Harbor Capital Leasing Helps American Conglomerate Create Visibility into Material Handling Equipment Portfolio

The Challenge

A conglomerate had divisions and wholly owned businesses with thousands of locations. Many of the independently run manufacturing facilities did not have a full view into the status of their material handling equipment fleets. The lack of visibility was causing challenges at both the plant level and corporate office. With a range of equipment in each facility, it made sense that some assets were leased, and others were owned; some equipment was in new condition and others were older and needed service or repair. Without a way to view all the material handling equipment in each manufacturing facility, plant managers did not immediately know what needed attention. This situation often resulted in lease overage charges, unplanned for maintenance fees, and more. In the corporate office, the lack of visibility caused financial budgeting and reporting challenges.

The Solution

Harbor Capital Leasing was currently working with one division of the conglomerate and had been successful in helping the organization with custom leasing solutions. As the starting point of that process, Harbor Capital Leasing consulted with their team to create the best leasing solution for that division. Harbor was then introduced to several other divisions. As these divisions also all needed a better understanding of their current material handling equipment, several decided to work with Harbor Capital Leasing to consult and assist as well.

“We conducted several studies for different divisions. After meeting with their team, we found how the division could easily create cost savings in its organization. In addition to the cost savings, we analyzed data that was helpful to ensure their compliance with organizations such as OSHA. As a result, we furthered the relationship and we showed exponential value with working with us,” explained Bahram Mirhashemi, Senior Account Executive, Harbor Capital Leasing.

The Results

By offering our consulting services, we helped all divisions gain control, visibility, and key insights that provide the ability to forecast and budget effectively for the future. By simply analyzing data, each division could easily see the ideal leasing or ownership structure for optimizing their operations and costs.

Through data analysis and working with Harbor Capital Leasing, the divisions also gained greater understanding of how the right leasing solution can reduce and eliminate escalating maintenance costs. In some cases, monthly maintenance can exceed the actual price of the equipment itself. However, when properly leased, maintenance costs are no longer a problem.

“We are passionate about sharing our industry knowledge to help every organization achieve its goals. By using our experience and taking a consultative approach, we are able to deliver the best material handling equipment solution for each customer,” concluded Mirhashemi.

Harbor Capital Leasing specializes in material handling equipment and is a leasing partner for some of the world’s most established and trusted businesses. To learn more about working with Harbor Capital Leasing visit www.harborcapital.net.