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Warehouse managers may find themselves ramping up their material handling equipment orders in the coming years, as demand for the machinery is expected to climb on a steady basis.
According to Logistics Management, the demand for material handling equipment will grow by 5.3 percent each year through 2020, accumulating to a $176 billion industry. Although the U.S. is expected to see slow growth in comparison to emerging markets such as China, there is still a lot of room for sales. The more advanced the industry becomes, the more warehouse managers will want to readjust.
It’s important for warehouse managers to stay on top of their material handling equipment needs so they can better plan for when they’ll need to make a purchase. If demand for that particular item happens to lead to a shortage, it could affect production until a replacement piece is found. Forecasting will be critical.
According to Industry Week, warehouse managers should think about how each piece of material handling equipment is used and the frequency. This can help determine the overall longevity of the piece, and can help with estimates of when it might be time for a replacement. Being sure to conduct routine maintenance on the equipment can also help it lengthen its usability.