One of the main byproducts of record fuel prices? Fleet managers are paying attention to fuel expenditures more intensely than ever. Fuel and depreciation are a fleet’s two largest expenses—but only fuel offers the opportunity for significant cost savings with some simple changes in policy and better analytics.
The lowest hanging fruit? Maintaining appropriate tire pressure can cut up to 25 percent of a truck’s annual fuel bill, according to Work Truck Online. That’s more than $10,000 in annual savings per truck. A geolocating fleet management platform like GPS Trackit gives managers the ability to not only remotely monitor a truck’s “vital signs,” but also proactively schedule maintenance that keeps things like tire pressures within spec.
Another benefit of having a sophisticated fleet management platform? Building more efficient truck routes. When drivers can keep speed more constant, reduce the number of stops, and cut idle time, the cost per mile goes down. The ability to sort route, driver, and truck data lets fleet managers allocate their assets more effectively.
Driver training and reward programs also have an instant impact on the bottom line. According to the EPA, aggressive driving lowers fuel economy by 15 to 30 percent. Installing a fleet monitoring system that regulates driver behavior—and rewards drivers for fuel economy and accident-free miles—not only reduces fuel consumption but also attracts higher-quality drivers.
One of the strengths of geolocating systems is the ability to integrate real-time information. Map overlays can direct drivers to preferred lower-cost fuel vendors and suggest routes that avoid traffic. And according to Automotive Fleet, they can even be used to set up healthy competition among drivers to see who can score the most efficient run. The winners earn prizes, and the fleet-wide effort brings down costs.
To learn more about how GPS Trackit can help you cut fuel costs, click here to schedule a free demonstration with one of our fleet experts.