A truck’s total cost of ownership (TCO) covers a specific range of expense variables, regardless of the make or model. The four lifecycle categories that influence TCO are fixed costs, operating expenses, incidental costs, and depreciation/resale value. A key factor that drives these lifecycle categories is a vehicle’s service life.
Corporate finance departments and fleet managers bring different perspectives to priorities such as vehicle acquisition, cost reduction measures, and maintenance and repair that can create obstacles such as "a significant lack of communication," according to a new survey from Fleet Advantage.
If you want to provide added value to your company, you need to view fleet as a business and not simply an aggregation of assets to be managed cost-effectively. The fastest way to improve your bottom line is to increase fleet utilization, which increases the productivity of each individual truck.
ARI and WEX, Inc. are celebrating their long-running relationship with co-branded fuel cards for fleet customers of the fleet management company, the payments solution provider announced. The companies have been in business together for 25 years.
Arrin Burruss was named fleet manager at NEXT Trucking in Carson, Calif.
Many view fleet management as being a desk job, but it is more than that. When trouble-shooting fleet problems, such as increased costs for a particular user group, it is important to identify the root cause, which often requires on-site visual inspection of fleet assets and how they are being utilized.
The fundamental requirements of your business necessitates minimum fleet equipment specifications that, as a result, pre-define the expense parameters from both a fixed and operating cost perspective. If you acquire vehicle assets that best fulfill your fleet application, then any supplemental cost reduction will only be based on incremental refinements The best way to achieve additional cost reduction is by modifying driver behavior.
By reviewing videos of its drivers while in the cab, this truck fleet has been able to correct high-risk driving occurrences such as hard braking and speeding — as well as eliminate culpability from false driving incident accusations.
Since 2013, year-over-year fuel prices have remained flat. With fuel being 60 percent of total operating costs, lower per-gallon prices have put downward pressure on total fleet costs.
For small business fleet owners, finding the right work truck can be a challenge. An innovative online solution is helping fleets find these vehicles at the touch of a virtual button.
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