The world of materials handling and logistics is constantly changing, but at the moment, things are more uncertain than ever.  The COVID-19 crisis began at the start of the year, but already it’s caused huge changes to manufacturing, consumer buying habits and ways of working. On top of all this, the UK’s approaching withdrawal from the European Union continues to create uncertainty for businesses on both sides of the channel, especially those that move components or finished goods between the two markets.

Owning and operating a forklift truck naturally involves many different costs. There's naturally the upfront cost of the machine itself, or regular payments if it's financed, as well as costs for routine or avoidable service and maintenance, and downtime.

If you’re looking to get a new forklift truck which will provide you with years of reliable service, rather than just a short-term hire forklift to help you deal with periods of high demand, your first thought may be to purchase one outright.

A common question which often pops up when big capital acquisitions are being considered is - 'should we buy or lease?'

If you're looking to bring on new machines on a long-term basis, both options have their advantages, and bring many of the same benefits — but depending on the nature of your company and what your daily challenges are, one solution will likely be more beneficial.

Owning and operating a forklift truck naturally involves many different costs. There's naturally the upfront cost of the machine itself, or regular payments if it's financed, as well as costs for routine or avoidable service and maintenance, and downtime.

Over the course of its life, the total cost of operation for a forklift truck can be much more than the figure on its price tag.

On 1 January 2019, IFRS 16 Leases will come into effect, and it's going to have a big impact on the material handling industry.