Tips for Optimizing Management of Fleet Equipment

4 Tips of Fleet Equipment for Optimizing Management

Fleet Equipment

When your organization has a range of equipment on site, it takes knowledge and experience to effectively manage everything. The good news is there are a few ways to make sure you are optimizing your process to save time and money.

1. Use the Right Equipment Tracking Solution

No matter the size or type of your fleet, it’s never easy to manage so many vehicles. When you have multiple pieces, it’s important to classify them to help you keep them organized. This might include trucks, vans, cars, and machinery. It’s equally important to choose the right system. One of the benefits of choosing a good equipment tracking solution is that it can help you get the most out of your equipment. You can use a GPS equipment tracking solution that offers insights and remote access.

2. Maintaining Your Fleet

Keeping the vehicles and equipment in good working order is a good way to visually communicate your company values and it ensures you continue to reduce costs. Depending on the size of your organization, you might have anywhere from a few pieces of equipment to several hundred. But no matter how many you have; you need to make sure you are doing regular maintenance.

This ensures you are extending the life of each assed for as long as possible. Use your fleet tracking software to keep a regular history of any repairs you have done. This lets you ensure you have not forgotten to take care of regular repairs that could develop into a bigger problem later. Plus, if you want to resell the vehicle or equipment later on, you will have a reliable record that can ensure quality and can get you a better price on the items.

3. Using Technology to Make the Fleet Profitable

It costs money to maintain all the equipment, so you need a way of ensuring profits. Create a budget to control costs and figure out how much income your business needs to make to break even. Then calculate a profit margin into that so you are also bringing in additional income.

There are types of software that allow you to list out expenses such as maintenance, rent, insurance, investments, and other costs. Balancing out expenses and income is the only way you can optimize fleet management. Understanding outgoing expenses lets you negotiate with vendors and suppliers. On the other hand, understanding where your income is coming from allows you to determine the best way to increase it.

4. Controlling Costs

One of the top costs of operating a fleet is the cost of fuel. Many fleet managers have found that this expense makes up the biggest cost in their budgets. The good news is you can control this to some extend by issuing fuel cards to drivers. You can then look at each driver’s spending on fuel to see if some are spending significantly more than others. Offer training on best practices to reduce fuel usage. This might include not idling for longer than necessary. You can track these expenses in your fleet management software and look at any trends developing over time. 

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