Maximizing the Potential of Your Replacement Cycle
Vehicle replacement cycles have been a long-standing part of fleet management, and typically serve as a key pillar of the overall fleet strategy for most organizations. The traditional model has fleet professionals replacing their vehicles based on a standard age and mileage intervals, but that is not always the best practice for every fleet, especially when it comes to work trucks that face extra wear and tear through the daily demands of the job.
Fleets can experience a 12 percent annual fluctuation in maintenance expenses when they only focus on age and mileage. Think about the work that your vocational vehicles every day and ask yourself: Is your replacement cycle adding actual value to your business?
ARI’s Department Head of Business Intelligence & Analytics Mike Bryan talked with Work Truck about taking a holistic approach when it comes to vocational truck replacement cycling. In the article, Mike shared how breaking from the traditional model of age and mileage replacement can lead to bigger savings in the long run. He said that everything from operating expense and productivity to capital investments in your business can take your fleet on a different path with better results.
Mike also pointed out that better utilized vehicles could also lead to a reduction in downtime, which leads to healthier operating expenses for the whole fleet. Mike stressed that the overall needs of your business are an important consideration when reviewing your vocational truck replacement strategy.
“Identify your businesses goals and what your business may look like short- and long-term,” he said. Mike told Work Truck readers to consider how your business will grow or operate in the future when you set out to build a fleet that will last.
A holistic approach to your fleet replacement strategy can lead to a reduction in maintenance expenses over time as well as a more reliable fleet. Does your replacement cycle need a review? Learn more about how to turn your replacement cycle into a source of revenue with our Steps to Success infographic, or watch our ARI executives discuss the keys to management a complex supply chain.