://oysteraero.com/ or connect with him on LinkedIn.
About Your Host
Craig Picken is an Executive Recruiter, writer, speaker and ICF Trained Executive Coach. He is focused on recruiting senior-level leadership, sales, and operations executives in the aviation and aerospace industry. His clients include premier OEMs, aircraft operators, leasing/financial organizations, and Maintenance/Repair/Overhaul (MRO) providers and since 2008, he has personally concluded more than 400 executive-level searches in a variety of disciplines. Craig is the ONLY industry executive recruiter who has professionally flown airplanes, sold airplanes, and successfully run a P&L in the aviation industry. His professional career started with a passion for airplanes. After eight years’ experience as a decorated Naval Flight Officer – with more than 100 combat missions, 2,000 hours of flight time, and 325 aircraft carrier landings – Craig sought challenges in business aviation, where he spent more than 7 years in sales with both Gulfstream Aircraft and Bombardier Business Aircraft. Craig is also a sought-after industry speaker who has presented at Corporate Jet Investor, International Aviation Women’s Association, and SOCAL Aviation Association.
For more aerospace industry news & commentary: https://craigpicken.com/insights/.
To learn more about Craig Picken, visit https://craigpicken.com/.
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