Fleet managers face a variety of challenges, from managing fuel price volatility to maintaining regulatory compliance and driver safety, but the most difficult task by far is identifying ways to cut the right costs. With expenses eating away at budgets, how are savvy companies working to reduce spend in these areas and maximize the bottom line?
Tired of watching your costs increase year after year?
View these resources to find out how to reduce costs in all the key categories.
Find Out Where Successful Fleets Are Finding Savings
Watch this on-demand webinar to hear a cost reduction expert identify practical tips for saving on some of the most expensive areas of fleet management, including:
- And more
Don’t miss this important insight into where savings can be found in your fleet.
Getting Paid Faster
Cash is king, as the old saying goes, and getting paid faster is the goal of nearly every company. New technologies can help your company accomplish this goal and get your payments in faster than ever before.
Join us for this leading-edge webinar that will address topics including:
- Improving record keeping with distributed ledgers to improve reconciliation
- How blockchain ledgers can also improve financial liquidity
- Establishing trusted relationships throughout the supply chain
Cost of Ownership: Leasing vs. Buying
Fleet ownership has a number of benefits, but with those benefits come a number of associated costs, including maintenance, repairs and eventually replacement. Likewise, leasing provides a number of advantages for fleets as well, particularly for companies who don’t want to be exposed to the volatility associated with upswings and downswings in company financials. While both options have their pros and cons, how can companies make the decision that is best for them? To address the pros and cons of buying versus leasing, FreightWaves and Spireon are partnering for an hour-long webinar featuring Dean Croke, Chief Insights Officer for FreightWaves, and Brent Russell, Executive Vice President, Contract Leasing Corp. During the presentation, the speakers will address:
- Hidden costs associated with leasing and purchasing vehicles
- Immediate and long-term benefits of both options
- Results from a recent survey on leasing vs. buying
- Questions to ask to make the best decision for your fleet
Brent Russell, Executive Vice President, Contract Leasing Corp. and Dean Croke, Chief Insights Officer
Time Is Money: Managing Detention More Profitably
Detention is one of the largest concerns facing drivers and fleets today, costing both time and money. In fact, DAT research revealed that 63 percent of drivers spend more than three hours waiting for their trucks to be loaded or unloaded on average, often leading to them missing subsequent loads as a result. As the adage goes, if the wheels aren’t turning, drivers aren’t earning. Whether due to inefficiency or excess supply, detention has very real consequences for drivers and companies alike. To explore how companies can work to reduce the effects of detention on their drivers and the bottom line, Spireon and FreightWaves are partnering to host a one-hour webinar, where we will hear key insights from three leading experts, including:
- SONAR data and charts on what is happening in the market
- How leading companies are managing detention billing
- Real-world examples of how companies can work to minimize the effects of detention.
- And more
How to Lower Fuel Costs For Your Fleet
1. REDUCING VEHICLE SIZE AND WEIGHT
2. USE INNOVATIVE VEHICLE TECHNOLOGIES: HYBRIDS, CLEANER DIESEL ENGINES, GPS FLEET MANAGEMENT SOLUTIONS
3. MODIFY DRIVER BEHAVIOR: REDUCE HARD ACCELERATION, IDLING, INCONSISTENT SPEEDS, EXCESS USE OF AIR CONDITIONING AND HARD BRAKING
How To Find Savings In Your Fleet With GPS
Your fleet is one of your company’s largest cost centers. But within that fleet are a myriad of opportunities for cost savings. To find those opportunities and act on them, you’ll need increased visibility and access to better business intelligence. The right telematics system can connect you to the data you need to drive operational efficiencies and reduce costs. Fuel Costs = 30% of Fleet Operating Expenses
What Does It Cost
to Run A Fleet?
1. TIRES – Tire prices are rising
2. DRIVER WAGES – Driver shortage has led average pay to increase 15% since 2013.
3. FUEL COSTS – Fuel costs are highly volatile and rising.
4. ASSET LEASE OR PURCHASES – Truck and trailer payments rose by about 10% in 2016 alone.
5. REPAIR & MAINTENANCE – Maintenance costs rose 38% from 2008-2016 and are still rising.
6. DRIVER BENEFITS – Costs associated with benefits rose 15%.
7. TRUCK INSURANCE PREMIUMS – Insurance costs rose 29% in 2016 alone.
See How a Plumbing Service Saved $1,500/Month by Optimizing Driver Efficiency with FleetLocateDOWNLOAD NOW
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Learn how a Southern California plumbing business with a mixed fleet of box vans, Econolines and pickup trucks was able to save $1,500 per month by reducing fuel bills, eliminating unnecessary trips, reducing speeding and hard-braking, and improving driver routing
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Work Smart. Make Money.
Arrive Logistics and FMSCA & DOT compliance expert, John Seidl of Reliance Partners, provide actionable tips on how you can maximize carrier efficiencies and increase carrier profit. The goal is to increase revenue while controlling four major expenses: Insurance, payroll, fuel and vehicle maintenance.
Fleet Management: How to Reduce Your Cost Per Mile/Hour
How to marry fleet maintenance best practices and the capabilities of Infor EAM to reduce fleets cost per mile/hour. Proper fleet lifecycle management combined with integrations to your fuel management system, SCADA and financials improves overall visibility, efficiency, lowers cost of operation and positively impacts the bottom line. Whether you have 1 or 100,000 fleet vehicles, this on demand webinar will be beneficial for your organization’s balance sheet.
Reducing Costs as a Shipper of Choice
This webinar offers shippers information on how to reduce freight costs by becoming a preferred shipper. Subject matter expert Brian Reed has spent the last 18 years serving freight providers and shippers around the globe by developing innovative and modern solutions to supply chain challenges. See his data-driven insights here.
How To Position Your Company For A Successful Insurance Relationship
Learn how to:
- Create a culture of safety throughout your entire organization
- Establish driver vetting and training techniques that are thorough and ongoing
- Use proven technology (video cameras, telematics, etc.) not as a luxury, but as a necessity
- Foster transparency in all aspects of the insurer/passenger transportation company relationship, including timely claims reporting, notification of operational and/or driver changes, and accepting your insurer as a true loss control partner and regulatory compliance resource.
Sources for Infographic:
40 Ways to Reduce Truck Fleet Costs
Includes key topics:
- How to Reduce Tire Expenses
- Impact of Driver Behavior on Fleet Costs
- Properly Spec’ing Work Trucks for Cost Reduction
- Ensure Proper Preventive Maintenance
- Changes to Fleet Management Methods
- Impact of Driver Safety & Safety Technology
Cost-Reduction Strategies that Go Beyond the Asset
If you want to save “dollars” instead of “pennies,” the best way to achieve additional cost reduction is by modifying driver behavior. The way employees drive company trucks and vans can improve (or decrease) fuel economy; extend (or decrease) the life of wear items, such as tires, brakes, etc.; decrease (or increase) preventable accidents; and maintain (or degrade) the overall condition of a vehicle, which, ultimately, has a direct influence on resale value. Learn more now.
4 Ways to Reduce Truck Fleet Costs
Finding ways to reduce truck fleet costs is part of every economical fleet management plan. Each reduction method has to be weighed with the overall value to your company. Some cost reductions may pay off in savings, and others might work against you — they can actually cost you money rather than save it. See these 4 methods, with multiple tips in each section, to learn more.
Using Performance-Based Incentives to Optimize the Cost-Effectiveness of Fleet Operations
Half of today’s fleet managers receive performance-based compensation incentives. For the other 50% of companies that do not incentivize their fleet managers with performance-based compensation, now is the time to start thinking outside of the box. Here’s how.
27 Ways to Reduce Fleet Costs
The best way to maximize profits is through a competent set of management strategies that can help you reduce fleet fuel costs and also take into account vehicle upkeep and fleet consolidation. The 27 steps in this article are among the most effective ways to reduce fleet costs.
Fleet Policy Is a Crucial Component of a Successful Cost-Control Strategy: 10 Suggestions
A common problem in fleet management is the fleet manager communicates policy to the drivers’ managers, but the word doesn’t get down to the individual drivers. How do you increase driver compliance with fleet policy? See these 10 suggestions.