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5 Simple Strategies to Cut Heavy Equipment Operating Costs

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Running a business is no easy feat. Employees to manage, salaries to pay, overhead costs to handle, and even competition to out-wit. But when it’s all said and done, there are some simple solutions that make it a little less financially taxing. With the number of machines there are to choose from on your worksite or in your warehouse, the first thing you can do is look for the best practices and the types of machines that can cut operating costs. Whether you’re ready for a new machine or are looking to maintain the equipment you have, take a look at these 5 simple strategies to cut heavy equipment operating costs.

1. Preventative Maintenance

Think about this – would you rather go to the dentist twice a year for a cleaning or wait three years and realize you need a root canal? Your biannual cleanings are preventative maintenance for your oral health. On the same note, checking fluids, belts, tires, and the like for your machine is preventative maintenance that can save you and your machine the headache of a much more strenuous situation. A planned maintenance contract can save equipment owners a significant amount in time and cost.

2. Establish a Communications Plan

Part of training a new warehouse member should be who to call in different situations. Theft, damage, injury, you name it – they all need a communications plan. As you well know, heavy equipment is loud, there are blind spot when drivers are in the machines, and without a solid communication plan in place, there’s a lot of room for mishaps. In every worksite or warehouse that has heavy equipment, there needs to be a communications plan. With a robust one, you’d save your team the time and financial costs of preventable blunders.

“Developing a communications strategy as part of your overall emergency plans can be crucial in the success of how your emergency plans function in a time of crisis. Determine who will be responsible for sending messages, and how they will be transmitted.”

3. Prepare for the Worst

This is why companies of all kinds have contingency plans… the what if and just in case scenarios are all too often not just scenarios. They are real, and you need to make sure you have a plan in place in case a belt in the machine breaks, an employee falls from a scissor lift, or a piece of equipment has irreparable damage. Let’s face it, the last thing you’d want to add to your operating costs is fixing an otherwise avoidable repair. What are the next steps in place (outside of a communications plan) to ensure that your business keeps running as smoothly as possible?

4. Don’t Skimp on Quality

Although a brand new - or at least new-to-you – forklift would be a nice addition to your aging fleet, that’s not entirely what we mean by quality. Yes, when you purchase a new forklift, you want to make sure it has what you need to operate efficiently now and well into the future. But through a macro lens, you have to be able to foresee how that piece of machinery will maintain that efficiency without cutting into your operating costs.

5. Safety Comes First

It might be last on this list, but it’s paramount to saving your employees and your business unnecessary down time. Unfortunately, work-related injuries typically average about $38,000 in direct costs and $150,000 in indirect costs – one injury could cost your company almost $200,000. Keep your employees informed about equipment repairs, problem behaviors, and organizational best practices to ensure your team and your company stay safe.

Despite the many financial commitments of running a business, the equipment you use doesn’t have to contribute to that. Take a look at the pros and cons of equipment before you buy so you know the quality of the machine and the operating costs to expect before you purchase it. A robust safety plan can save you from unnecessary expenses, but when the worst happens the best thing you can do is be prepared with a communications plan.

Interested in learning more? Check us out to see how our service departments can help you to cut costs.

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