Lift trucks: Solving the financial puzzle
Own, lease, or rent? According to lift truck consultants, the method that businesses pay for lift trucks tends to be a sound economic indicator. Here’s how distributors are working to solve the complex needs of today’s fleet owner.
If an analyst told you that a market was in recovery, you’d probably think that was good news. Not so fast. If you were talking about the lift truck market you’d have to get beyond the complexity first. In fact, some business analysts see recovery being as problematic as the recession when it comes to lift trucks.
George Keen is one of those. Keen’s a senior consultant with Currie Management Consultants, a Worcester, Mass.-based firm that specializes in distributor business enhancement strategies. Keen sees the lift truck market as a remarkably complex puzzle, as challenging to understand for sellers as it is for buyers.
According to Keen, customers’ purchasing philosophy and behaviors evolve over time as a market matures.
The problem with lift trucks is that although they are mature products, they employ some of the most leading-edge technologies around—from computers and sensors to alternative power sources.
This leads to unpredictable buying patterns and competing approaches to selling. Depending on their needs, buyers may make their lift truck selection based on product innovation, price, total value, or total cost of ownership. Keen sees these as phases.
About the Author
Tom Andel is a Contributing Editor to Logistics Management
Subscribe to Logistics Management magazine
Too many companies invest in ERP systems but do not achieve the business benefits they anticipated. Sometimes, the ERP solution never fits the way your people and processes work.
AAR reported that June intermodal volume–at 1,117,149 containers and trailers–was up 3.7 percent, or 39,797 units, annually, which now stands as the highest-volume rail intermodal month ever recorded, according to AAR data.
This is the 26th edition of this report, which is based on monthly data from TIA member companies who submit real operating data and respond to questions on business conditions impacting the 3PL sector.
Key sanctions are unlikely to be fully removed until Congress lifts the U.S. embargo on Cuba – something unlikely to take place before 2018 when incumbent president Raúl Castro is expected to step down
The PMI, the ISM’s index to measure growth inched up 0.7 percent to 53.5 over May’s 52.8. This reading marks sequential growth for the third month in a row, which was preceded by five months of sequential declines.