Fleet Management Metrics

This article looks at a list of key indicators to track in the fleet business. Proper monitoring of these parameters will help avoid extra spendings and take the business to a new technological level.

Importance of fleet management tracking

Fleet performance tracking software plays a very important role in the transport industry. Companies that operate a fleet of vehicles need quality tracking solutions. The systems help companies track their fleets. Also, it measures key metrics that affect production management efficiency. Such systems help track performance metrics. Each business has different fleet metrics that are important to track. That is why it is important to find an individual approach and a special solution.

Preventive maintenance

Preventive maintenance is essential to ensure the continued operation of your fleet. With the right maintenance strategy, your fleet will serve you for years to come. It will also save you time and money. With a preventive maintenance strategy, you can check the status of services. So you can be sure that the service will be completed on time. Keeping track of critical maintenance metrics will save you time and money. Now there are modern AI technologies that help monitor the condition of the car and warn in advance about possible malfunctions.

Fuel costs

Data Source: US Energy Information Administration (Accessed in April 2021)

Fuel consumption monitoring is one of the most important fleet metrics. With its help, you can find out about the condition of the vehicle and the work of the drivers. The data and the analysis performed will enable you to make corrections to fuel consumption. In recent years, the issue of fuel consumption has become more relevant than ever, as fuel prices rise. Nobody wants to overpay, especially when the fuel price rises. Therefore, programs that track consumption and driving habits can save companies a lot of money. Besides, by using GPS data, fleet management software can build more optimized ways from point A to point B. It also leads to saving a lot of money. 

Tracking drivers

GPS Fleet Tracking (Image Source: © Alphaspirit | Megapixl.com

Few consider this indicator so important. However, it does help you track the quality of your drivers. Tracking driver performance and performance information helps keep workers safe. Assigning drivers who are most suitable in terms of parameters for a task is one of the possibilities of such metrics. You can track the actions and movements of drivers in real-time.

Security tracking

Obviously, safety metrics are practically the most critical. Safety is a concern for every fleet owner. It is important to keep your workforce safe. Fleet monitoring software helps to receive information about the location of drivers in real-time. In addition, this special software makes it possible to track the aggressiveness of driving. This helps prevent accidents and avoid high fines. Security tracking is a critical parameter that must be monitored continuously.

Use of assets

Large investments are required to create a naval business. This is far from the easiest business to start. To benefit from it, you need to track valuable assets. This is important for several reasons.

1. it increases the return on investment;
2. it prolongs the life value of the product

Controlling valuable assets is essential in order to extract the most value for as long as possible. Effective fleet maintenance is an important issue for all company managers. To minimize costs and increase profits, you need to develop an efficient service strategy. It is important to understand how many hours cars are in operation and how much it takes to service them. Tracking asset usage is a step towards developing a strategy to minimize costs. Moreover, it helps to enhance operational efficiency.

Work time tracking

HOS is a characteristic that shows the performance of drivers. This is the time that the driver can be driving. Namely, effectively drive a vehicle. Why is this such an important indicator? If a company violates the HOS, it is a violation of the law, as HOS is based on safety measures and accident prevention. To avoid causing accidents on the road, the driver must be attentive and not feel tired. That is why there is a certain number of hours a day when he can work. Fleet managers must strictly monitor this metric and prevent violations. Drivers are strictly prohibited from driving after the expiration of the HOS. Compliance with these measures contributes to the safety of employees and the preservation of human lives.

Transport replacement

An important metric to track is the vehicle's suitability for use. The fleet manager must be aware of when the vehicle needs to be replaced. After all, if you skip this moment, then the operating costs will be significantly higher. And the cost for which a car can be sold decreases over time. Accordingly, the company loses money. If this is only one unit in the fleet, then it is possible that the losses are insignificant, but what if there are several such cars. According to akveo.com, it is significant to control the parameters of the technical condition. And being aware of the suitability of the car for an operation will help to make a decision on a replacement. Managers should monitor the operating parameters correctly. Then they can receive data on the upcoming replacement time.

Inventory stock

Always keep track of the availability of the necessary inventory in the warehouse. If necessary, you can quickly get the required inventory from the warehouse. However, its absence will entail downtime and heavy losses. The best tracking method is an online inventory database. The manager who monitors the vehicle fleet metrics must be aware of the inventory status.

Fleet cost

Managers often forget to control such an important metric as the cost of operating a fleet. This is important because, as a result, this is the only way you can determine profit. It is necessary to clearly understand what the costs are and track them. This kind of control at the enterprise helps to detect when and where unnecessary expenses appear. With such a competent approach, you can avoid them and get higher profits.

Final thoughts

Today, logistics and supply chain management is one of the fastest-growing areas. Process automation is increasingly being introduced into all processes in enterprises. Control of key enterprise performance metrics can be done using the right software. These assessments provide managers with data on the performance of the enterprise. Analytics allows you to make conclusions and take measures so as not to incur high costs. The more efficiently an enterprise works, the more ahead it is from competitors. The manager will only work efficiently having user-friendly and powerful dashboards. The manager's job of tracking fleet management metrics is an indispensable task for the entire enterprise. The use of such software is critical to the prosperity of the enterprise.

Author Bio

David Patterson developed an interest in technology, software, and programming while he was very young. Witnessing the dawn of the internet, computers, and smartphones created a unique fascination for the industry and tech. Today, he has accomplished his dream of becoming a programmer. He now wishes to help others access the knowledge and tools they need to do the same. That is the foundation for the Ordb.org magazine.