With a new leadership team and a more streamlined workforce, digital metals marketplace Reibus is entering a new phase of its evolution as an innovator in the metals industry.
SMU Managing Editor Michael Cowden hosted Reibus’ new leaders, Temy Mancusi-Ungaro and Christoper Shipp, on SMU’s first Community Chat of 2024 on Jan. 10. Keep reading for a recap of the conversation.
Last fall, Reibus founder John Armstrong took a step back from the company’s day-to-day operations. Remaining on as chairman of the board, he handed the company’s reins over to interim CEO Temy Mancusi-Ungaro. Although new to the metals world, Mancusi-Ungaro has more than 20 years of experience building software companies, bringing a different background and perspective to Reibus.
Chris Shipp, also an instructor for SMU’s Steel 101 courses, had been with Reibus for a year and a half, serving as VP of strategic partnerships and then as SVP of sales and procurement. He left the company last year to pursue another opportunity as president of Kingdom Pipe & Steel. However, he returned to Reibus at the end of 2023, this time as the company’s president.
Before joining Reibus, Shipp was an early adopter of the digital platform while working in the steel industry. “I believe in what we’re doing,” Shipp said on the chat. “That’s why I came back. I couldn’t be more excited in what we’re going to do.”
With Mancusi-Ungaro and Shipp at the helm, the new Reibus is moving forward with its goal of streamlining the steel and metals supply chains.
Mancusi-Ungaro said there have been many changes at Reibus in addition to the new management. The company, established in 2018, grew quickly, he said, but things started to take a turn last year in a high inflationary environment. Realizing that Reibus can’t be everything to everyone, the company made 50 layoffs last year, and additional layoffs were made more recently. While commenting on the more recent layoffs, Mancusi-Ungaro said the company is continually assessing how it can be more efficient and will continue to do so to bring more focus to the business.
One of the big things you’ll notice with the new Reibus is a focus on working with its customers, according to Mancusi-Ungaro. Shipp said they want to evolve with their customers by focusing on their customers’ specific needs. Service centers are Reibus’ biggest customers, and different-sized stockists have different needs. While there may be one solution for one company, another solution may be needed for another one. They will continue to evolve that, Shipp said.
Another change is that Reibus is moving away from having scrap metal on its platform. “It wasn’t a fit,” Shipp explained. “Some things work, some don’t. That’s business.”
The Atlanta-based company is very focused on logistics solutions at present. The real-time tracking of trucks has been a popular area on the Reibus platform. Reibus’ technology now provides instantaneous information on where those loads are and when they will arrive.
“Gone are the days of multiple phone calls of ‘When’s the truck going to be there?’” Shipp said – something that drove him crazy in the past when he ran the supply chain for a manufacturer and a service center.
To hear the full conversation, SMU members can access a replay on our website.
Be sure to join us for SMU’s next Community Chat on Jan. 24 featuring CRU’s principal analyst and iron ore expert, Erik Hedborg. You can register here.
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