Fleet Solutions For Rising Fuel Prices

 

Fleet Solutions For Rising Fuel Prices

Diesel and gas prices are rising steadily, according to the U.S. Energy Information Administration. The average price of diesel rose an extra cent this week and the average is 47.7 cents more than it was a year ago. Gasoline prices are echoing a similar tune having risen by 0.8 cents from last week and 20.7 cents higher than they were a year ago.

WHAT TO DO ABOUT HIGH FUEL COSTS

The trend of rising fuel prices will likely continue, with each subsequent year marking an ever-increasing price at the fuel pump due to socio-economic pressures beyond the control of the fleet businesses that require said fuel. So what then are fleet managers supposed to do in the face of perpetually shrinking margins and growing operating costs? One answer is to optimize. Finding where you’re fleet is leaking resources and plugging up those leaks results in boosting your bottom-line, improving your profitability, and ensuring the longevity of your organization as it moves into the future. But to optimize, you need data, gone are the days of operating off hunches or honor systems. The most successful fleets are closely monitored and controlled using actionable data and utilize creative solutions to solve common (and perhaps unseen) problems.

Telematics is the most reliable and consistent method of drawing imperative fleet data. Being able to track location, condition, and driving behaviors allows fleet managers to identify where money is lost and what needs to be done to improve efficiency. Titan GPS is at the forefront of the telematics industry and provides fleet managers with the technology and the reporting features necessary to completely optimize asset usage. We’ve recently passed the 1,000,000 data point milestone, tracking assets from equipment to vehicles in a variety of industries has proved an interesting and worthwhile venture. Here are a few of our most commonly used reports that transform raw data into actionable insights.

 

TOP 10 WORST IDLING VEHICLES

One of the most alarming trends we found, is that fleet vehicles, across all industries, spend on average roughly 33% of their engine time idling. That is a staggeringly high number, especially when compared to the consumer average, which is only 8 minutes per day. This is an issue that almost all fleet businesses should be addressing, simply because it is costly and unseen. Our “Top 10 Worst Idling Vehicles” report was built with this in mind. Identify the top 10 worst idlers in your fleet and set the idling target, even a small reduction in idling can represent significant fleet-wide fuel savings. Compare operators to their peers and track monthly progress to see who is below the acceptable idle target and who is above. Explore individual operators data and be as granular as you require to implement the changes that are necessary to operate an efficient and profitable company.

 

TOP 10 AGGRESSIVE DRIVERS

We’ve discussed aggressive driving before,┬ábut as a quick recap we can summarize aggressive driving as a mix of speeding, accelerating, and braking events done in excess. We’ve found through our primary data collection and supplementary research that the frequency at which drivers commit aggressive driving infractions depends on the industry they are in. For example, those in the commercial transportation industry are much more likely to speed than any other industry by a factor of 3. Which makes sense, if you’ve paid attention to the ongoing issues commercial truck drivers have to face with HOS and ELDs, there is a constant struggle to get as many miles in during an allowable driving window. While drivers who work in Specialty Services are much more likely to aggressively accelerate when compared to other industries by a factor of 2. The top 10 Aggressive Driving report can tell you exactly what percentage your fleet drives aggressively (past your customized threshold of tolerance), who the worst offenders are, and the types of aggressive driving events they are committing. This allows you to address specific issues that result in lost efficiencies and harm your bottom line.

 

TOP 10 UTILIZED

Closing up holes in fuel efficiency by solving issues related to idling and aggressive driving is an effective strategy to reduce costs. But another aspect of efficiency is; utilization. Knowing how many kilometers your vehicles traveled, and comparing that to how many engine hours they’ve racked up is a good measure of who is getting work done and who is wasting precious time. Like our other reports, drivers are only measured against their peers so that employees involved can see the threshold for excellence. Peer comparison brings about a sense of constructive internal competition that fosters optimization and builds morale. Many companies across all industries actively utilize reports such as the ones below to boost utilization. These reports also have the secondary benefit of improving transparency within an organization, which further builds morale.

These three reports are simply an introduction to what Titan GPS can do, we have a vast array of reporting options available that can unlock the insights your fleet needs to become more efficient, safer, and more profitable.

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