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WAREHOUSING, HANDLING & STORAGE NAVIGATING THE COST CRUNCH:


REAL WORLD SOLUTIONS FOR WAREHOUSE AND LOGISTICS OPERATIONS


By Ron Farr, director, W


Warehouse Sales - EMEA for Yale Lift Truck Technologies


arehouse and logistics operations have faced a relentless tide of ever-rising costs in recent years. Warehousing property costs alone, comprising rents,


service charges, and taxes, grew by 10.1 per cent in the 12 months to July 2023 across 52 global markets. Add in other rising costs, from labour and energy expenses to equipment maintenance and safety concerns, and the pressure to improve efficiency while reducing overheads can be overwhelming. Many companies may be looking forward to a day when automated solutions can help overcome their labour issues. However, for most companies, that day still lies in the future and may remain an expensive dream. Fortunately, there are many real-world solutions that can help companies grapple with the issues they face today. Innovative approaches and strategic investments are helping forward- thinking companies not just weather the storm but thrive amidst these financial pressures.


THE TELEMETRY REVOLUTION One of the most powerful tools in the modern warehouse manager's arsenal is advanced telemetry. These sophisticated systems provide real-time data and insights that can revolutionise fleet management and operational efficiency. By implementing a state-of-the-art telemetry


system, warehouse operators gain unprecedented visibility into their operations. These systems can track equipment usage patterns, identify underutilised assets, and highlight areas where resources are being stretched thin. This granular level of data allows for informed decision-making about fleet


composition and task allocation. For instance, telemetry can reveal that certain


forklifts are sitting idle for long periods, while others are constantly in use. This information enables managers to right-size their fleet, potentially reducing the number of vehicles needed and cutting associated costs. Additionally, by redistributing workloads more evenly across the available equipment, companies can extend the lifespan of their assets and reduce wear and tear. Moreover, telemetry systems can monitor equipment performance and maintenance schedules in real-time. This proactive approach to maintenance can significantly reduce downtime and prevent costly breakdowns. By addressing minor issues before they escalate into major problems, warehouses can keep their operations running smoothly and avoid the hefty expenses associated with emergency repairs or unplanned equipment replacement.


THE POWER OF VERSATILITY In the quest for cost reduction, versatility is key. Investing in multi-functional equipment can yield significant savings compared to purchasing multiple specialised machines. Consider, for example, a single piece of equipment that can function both as an order picker and a pallet truck or a reach truck that


26 OCTOBER 2024 | FACTORY&HANDLINGSOLUTIONS


can go beyond the warehouse to load and unload lorries outside. This versatility allows warehouses to accomplish a wider range of tasks with fewer machines, reducing capital expenditure and maintenance costs. It also optimises warehouse space, as fewer pieces of equipment mean more room for inventory or other operational needs. Furthermore, versatile equipment provides


operational flexibility. As business needs change or seasonal demands fluctuate, having adaptable machinery allows warehouses to quickly pivot without the need for additional investments. This agility can be a crucial factor in maintaining efficiency and controlling costs in a dynamic business environment.


OPERATOR ASSISTANCE SYSTEMS: WHERE SAFETY MEETS SAVINGS Safety is paramount in warehouse operations, but it's also intrinsically linked to cost management. Accidents and injuries not only pose risks to employee wellbeing but can also result in significant financial losses through damaged infrastructure, increased insurance premiums, and lost productivity. The economic cost of forklift accidents involving injured workers can be as high as €34,000 in direct costs per injured worker and €130,000 in indirect costs. This is where Operator Assistance Systems


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