MEASURING FLEET PERFORMANCE EFFECTIVELY TO ENSURE A SUCCESSFUL FLEET
When it comes to measuring fleet performance, utilizing the data you have available to you on your drivers and assets will ultimately decide the success of your fleet. The challenging aspect of this is determining which data to track closely and prioritize what needs attention. To start, you’re going to want to look at the key metrics of your fleet. This includes analyzing your maintenance data, cost metrics and your driver and asset data.
MEASURING FLEET PERFORMANCE – COST ANALYSIS Let’s start with the number one expense for fleets that will never change – fuel. Not only the physical cost of fuel but also the time it takes to track fuel consumption across your fleet. Measuring fleet performance means measuring every aspect of a process for cost AND efficiency – time is money. If you are still going the route of manually tracking your fuel consumption, you’re spending more time documenting the consumption and chasing down drivers who may have already lost the receipts. Having fleet management software in place will give you an accurate, real-time idea of your fuel economy. This is ideal when measuring fleet performance so you can adjust and pivot before it’s too late. You can also integrate fuel cards with your fleet management software to download transactions.
There are so many different KPIs to focus on when measuring fleet performance. Another important KPI is your assets, parts, and inventory. It’s expensive running your own fleet which makes it crucial to get the most out of what you have. You can track usage of your assets to help keep you on time with preventative maintenance and keep a sustainable fleet size. Over time, the data you uncover may show you have vehicles that can be better utilized in your fleet or even sold for a profit. You can use this data to find that sweet spot in your fleet that helps avoid unnecessary expenses.
Parts and inventory generally take up a third of your overall maintenance costs, which makes controlling your inventory levels crucial to fleet performance. Having the tools on hand that will ensure your fleet is effective and minimizing vehicle downtime is important to keeping your costs manageable. Regularly review your order history and inventory tracking data to ensure you’re making accurate decisions and spending your hard earned cash effectively.
When it comes to measuring fleet performance, utilizing the data you have available to you on your drivers and assets will ultimately decide the success of your fleet. The challenging aspect of this is determining which data to track closely and prioritize what needs attention. To start, you’re going to want to look at the key metrics of your fleet. This includes analyzing your maintenance data, cost metrics and your driver and asset data.
MAINTENANCE METRICS AND DATA When it comes to measuring fleet performance, you may notice maintenance costs are awfully high. This could be due to a variety of factors, one of them being not following your schedule preventative maintenance or being aware of the issues in time. A telematics device paired with your fleet management software can alert you in real time when there is an issue with one of your assets. This will allow you to start the maintenance process swiftly, effectively reducing any unnecessary repair costs. DVIRs are also a crucial component of ensuring your fleet remains compliant and you have an understanding of the health of your assets. Utilizing this data can help ensure you don’t miss common issues and is important when measuring fleet performance. Utilizing software, you have insights into common failures and issues – helping you identify patterns to avoid in the future.
At the end of the day, ensuring you have preventative maintenance practices in place will increase the lifespan of your assets and save you money. Work on implementing a schedule that will allow you to track and analyze the maintenance being done on your fleet. Measuring fleet performance includes ensuring your maintenance is being done effectively.
MEASURING FLEET PERFORMANCE OF DRIVERS AND ASSETS Ensuring your drivers are handling assets effectively and safely is crucial to a successful fleet. When measuring fleet performance, it’s important to look at your drivers and assets. Are there common patterns that could seem alarming? Utilizing telematics data allows you to have visibility into how your drivers use your assets and can identify improper driver behaviour. This goes a long way not only towards measuring fleet performance accurately, but ensuring the safety of your fleet. Taking a proactive stance on fleet safety ensures the well-being of your drivers and assets.
Productivity of your drivers is essential to a successful fleet. You need to have peace of mind that your assets are in safe hands and being transported effectively. Assigning vehicles to drivers utilizing fleet management software will provide you the insights you need to track and manage your drivers assignments. This will help keep them accountable to any additional expenses related to their lack of productivity.
It’s important to remember when measuring fleet performance, you need to have an overall scope of your fleet in order to accurately make a decision on data. Without having a birds eye view, your blind in certain areas which can cause you unnecessary expenses later on. When analyzing your data, consider real-time and historic data to help identify patterns that may increase the overall success of your fleet. Remember, the more data you can gather on your fleet the more effective you will be in measuring fleet performance.