Technology Uncovers Hidden Fleet Costs
You wouldn’t have fleet vehicles if they didn’t bring in income or let you deliver service to your customers. But without proper management, running your fleet could be expensive and, therefore, detract from your business success.
Aside from the predictable costs like vehicle price, routine maintenance, and registrations and renewals, you need to search to find the preventable costs—such as unnecessary maintenance—and the hidden costs—like lost fuel economy—in order to run an efficient fleet.
ARI Director of Customer Information Systems Don Woods shares with the Contractor Supply audience four tips for avoiding hidden costs. He says the discovery starts with “fleet management software that tracks the actions of both vehicles and drivers.” Combining real-time data and measurements with data analytics and algorithms can help fleet managers see where costs are coming from and then address trends in order to avoid future costs.
Maintenance schedules, fuel management, vehicle idling and replacement cycling are four easily avoidable costs that Don presents solutions for in this article.