Fleet Management – 4 Ways to Reduce Operating Costs

July 5, 2021 in Uncategorized

Fleet managers know that it can be hard to keep track of the costs of running a fleet and need to pay attention to the day to day operating costs of the maintenance of their fleet. Using fleet management tools will help them spend less money in the future and stay within budget.

Optimise Maintenance Schedules

Maintaining a large fleet can cost a lot! The cost of maintenance can sometimes feel like you're just spending money time and time again. But not putting in place an optimised maintenance system will cost your company a lot more. If you don't maintain your vehicles correctly and up to date they will break down when you least want them to, and the damage and lost profit can far outweigh if you just serviced them on time. Through a preventive maintenance program, you can set optimal intervals for regular services, which will give you a chance to adjust your cars' health and catch potential expensive issues before they arise.

A good fleet management software will let you add maintenance schedules for each vehicle type. You can also get messages about when it is time to service your vehicles. This will assist you in knowing when your car needs repair. Some have other things, too, like integration with the shop where they go for repairs.  If you have preventive maintenance for your fleet, it will be easier to keep track of when something needs fixing. You can make a schedule for regular service that tells you how often the car will need fixing.

Make Saving on Fuel Your Priority

Maintenance is the most expensive thing that many fleets spend money on. But, unfortunately, fuel is also an expense, and it can't be avoided. But there are ways to keep fuel costs down. First, fleet managers should know the fuel efficiency of each car. That way, they can make sure the cars are running right and not wasting fuel. Another way to save money on fuel is to know where you are spending your money. If you have a fuel card, it can show you how much you spend and for what. It is also necessary to record that information if someone steals the money from the card or there was a mistake.

Fleet management software can assist you to save money on your fuel. For example, you can see how much gas costs per mile and other information about your car when you use it. In addition, you don't have to worry about the drivers' receipts because the system is connected directly to them. A meaningful way to save money on fuel is to not idle your car for too long and drive carefully. That way, you will use less fuel. If you have a fleet of vehicles, you can use your GPS and telematics devices to track the car. If they idle for too long or take a long route, this can lose profit for your company. Try to be efficient with how you get your cars to their destinations so they can save more fuel over time.

Keep tabs on the Total Cost of Ownership (TCO)

Fleet managers need to pay attention to many factors, including maintenance and repairs, fuel economy, and more. These all contribute to a bottom-line figure called the total cost of ownership. Setting solid TCO thresholds helps you know when the car has gone past its financial benefit for you. Running a fleet is hard, and it can be challenging to know how much it costs. But you don't need to worry! There are many ways to find out the costs of running a fleet that can help you make decisions. One way is by using software that allows you to calculate your total cost per month with little or no manual entry.

Prioritise Driver and Vehicle Safety

If your drivers are in accidents, it will cost a lot of money. Your insurance rates will go up; you might have to pay for lawsuits and repair costs. You don't want that to happen. So make sure you do whatever you can to avoid accidents and car loss. You want to make certain people drive safely. You can do this by incentivising drivers so they maintain a good driving record. You can also set up cameras or other tools for distracted drivers. The best way is to prevent bad things from happening; first, not just look back at them after they happen.

GPS tracking devices help you know about the routes and DTC codes. They also show you how good a driver is on your fleet management software. For example, it can tell you when someone is driving too harshly or notify you if there are problems with your car.