Moov, a data-fueled marketplace for used semiconductor manufacturing equipment, today announced its marketplace now serves as a one-stop shop for the second-hand buying experience, offering customers an ecosystem of aftermarket services including logistics and tracking, digital inspections, refurbishing, and insurance all within one buyer portal.
Moov customers now may opt in or out of services including real-time logistics tracking, insurance, the company’s purchase guarantee, refurbishment, spare parts, contracts and payment options. Customers utilizing the Moov platform include Applied Materials, Western Digital, Maxim Integrated, KLA and Microchip.
To assist with end-to-end visibility, the newly launched Moov Portal empowers clients with real-time tracking of their equipment purchases in cargo categories such as location, temperature, humidity and light exposure.
“Whether your cargo is on the back of a truck or in the middle of the Pacific, Moov provides our customers with purchased-equipment visibility during these times of supply-chain uncertainty,” said Raymond Mahon, Moov’s director of customer success and head of the company’s Austin office. “Our system provides transparency where there was none. Knowing exactly where and how your cargo is being transported is vital given the high-dollar value of the equipment we trade.”
Insurance to Cover the Value of Equipment throughout the Supply Chain
Moov has partnered with a network of best-in-class service providers to enable an ecosystem of aftermarket services. For example, Switzerland-headquartered global transport and logistics company Kuehne + Nagel International AG, the world’s largest freight forwarder, now offers Moov customers insurance through The Nacora Group, a Kuehne + Nagel subsidiary. The insurance covers 100% of the value of all equipment as it moves through the supply chain.
“Unless equipment is already warehoused, used semiconductor equipment changes many hands in a single transaction,” Mahon said. “You need an engineer to de-install it, a rigger to remove it, a crater to package it and a freight forwarder to ship it. The insurance we are rolling out would cover the entire supply chain for our buyers regardless of whether they hire the vendor or if Moov subcontracts them.”
Another example of a value added service Moov will now provide is remote digital inspection, via photographic verification. Moov customers can use digital-inspection to reduce equipment inspection time to a matter of hours instead of weeks anywhere in the world. This service conducts a 15-point fraud check on photograph metadata to ensure image authenticity.
“In many areas, facilities simply aren’t letting outside vendors onsite due to COVID,” Mahon said. “In one instance, it took us three weeks to get somebody onsite in Malaysia to verify tools. With the digital-inspection app, we have now cut that time period down to an hour. And, we’ve taken the burden off of suppliers of hosting inspectors.”
“We are trying to change the way used semiconductor equipment is transacted,” Mahon said. “We have an extremely inefficient marketplace with a lot of bad faith actors in it. We are making it safer, quicker, and easier to buy and sell used semiconductor equipment.”