Triad Isotopes, a nationwide radiopharmaceutical company serving the nuclear medicine and molecular imaging industries, reports that the company will save an estimated $0.5 to $1 million as a direct result of implementing the FleetLocate Fleet Tracking and Business Intelligence Solution.
Triad partnered with Spireon in early 2012 to deploy the FleetLocate Enterprise solution on 450 vehicles used to deliver radiopharmaceuticals from the company’s pharmacies to hospitals, clinics and nuclear pharmacy facilities located across the country. The company came to Spireon looking to increase visibility of its vehicles and drivers.
“Our radiopharmaceutical products are time-sensitive,” explains Kris Peterinelli, Triad’s Director of Fleet and Pharmacy Logistics. “We have a small window of less than six hours to deliver our products before they begin to lose effectiveness. So it’s critical to our bottom line that we make our deliveries on time, while also maximizing route efficiencies and the productivity of our drivers. The challenge was that we had no way of measuring just how much time and money we could recapture by rethinking fleet productivity.”
To increase productivity, Triad had typically added more vehicles to their fleet, accruing even more costs. “We began to ask ourselves, how can we do a better job at tracking our vehicles and increasing performance and utilization of our fleet,” adds Peterinelli.
This challenge led them to Spireon. Triad was initially impressed by the FleetLocate intuitive graphic user interface that gave them easy-to-understand, instant views of business intelligence they never had access to before. But it was the additional value-added features and benefits that finally sold them on the product.
“We requested a custom routing report, and before we knew it, the Spireon team had designed one for us,” says Peterinelli. “This report has proved invaluable for our internal operations, and we will be soon sending it to our customers once a month so they can see what and when deliveries have been made. This will be a great customer satisfaction tool for us.”
Peterinilli also points to the excellent service the company has received, particularly during the installation process. “Chris Plosky, FleetLocate’s Manager of Client Services, worked side-by-side with us, including after hours and on weekends, to get this system up and running,” he says. “If we didn’t know any better, we would think we’re their only customer.”
In the six short months since installing FleetLocate, Triad has dramatically increased their operational efficiencies, productivity and fleet utilization. The company has since been able to reduce their fleet by 14 vehicles, generating a savings of approximately $8500 per vehicle eliminated. Triad expects they will be able to remove an additional 17 vehicles by the end of 2012.
The company has also seen a decrease in wasted driver time, and expects to leverage FleetLocate to reduce driver speeding as well as fuel costs. Combined, these improvements translate into upwards of $1 million in estimated savings for Triad.
“Triad is a perfect example of an enterprise realizing business advantages of optimizing their fleet,” says Steve Blair, Vice President and General Manager of FleetLocate’s Fleet Services. “With the increased efficiencies, productivity and utilization they’ve seen and will continue to see, the company stands to generate a rapid return on their investment. Triad presents an excellent model of success for other enterprises with fleets looking to drive their bottom line.”