Use this online calculator to find out how much money it costs to store a pallet in a warehouse. This calculator can be used to evaluate the leased land cost for various forklift options (e.g. sitdown counterbalanced forklift vs stand up counterbalanced forklift or narrow aisle forklift vs very narrow aisle forklift).
It can also be used to evaluate different warehouses available on the real estate market. If in one warehouse the lease cost is lower per square foot, but the storage height allows for fewer pallet storage levels, what is the actual cost per pallet stored by warehouse?
Leave "Inventory turns" at the value "1" to see the cost to your company of each pallet slot. Enter the number of inventory turns to see to cost burden of storage on each pallet. This demonstrates the value of turning your inventory.
Finally, at the bottom, you can see what you would save in warehouse lease costs (the money you pay to rent a warehouse) when you convert from Wide Aisle forklifts to Narrow Aisle forklifts to Very Narrow Aisle turret forklifts and Deep Reach forklifts.
To begin, fill in the gray boxes and click calculate.