Fleet Logistics has been appointed by Stanley Black & Decker, a global provider of hand and power tools and mechanical access and electronic security solutions, to improve efficiency of its fleet of 4,800 vehicles across Europe.

The U.S.-headquartered company now employs more than 45,000 staff worldwide with a global turnover of more than $10 billion. It operates a worldwide fleet of some 8,000 vehicles, with the European fleet spread across 21 different countries, and funded by a mixture of operational leasing and outright purchase.

Fleet Logistics has been appointed to increase transparency and improve fleet reporting via the implementation of its global reporting platform, Fleet.global, as well as introducing greater technical fleet knowhow and expertise through a fully outsourced fleet management service in a number of key countries, according to the fleet management company.

At the same time, Fleet Logistics said it will be looking to reduce Stanley Black & Decker’s fleet acquisition costs across Europe by the introduction of its acclaimed multi-bidding solution, which selects and manages a panel of competing leasing companies to find the best possible prices for the fleet client.

Used successfully in this way, multi-bidding has been proven to reduce overall acquisition costs by 8-10 percent by only selecting the lowest prices from the preferred leasing suppliers for each new car added to the fleet.

The fully outsourced fleet management service that Fleet Logistics is providing will also include full supply chain management to reduce and control the total cost of ownership (TCO) of Stanley Black & Decker’s European fleet, while creating complete transparency across its total fleet inventory, according to Fleet Logistics.

While fleet reporting is being introduced across all divisions of the Stanley Black & Decker’s European fleet, outsourced fleet management is being implemented in an initial wave of selected major countries.