Logistics Industry Grows in a December 2023 – Will You Make or Lose Money Due to Forklift Accidents

Material Handling Wholesaler released in their January 2024 issue that the December 2023 logistics manager’s index report or LMI at 50.6. That’s a big win for the logistics industry. Why does this seem important? The overall key takeaways from the article states that, “Growth is INCREASING AT AN INCREASING RATE for: Warehousing Utilization, Warehousing Prices, Transportation Capacity, and Transportation Utilization.” On the other side, “Growth is INCREASING AT AN DECREASING RATE for: Inventory Costs and Warehousing Capacity, Inventory Levels and Transportation Prices ARE DECREASING.” Hold on to your knickers.

What is the LMI Score?

According to the CSCMP, the LMI is a calculation in which a score of 50 percent means that the logistics industry is expanding. When the score is below 50 percent, the logistics industry is contracting. The score is calculated by combining different areas including “inventory levels, inventory costs, warehouse capacity, utilization, price, transportation capacity, utilization and prices.” You can find the monthly LMI Index reports at the above link.

A Lot of Movement

As the logistics industry continues to hum along in a positive way, that means that there’s a lot of movement going on. Not just trucks on the road, but those trucks need to be loaded. The increase in customer demand does mean those forklifts or all lift trucks need to move more, move faster and move safer if everyone is to make money and not invest in medical bills and contractors to fix everything else.

Two Forklift Safety System Options

There are two options that companies can choose to help reduce or keep forklift accidents down where they are now. The first is a digital inspection which includes impact detection and the second is the more powerful pedestrian detection system, both are driven with AI or artificial intelligence with machine learning. This type of technology supports the forklift operator by consistently being the eyes and ears when the forklift operator needs to take his eyes off of who’s around the forklift. If the forklift operator can’t take his eyes off the surroundings, how will they get their work done.

Digital Inspection with Impact Detection

This technology platform brings pre-shift forklift inspection into the new era of capturing data and analyzing it for better decision making for the environment that forklifts and workers coincide. The forklift digital inspection is exactly like you do inspections now with a couple of exceptions. First, you can choose which section of the forklift inspection you want to randomize the questions. This works to increase accuracy of the answers. It then captures the answers, and in real-time, calculates key information in the telemetry Dashboard. This can be accessed anywhere through a secure portal.

Pedestrian Detection or Proximity Detection

This forklift safety system uses AI technology to detect humans and objects… separately. This is critical due to the actions of the forklift operator. What if the forklift operator decides to move boxes left is the aisle, and puts the forks underneath to only find out that there’s a person behind there… bent over. The SIERA.AI forklift safety system will detect the human and warn the operator as such. Critical decision making.

Again, all information is captured in real-time and sent to the telemetry Dashboard for tracking, reporting and analysis.

Forklift Access Control

However, let’s not forget forklift access control. This is vital for ensuring unauthorized persons to stay off, those that are not certified to stay off, and if you get into a bit of a fender bender, the system will automatically shut off with a warning to pull over in 20, 30, 60 seconds. The timing is your call. All this prevents accidents from happening because the forklift will not even start. That’s the kind of forklift access control every company needs to protect their investment and employees simultaneously.

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Contact us today at sales@siera.ai or call us at (512) 817 0702.