The demand for lift tables has skyrocketed over the past few years, because they’re a versatile and affordable way to increase space in your warehouse or shop. Here’s how to calculate ROI for lift tables and ensure you get the most bang for your buck.
What is Return on Investment (ROI)? It’s a metric that measures the return from an investment relative to the investment itself. It takes into account how much is invested and what the yield is on that investment.
A smart way to make sure your warehouse operations run smoothly is having both pallet jacks and lift tables. The key difference between these two pieces of equipment lies within their design. Pallet jacks consist primarily of wheels that provide mobility while not compromising stability or strength for lifting heavy loads. Lift tables, on the other hand, use steel channels with hydraulic cylinders so they can be raised and lowered quickly with push-button ease. Generally, they are used in warehouses, manufacturing, production and manufacturing for loading/unloading pallets, boxes and moving items along the production line.
Lift tables are useda wide range of businesses and industries. They help with organization and make general operations of warehouses, factories, garages and production lines easier. A lift table is generally chosen by knowing what type of load needs to be moved, how heavy it will be, and what height you need it at. Where do I find them? palletlift.ie is Ireland’s leading supplier of Lift Table solutions.
Each type of lift table has its own set of benefits and drawbacks. Before purchasing any product, you need to take into account what you will be using it for. For example, the weight of the pallets or items you will be putting on it should be a key consideration. If you are going to use it for heavier materials like wood, metal, stone or rock then consider buying a tandem style lift table. If you are intending to have the lift table hidden in the ground or level with the floor you might consider a low profile lift table. And, if you primarily work with pallets you might consider an E type or U type pallet compatible lift table.
Tandem style tables (shown) can handle much more weight than their lighter counterparts because they are built differently.
The cost of lift tables is heavily dependent on the requirements you have, if you speak to a lift table expert they will be able to help you determine what is best for your business.
For example, there are basic models that can only lift the smaller weights while other models can handle more than 3,000kgs, as you would imagine the price differs quite a bit in that instance.
As an example of how to calculate ROI for your lift table let’s use company ABC as an example. To start, we’ll calculate their current inbound labour costs over one year (240 working days).
Company ABC currently has three employees who are responsible for lifting materials with little or no automation assistance. Assuming there is a considerable amount of manual lifting extra staff will be required due to the physical toll taken on the employees. This adds to additional staff costs.
Productivity should also improve with automation, which will result in more tasks completed in less time.
Missed work due to injury will be reduced as there is less repetitive strain injuries experienced by staff.
First lets calculate your current costs
Depending on the type of work you are doing and the type of table you are doing your exact ROI will vary. So once you have the cost of your Lift table, divide that by the number of years it is expected to last, This is your annual capital cost. Lastly all we need to do is divide the Total Current Cost by the cost of the lift table.
See a worked example below.
ROI = 1269%
Visit our new website to view the full range of lift tables.
Simply leave your details and a small bit about your requirements and we will be in touch shortly.
Simply leave your details and we will be in touch to arrange your free Site visit.