When to Retire Your Forklift
When to Retire Your Forklift?
As soon as you invest in a new forklift, one of your first thoughts is likely going to be about how long the forklift will last before it needs to be retired. At ARPAC, we provide new forklifts and forklift repairs in Edmonton. Our experts also offer complete Edmonton forklift fleet management solutions, including recommendations about whether or not it’s time to retire a forklift. We’ve put together this helpful guide to help you determine if the cost of continuing to run an older forklift is worth it.
How Long Will My Forklift Last?
The lifespan of a forklift is measured in hours and will depend on how it is used and how well it is maintained. On average, the typical forklift can last anywhere from 8,000-20,000 hours. However, harsh use and a failure to keep up with proper maintenance can reduce a forklift’s lifespan significantly.
Keep in mind that when considering the lifespan of a forklift, you should be concerning yourself with its economic lifespan rather than its total lifespan. In other words, a forklift needs to be retired before it is no longer economical to pay for forklift repairs in Edmonton.
How to Calculate Your Forklift’s Cost Per Hour?
To calculate your forklifts cost per hour, you’ll need to know its operation time and annual maintenance costs, but there are a few things to consider before deciding on the numbers to be used in the calculation. The hour meter should be based on electrical current to the traction motor, not simply key switch hours, which is like sitting in a parked car listening to the radio; no miles are accumulated. Key switch hours will result in an artificially low cost per hour.
The second component in the cost per hour calculation is understanding the cause for the maintenance. Forklift maintenance can be grouped into three baskets, 1) Planned Maintenance, 2) Unplanned Maintenance, and 3) Repairs due to damage or abuse by operators. 1 & 2 should be added to arrive at the base maintenance cost, then divide your traction motor hours into this number to ascertain the true cost per hour. Damage and or abuse will likely result in unplanned repairs, but the quality of the forklift should not be questioned by adding in this preventable cost and inflating the cost per hour.
As the forklift ages and hours accumulate the base planned maintenance should be continued, and potentially increased, this will help you to monitor wear thus allowing you to schedule planned downtime for larger repairs which could otherwise create a breakdown resulting in business disruption and require a phone call to Arpac in Edmonton for a Rental forklift.
When working with a Forklift Service Company like Arpac, make sure you discuss segmented service billing, this will allow you to categorize repairs into damage, tires, load wheels etc… this will help you to understand changes you could make to your environment to reduce future maintenance costs.
How Maintenance Costs Impact Productivity and Trade-In Value?
Effective forklift fleet management in Edmonton means striking a balance between a forklift’s maintenance costs, productivity, and trade-in value. Rising maintenance costs and an increase in downtime is naturally going to mean a decrease in productivity. The loss of funds going to repairs will be compounded by the loss of revenue due to downtime. The trade-in value of your forklift – the amount you can earn back when trading it for a new forklift – will decrease right along with its productivity.
If your forklift is around seven years old, then you should consider trading it in for a new one. Older forklifts may start needing thousands of dollars in repairs, which simply isn’t worth it, and when adding that to the fact that older forklifts lack the efficiency ratings of the newer equipment they are simply not worth the continual investment.
Expert Forklift Fleet Management in Edmonton
While you should definitely keep track of the cost and value of your forklift in-house, you don’t have to handle everything on your own. With ARPAC’s forklift fleet management in Edmonton, you can rest easy knowing that your fleet is kept in good condition and that your bottom line is the top priority. We’ll make recommendations about when it may be time to retire a forklift and help you find the best replacement option as well.