How to structure this contract
- Split by equipment type. Conveyors, forklifts, overhead cranes, and racking each have their own cost driver.
- Index each type to its own series. Each equipment category maps to a distinct, real BLS series.
- Weight to the actual equipment mix. Adjust starting weights to the contract's real bill of materials.
- Flag proxy series explicitly. Name any series that is a general proxy, not equipment-specific.
Split by equipment type
A warehouse fit-out contract usually bundles several different kinds of equipment: conveyor systems, forklifts, overhead lifting equipment, and structural racking. Each has its own cost driver. Price each separately rather than blending them into one number.
| Equipment | Benchmark | Note |
|---|---|---|
| Conveyor and conveying systems | PCU333922333922 | |
| Forklifts and industrial trucks | PCU333924333924 (Industrial Truck, Tractor, Trailer, and Stacker Machinery Mfg) | |
| Overhead cranes and hoists | PCU333923333923 (Overhead Traveling Crane, Hoist, and Monorail System Mfg) | Same series used for port cranes in the maritime guide, a general lifting-equipment index, not warehouse-specific |
| Structural steel and racking | PCU331110331110 | |
| Automation and control systems | PCU334511334511 (proxy) | Closest available proxy, not a dedicated warehouse-automation index |
Conveyors are the item a fit-out contract most often escalates. They are fabricated largely from steel, so buyers often expect the conveyor price to follow the steel price.
Sources: PCU333922333922 (Conveyor and Conveying Equipment Manufacturing); BLS WPU101704.
Since 2017, this index has followed the hot rolled steel price index about 2 months later and moved about a third as far as it over a year.
Over the 12 months to Sep 2026, the hot rolled steel price index rose 15.0% and this index rose 3.7%.
A worked composite for a fit-out contract
| Component | Starting weight |
|---|---|
| Conveyor systems | 30% |
| Forklift fleet | 20% |
| Overhead cranes and hoists | 15% |
| Structural steel and racking | 25% |
| Automation and controls | 10% |
These are illustrative starting weights. Adjust to the contract's actual equipment mix before signing.
A worked example
Take a contract signed in September 2025 with $3,000,000 of conveyor scope, invoiced in September 2026.
| Base index, Sep 2025 | 328.421 |
| Current index, Sep 2026 (revisable) | 340.681 |
| Ratio, 340.681 ÷ 328.421 | 1.0373 |
| Amount at signing | $3,000,000 |
| Adjustment added to that amount | +$111,990 |
Live figures from the stored series, updated when the provider publishes. Sep 2026 can still be revised, so a clause should say whether the invoice uses the first published value or is trued up later.
A full fit-out clause repeats this for each component and weights the results. Each component's contribution is its weight times the change in its own series. With the starting weights above, a conveyor change contributes 30% of itself to the contract price change, and a steel change contributes 25% of itself. A single blended "warehouse equipment" index would not show which component actually drove the total.
The overhead crane index is a proxy, say so
PCU333923333923 covers overhead lifting equipment broadly, used across warehouses, factories, and shipyards. It is real and usable, but it is not built specifically for warehouse cranes. Naming that clearly in the contract, the same way the maritime guide does for port cranes, avoids a dispute later over whether the index actually matches the equipment bought.
The three equipment series also move by different amounts, so the choice changes the number.
Over the 12 months to Sep 2026, these series moved differently. On the same $3,000,000, the gap between the highest and lowest is $37,294.
| Series | What it covers | 12 months | On $3,000,000 |
|---|---|---|---|
PCU333922333922 | Conveyor and Conveying Equipment Manufacturing | +3.7% | +$111,990 |
PCU333924333924 | Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing | +4.1% | +$121,916 |
PCU333923333923 | Overhead Traveling Crane, Hoist, and Monorail System Manufacturing | +2.8% | +$84,622 |
Live index data
- US PPI: Conveyor and Conveying Equipment Manufacturing: current value, year-over-year change, and a free calculator
- US PPI: Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing: current value, year-over-year change, and a free calculator
- US PPI: Overhead Traveling Crane, Hoist, and Monorail System Manufacturing: current value, year-over-year change, and a free calculator