The material handling industry has changed drastically in the past few decades, particularly after the start of the 21st century. This can be attributed to the fact that the needs and dynamics of economies around the world have changed rapidly after the advent of the age of technology. As the needs have modified, so too have the products that cater to them.
Material handling equipment is no exception to the trend. Where once simple and conventional equipment was sufficient to fulfill the needs of the industry at large, now more sophisticated and versatile technology is needed and used. This is evident by the introduction of better, faster and more efficient forklifts like the Moffett truck mounted forklifts that took over the material handling industry by storm.
Hiab, the manufacturers of Moffett, introduced them towards the end of the 20th century and adapted them to the changing needs of the industry with time. As a result, today Moffett forklifts are used in over 45 countries including the United States, United Kingdom, Australia, India, Germany and New Zealand. The secret to success for Hiab and Moffett has been to cater the needs of the industry in a way like no other equipment manufacturer could.
The enhanced efficiency coupled of these machines coupled with their sophisticated safety features has made them the most desirable product for material handling businesses across the United States. So much so, that there are over 60,000 Moffett forklifts in operation all across the US alone. They cater to every segment of the market which is why they dominate the market. This domination, in part, is because of the wide ranging product line Moffett has to offer which is made available by an ever-expanding network of retailers all over the world.
So let us take a look at the top 5 Moffett forklift models that cement Moffett domination in the modern material handling industry.
The Moffett M2 is specifically designed for urban distribution. Its light weight and single wheel drive makes it tremendously easy to navigate and operate which is why it is perfect for the narrow aisles of a warehouse and streets of a city. It weighs a mere 1500kg, almost less than half of mammoth rough terrain forklifts, and has a wide range of application areas.
It is particularly useful in moving, loading and unloading loads such as kegs, cans and bottles in the beverage industry, canned fruits and vegetables in the food industry, catering supplies, pet food supplies, flat packed furniture and insulation material.
The Moffett M4 is one of the most widely used Moffett forklift due to its industrial applications. It is heavier than the Moffett M2, yet not without good reason. Its 2000kg to 2500kg weight allows it to do some heavy lifting. That is why it is most commonly used in industries such as recycling, industrial gas, LPG Gas, industrial chemicals, agriculture and moving housing parts such as windows and doors.
The Moffett M5 is perhaps the most famous Moffett in use today. There are in fact four models of the Moffett M5 itself, ranging from Moffett M5 20.3 and 20.4 to Moffett M5 25.3 and 25.4. The model numbers refer to the weight and the lifting capacity of the forklifts.
Retailers all over the US, such as Bobby Park Truck and Equipment, keep the Moffett M5 on hand at all times due to constant demand from industries such as building materials (timber, brick, plasterboard), animal feed, agriculture, roofing, scaffolding and emergency services.
The Moffett M8 is among the rough terrain models introduced by Moffett. The distinguishing feature regarding Moffett M8 (along with all rough terrain models) is its exceptional ability to provide stability over uneven terrain such as rocks, mud and marsh.
The forklift is built with a three wheel drive system and is easy to navigate even for a rough terrain model. Though its main areas of operation are the same as the Moffett M5, yet it can deliver and move material over turf that the Moffett M5 cannot.
Another one of the rough terrain models, the Moffett M9 is one of the heaviest and most durable Moffett forklift in production today. With an astounding weight of 2700kg and a three wheel drive system, the Moffett M9 can navigate the harshest terrains with ease. Yet despite the toughness of the Moffett M9, it has lost none of its functionality or safety features. It still offers all safety features that are required and necessary to maintain OSHA approved safety standards.
This piece of Moffett equipment is especially popular in the poultry industry owing to the fact that it can handle goods more safely and is capable of faster loading and unloading. As such, it is well suited to handle the delicate material in the poultry industry.
Construction Factoring: How Invoice Factoring Works
Cash flow is tight in construction. Payments come slowly, and that makes it hard to sustain a business – not as grow it. To combat this dilemma, there are several legal tools available, such as prompt payment laws, mechanics lien laws, and retainage laws, to mention a few. There are several business-oriented tools available, too. One tool is construction invoice factoring. Factoring is an intimidating topic, but at its core, it couldn’t be simpler.
What is Construction Factoring?
Construction factoring allows a subcontractor to borrow against their receivables. Factoring is a procedure by which businesses (in construction – typically subcontractors) obtain cash advances for his or her invoices. When factoring a building invoice, a building company will assign its invoice to the factoring company. In exchange, the factoring company provides the construction company cash on the spot.
How do you Factor Construction Invoices?
First, construction invoice factoring requires a party providing work will follow a factoring construction company to factor their invoices. Typically, a factoring company will agree to pay for out 70-80% of the value of the invoice to the subcontractor before payment could have otherwise been received. Then, the bill becomes the factoring company’s burden to collect. Once that factoring company is taken care of the subcontractor’s work, the factoring company will probably pay the subcontractor that remaining 20-30% without the factoring company’s fee.
Types of Construction Factoring
Generally, there are two primary approaches to factor construction invoices – spot factoring and contract factoring.
Spot factoring refers to a “one-off” situation. When spot factoring, building business is factoring a specific invoice to float the cash they need right then. Spot factoring might create a sense where the company generally doesn’t have a lot of cash flow problems factoring construction, but a specific event or situation job causes a hiccup with financials. Spot factoring construction invoices are commonly higher priced than contract factoring, and this is designed to get a company out of a bind.
Through contract factoring, cash is likely to be provided in exchange for every single progress payment, much in precisely the same way as spot factoring (but on a bigger scale). Generally, the rate that the factoring company charges should go down when a larger number of invoices have been in play. When utilized for your life of the contract, factoring construction invoices can assure steady cash flow for the duration of the job. Each time an invoice for a progress payment goes out, the construction company can obtain practical most of the cash at an earlier date.
Why Do Construction Companies Factor Their Invoices?
Construction payments come slowly. By factoring invoices, construction companies can obtain compensation for some of their invoice 20, 30, even 40 days sooner than they’d otherwise. Plus, so long as a subcontractor’s factoring company gets paid completely, the subcontractor is only going to lose a comparatively small percentage of the invoice when it’s all said and done.
Let’s look at some of the specific reasons that make construction factoring worthwhile for a few construction businesses.