Automated Storage/Retrieval Systems (AS/RS) are computer-controlled material handling systems that can automatically store and retrieve loads with high throughput. In this work, we estimate important design parameters for a newly designed storage/retrieval (SGP-AS/RS) machine based on the specific input details to come up with an optimized design solution. The new system is based on cable- driven parallel manipulator (or wire robot) technology that is similar to a parallel Stewart-Gough platform architecture. For the reliability of such a system, a Failure Mode Effect Analysis (FMEA) is carried out to find out how much reliable is this machine as a whole based on the of DIN's EN 60812 standards. This International Standard describes methods for FMEA and helps not only to optimize the machine, but also to achieve a disturbance free operation.