Enhanced Optics to Optimize Your Cycling Strategy
For organizations throughout North America, there continues to be a significant emphasis on leveraging analytics to optimize business operations. But as a fleet manager, you need more than just hollow information. You need knowledge and insight that helps you better understand the “why” behind your fleet management challenges in order to develop a better “how” to overcome them. And while this certainly applies to all aspects of fleet, it is particularly important when you’re developing your vehicle replacement strategy.
When it comes to cycling your vehicles, you need to look beyond traditional metrics to ensure your strategy is based on a truly holistic view of your business and fleet assets. In a recent Business Fleet article, ARI’s Mike Bryan and Ed Powell highlighted why a vehicle’s utilization and productivity are key factors of the cycling equation but are often overlooked when assessing lifecycle costs.
In the article, Mike Bryan explained how ARI’s proprietary vehicle economic service life (VESL) methodology helps fleet operators optimize their cycling strategy. “We’re incorporating elements that we believe haven’t been addressed historically to help paint a clearer picture of the actual economic performance of an asset over time,” said Bryan. He discussed how this model helps fleet operators determine what optimal looks like and identifies what strategies can be employed to help move a fleet closer to that ideal state.
The article continues with Ed Powell offering insight about how this approach delivers a more holistic view of fleet performance and provides a distinct alternative to traditional models. “What a simple cost analysis typically doesn’t show you is that vehicle A experiences significant downtime and isn’t nearly as productive or efficient as vehicle B,” said Powell.
To read Understanding Economic Service Life for Better Fleet Cost Forecasting, please visit BusinessFleet.com. And be sure to check out our all-new interactive video experience at FleetIsAnInvestment.com to learn more about how your fleet strategy can help you solve the real-world challenges impacting your business.