Asset management can be tricky when it comes to fine-tuning your fleet of trucks. Transportation managers need to be vigilant, continuously analyzing and assessing the business model to stay on top of changes. They also need the right tools to inform their business decisions, fine-tune the mix of truck assets, minimize the overall cost to operations and drive profitability.
Using software to run what-if scenarios is a great way tobegin toachieve better asset management. Once you understand the resources required–based on average or even forecasted volume–you can minimize your costs. Dedicated carriers use bidding and fleet optimization software. Final-mile fleets employ a diverse network of trucks and equipment, so finding the best asset mix required with lift gates, straight trucks, and tractor-trailers can prove challenging.
You can keep your fleet at the right size by using a scalable solution thatgives you the tools to grow. By logging and managing your data efficiently, you can draw on the data-related insights to make informed operational and asset management decisions.
It’s also a wise idea to set data-based benchmarks to gauge how your decisions impact your efficiency and cost savings:
- Establish mileage thresholds.
Reports help you analyze each vehicle’s frequency of use and identify excessive spare vehicles by assessing monthly mileage, engine hours, and active days.
- Consider fuel economy and repair costs.
By analyzing vehicle weight, engine size, and load capacity, you can get the right vehicle on the road and ensure better long-term asset management. By looking at average vehicle lifetime maintenance, you can minimize non-preventative maintenance expenses associated with older vehicles, right-size your fleet, and cycle vehicles within the optimal time frame.
- Use smarter routing and dispatching.
Real-time dispatching, route visibility, and asset tracking are great ways to improve fleet optimization. Completing more stops with fewer vehicles lets, you reduce your fleet size.
Explain asset management transitions to your drivers
Lastly, it’s a good practice to explain any transitions to your drivers, involving them early in the planning and decision-making process to ensure buy-in.
Fine-tuning a fleet for better asset management requires a proactive approach. Transportation managers need to keep an eye on data trends within day-to-day operations and monitor vehicle use, maintenance, and route efficiencies.