Associated University Presents:
Lift Truck Fleet Replacement & Acquisition Strategies
Long Term Strategies That Focus on Saving Dollars Instead of Cents
Wednesday, September 20, 2017
12:00 PM - 1:00 PM CST
Register: Click Here
The Economic life of capital equipment is the expected period of time during which an asset is useful to the average owner. Estimating the economic life of an asset is important for businesses so that they can determine when it is worthwhile to invest in new equipment and they can allocate appropriate funds to purchase replacements once the equipment has exceeded its useful life. Why are lift truck fleet replacement strategies so important? First, they help to minimize unexpected downtime while working to maximize productivity. For example, an older truck may need more frequent and costly repairs which can result in more downtime than you can afford to have. Secondly, not having an effective fleet replacement strategy can result in increased equipment, labor, maintenance, energy and insurance expenses. Further, industry surveys have found that many companies without documented replacement strategies for their lift truck fleet tend to have 10%-20% more lift trucks than needed. For most companies, reducing just one lift truck from their fleet would conservatively save over $30,000 a year in labor and other operational costs.
In addition to understanding how to determine when a piece of equipment has surpassed its useful economic life is it also important to develop a comprehensive financial acquisition strategy to purchase new equipment. This will allow you to have the appropriate capital budgeted for and will most likely help you save money when the time comes to purchase.
From the perspectives of Fleet Optimization and Financial Specialists, you will learn how to:
-Develop metrics that will allow you to properly determine when your lift truck has reached the end of its economic, life.
-Develop a comprehensive fleet replacement strategy
-Determine a financial acquisition strategy for the purchase of new trucks
-Prepare for financial impacts such as taxes, deductions, changes in economy, etc.
-Recognize key factors for program success
About Associated University:
Associated University was designed to provide supply chain management professionals with access to information on practical solutions concerning the industry's current hot topics.
With live, frequently-held educational sessions hosted by supply chain thought leaders, this resource creates an interactive community that enables professionals to gain access to information covering today's most relevant supply chain management challenges and technologies. In addition to these sessions Associated University offers tools, articles and discussions aimed at providing you with a vast library of resources to utilize.