Maintenance managers and warehouse supervisors understand that forklift maintenance is a critical aspect of lean warehousing and operations. Keeping these essential pieces of equipment running efficiently is vital for productivity and optimization. This guide and the calculator (look up matrix) provides an estimate of the costs associated with maintaining a forklift based on term, model type, and annual hours of operation.
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Understanding Forklift Maintenance
Maintenance costs can vary significantly depending on the model type of the forklift and the frequency of use. Electric forklifts, for example, may have different maintenance requirements compared to internal combustion models. Additionally, the term of maintenance'whether monthly or annually'will also impact the overall cost.
Factors Influencing Maintenance Costs
Several factors determine the cost of maintaining a forklift, including:
- Model Type: Different models have varying parts and service costs.
- Annual Hours: More usage translates to more frequent maintenance needs.
- Wear and Tear: The nature of the work environment affects maintenance frequency.
Monthly Maintenance Estimates
Monthly maintenance typically involves routine checks and minor repairs. Costs may include:
- Lubrication and filter changes
- Inspection of brakes and electrical systems
- Tire and wheel maintenance
Annual Maintenance and Repair Expenses
Annual maintenance often includes more extensive servicing and can prevent costly repairs down the line. Key expenses may cover:
- Engine or motor servicing
- Replacement of significant components like forks or transmission
- Comprehensive safety inspections
Cost Estimation Based on Usage
The annual hours a forklift operates play a significant role in determining maintenance costs. A forklift operating 2,000 hours a year will have different maintenance needs compared to one used for 500 hours annually. It's crucial to track usage to accurately predict maintenance budgets.
To estimate the annual and monthly forklift maintenance costs, use our forklift maintenance and repair costs estimator below.
You will need to know how many operating hours you will use. Like miles on a car, the operating hours on a forklift determine the service and repair intervals for a forklift. The more you use a forklift, the more you can expect the maintenance costs to go up.
How to Estimate the Cost of Forklift Maintenance
Every forklift dealer has historical data on what it costs to maintain a forklift based on hours. They use the cost per operating hour to determine how much a full maintenance contract will cost. Using this guide, forklift dealers and repair companies can accurately estimate the retail price for forklift maintenance.
Failing Forklift Batteries Increase the Cost of Forklift Maintenance
When a battery if fully charged, the voltage of the battery is usually a few volts higher than the nominal voltage. What that means is that the voltage of a 36 volt battery is often 38 volts or more when fully charged.
Similarly, and discharged battery does to produce the same voltage. The drop in voltage can be 4 volts less than the nominal voltage. Therefore, a 36 volt battery can be as low as 32 volts when discharged.
As Volts Decrease Amps Increase to Maintain Current
Your forklift draws current to run. When volts reduce, amps increase to deliver the same current. Therefore, as the a battery discharges, the voltage lessens and the amps increase, putting greater strain on the electrical components inside a forklift truck.
Therefore, expect the price of forklift maintenance to increase when a battery underperforms.
How Much Does it Cost to Maintain a Forklift?
Use our calculator below to estimate the cost to maintain a forklift and the estimated maintenance savings you can expect from converting your fleet from batteries to hydrogen fuel cells. Add an estimated additional 14% (28% total maintenance savings) when switching from internal combustion forklifts to electric forklifts equipped with fuel cells. The reason is electric forklifts cost approximately 14% less to maintain compared to the equivalent I.C. model.
For more handy warehouse efficiency calculators click here.
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Fuel Cells and Lithium Batteries Deliver a Constant Voltage and Reduce the Cost of Forklift Maintenance
Image: Fuels cells reduce forklift maintenance costs due to the constant voltage they deliver
Fuel cells for forklifts deliver a constant voltage, usually about 40-volts for a 36-volt lift truck. This keeps amps low and reduces the heating and cooling cycle that damages electrical components, adding to maintenance costs.
Lithium batteries deliver a more consistent battery voltage than lead acid batteries. Therefore, there is a reduced amp draw through the motor compartment than see otherwise from a lead acid battery, reducing the wear and tear and overall maintenance expense.
Interested to Learn More about Fuel Cells for Forklifts?
Here is a fuel cell designed to work in a forklift. If you want to learn more about fuel cells, click here.
Image: forklift fuel cell with the cover offImage: Operator refueling a forklift fuel cell. It takes on average only 90 secs to refill the forklift with enough hydrogen for a full shift
Conclusion
To maintain lean operations and ensure reduced waste in both time and resources, consider consulting with experts in the field. Lean Inc. offers specialized knowledge in lean management and can assist in optimizing your maintenance strategies.
For a more detailed breakdown of costs and to explore how Lean Inc. can help you achieve improved productivity and lower costs through efficient forklift maintenance, contact us today.
There's a reason you don't take out a ten-year loan to buy a new car. At first blush, it might look like a good idea. You'd get some of the lowest monthly payments. And spreading out the cost of that shiny new machine makes less of a dent in your budget. But odds are that car is going to need some major repairs over the course of that decade. And you don't want to be making payments on a vehicle sitting in the shop.
Forklifts follow a similar line of reasoning. Only instead of length loans, it's the lure of budget pricing that catches many trusting buyers. But like a car, it's not just the upfront price you pay when investing in a forklift. You're also investing in its reliability. This is because every repair and service call adds to the total cost of operation.
If you want to learn more, please visit our website electric forklift troubleshooting.
So how do you know which forklifts are a good investment and which aren't? That's where calculating forklift operating cost per hour can help. Read on to learn more about forklift cost per hour and how you can use it to get the most out of your investment.
Why Does Cost per Hour Matter
A forklift's cost per hour is the total you spend on the forklift divided by the number of hours it's in operation. It is, in effect, what you pay per hour to keep your forklift running.
Forklift cost per hour is an easy way to distinguish between a good investment and a poor one. First, calculating the cost per hour allows you to make an apples-to-apples comparison between two forklift models. One model might be cheaper to buy than the other, but if the cost per hour is higher, it will be more expensive in the long run.
Second, forklift cost per hour changes as the forklift ages. Keeping an eye on this climb in cost per hour will tell you when it's time to replace your existing forklift with a newer model. This information keeps you from wasting money on repairs for a forklift that has become too costly to operate.
Forklift Cost per Hour Calculator
Calculating forklift cost per hour isn't as simple as taking the purchase price and dividing by 24 hours. To calculate the actual cost per hour of your forklift, start by collecting the following information:
- Purchase price of the forklift
- Expected lifespan of the forklift
- Annual operation time of the forklift
- Repair and maintenance costs
- Replacement part costs
- Fuel costs
Let's look at some theoretical examples to show you how these calculations work and how they change yearly. We'll use round numbers to keep the math simple. And these examples will exclude fuel costs for the sake of brevity. But you should include fuel cost in your forklift cost per hour calculations.
We start with two new forklifts: Forklift A and Forklift B. Forklift A is a high-quality model that costs $25,000. And Forklift B is a budget model that costs $20,000. You expect both forklifts to serve at least 5 years and run about 2,000 hours each year. Dividing the purchase price by the length of service and then dividing that by the annual operation time, we get $2.50/hour for Forklift A and $2.00/hour for Forklift B.
That's our baseline. Now let's put them in operation and see how those expenses change by calculating the average forklift cost per hour.
Year One
You run a tight ship and ensure that each forklift gets routine maintenance every 200 hours of use. And let's say the cost of this is $100 each time. That comes to 10 maintenance calls, totaling $1,000. Then every 2,000 hours, you have a complete overhaul performed on each forklift. This runs you $1,500, making the total spent on service $2,500 for the year. That's an additional $1.25/hour for each forklift. So at the end of year one, Forklift A costs $3.75/hour, and Forklift B costs $3.25/hour to run.
Year Two
In the second year, you have all the same expected expenses. But Forklift B needs two small service calls. You call a technician and find the issues aren't covered by warranty. The first call costs you $750, the second $300, and you lose 8 hours of operation time between the two.
That makes the annual service cost of Forklift B $3,550 for the year, and it only ran for 1,992 hours. This increases the additional cost per hour to $1.78/hour. So at the end of the year, Forklift B costs $3.78/hour to run, but Forklift A still costs $3.75/hour.
Year Three
In the third year, things start to get challenging. Both forklifts need new forks and tires, totaling $1,200 per forklift. But Forklift B goes down again and in a big way. The really expensive parts are covered under warranty. But the service call still costs you $2,000 and puts the forklift out of commission for three 8-hour shifts.
At the end of the year, the maintenance cost for Forklift A is $3,700, and Forklift B is $5,700. Forklift A ran the full 2,000 hours while Forklift B only ran 1,976. This makes the service cost per hour for Forklift A $1.85/hour and Forklift B $2.88/hour. So the total cost per hour is $4.35/hour for Forklift A and $4.88/hour for Forklift B.
What You Learn from Cost per Hour
While Forklift B was the least expensive option in year one, it rapidly became more costly to operate than Forklift A. And that's without considering downtime losses from truck repairs. These expenses include forklift rental, wasted work hours, and delivery delays, as discussed in the video below. Cost per hour tells you the actual price of ownership for each forklift. With this knowledge, it's pretty clear that Forklift A will be the better choice in the long run.
The good news is that you can ask for all this information from your dealer while researching your forklift options. Just be sure to ask for the cost per hour and the data the dealer uses to calculate that value. Some unscrupulous dealers will use 8,544 hours (the total hours in a year) rather than the actual forklift operating hours to make the cost per hour appear lower.
Even if you aren't yet in the market for a new forklift, it's valuable to calculate the cost per hour for your existing fleet. If a forklift's cost per hour spikes upward, this tells you it's reaching the end of its economic life.
Where To Learn More About Forklift Fleet ROI
A forklift is a serious investment for any warehouse. Yet only some forklifts last long enough to show a return on that investment. Calculating your forklift's cost per hour gives you the necessary information to ensure you get the maximum return out of your fleet.
But, while the cost per hour is an excellent indicator of a forklift's economic life, there are other tough questions you should ask your dealer before you consider replacing your forklift. Ask about truck population and saturation, inventory size, and supply chain maps. And don't hesitate to ask the dealer for other customers you can contact for a review of their experience working with that truck and that dealer.
There are a lot of questions to answer when considering the ROI of your forklift fleet. But Southern States Toyotalift can help. To learn more about how to get the best return on your forklift investment, contact our Solutions Team online or visit one of our locations throughout Florida and Georgia.
Florida
Jacksonville
Lakeland
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Orlando
Tampa
Winter Haven
Georgia
Albany
Macon
Columbus
Valdosta
Further Reading
Repair Vs. Replace Your Forklift: What Equipment Managers Need To Know
Is Your Forklift Fleet Robbing You Blind?
Mobile Forklift Repair: Get Your Forklift Fixed Fast
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