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THE TRUE COST OF A FORKLIFT TRUCK
When considering purchasing a forklift , it ’ s crucial to assess not only the upfront costs but also the total cost of ownership ( TCO ). The amount you pay your supplier for a truck is only a fraction of its lifetime cost . TCO includes the purchase price of the truck and all the associated expenses , both direct and indirect , that arise during its entire lifespan . The main costs are summarised below . You can save money by choosing the right supplier and trucks that reduces these ongoing expenses .
LIFECYCLE COSTS |
DRIVER PROVISION |
GENERAL RUNNING EXPENSES |
ACCIDENT COSTS |
• Purchase price ( or monthly lease or rental payments )
• Depreciation ( how quickly the truck ’ s residual value falls , year by year )
• Disposal ( recycling of truck at end of life )
|
• Wages
• Training
• Sickness absence ( including illnesses due to workrelated stress and strain )
• Extra driver ’ s wages to cover sickness absence
|
• Insurance
• Fuel or electricity consumed
• New batteries ( replaced at end of service life )
• Other new parts ( replaced due to wear or end of service life – including tyres , fi lters , fl uids , brake pads etc .)
• Maintenance ( labour / time cost plus replacement parts and materials )
|
• Repairs to building and storage structures
• Repairs to equipment
• Repairs to lift truck
• Damage / loss of goods
• Downtime for repairs and clear-up
• Driver absence due to injury
• Replacement driver ’ s wages
|
DOWNTIME
Loss of productivity when forklift is out of action due to :
• Battery charging and / or changing
• Maintenance
• Accident damage repairs and clear-up
OTHER PRODUCTIVITY LOSSES
Anything about the truck that makes the driver less productive , including inferior design in relation to :
• Manoeuvrability
• Ergonomics and comfort
• Vision and precision
• Smooth control
• Safety and protection
In today ’ s data-driven world , managing fleet costs has become increasingly reliant on harnessing the power of information . By taking into account the comprehensive range of expenses associated with owning and operating a forklift , fleet managers can optimize their TCO and improve cost efficiency . Remember , understanding the complete picture of TCO is paramount in making sound investment choices and ensuring long-term success in managing your forklift fleet , so why not contact us at Impact Handling and let our experts assist you in assessing your fleet costs .
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