Today’s demanding business environment needs fleet managers to deal with the supply chain from a unique and cost-effective standpoint. At its core, the fleet manager’s job is to boost productivity, while decreasing operational costs. Managing transport logistics is a huge responsibility, and your decisions will always have an impact on your business’s bottom line.
Fleet vehicles are the backbone of the economy of a nation, supporting a diverse array of day-to-day functions. Fleet vehicle maintenance plays a crucial role in a successful operation of a business. Data suggests that operating costs in fleets had increased since 2018 after remaining flat for five years, largely because of higher fuel prices and vehicle maintenance costs (Automotive Fleet). Therefore, coming up with an updated plan by leveraging telematics technology (e.g. a GPS tracker for cars) to reduce costs has become more necessary than ever.
Embracing the Power of Actionable Intelligence
Powerful forces in the market continue to shape the commercial and transport industry. The economic upheaval following the COVID-19 crisis made it even more difficult for fleet managers to keep pace with the change. However, a crisis can pave the way for a host of opportunities to approach things differently and drive change.
This is where, fleet management technologies can play a vital role in reducing maintenance costs, and helping fleet managers to reduce downtime. After all, your business is unlikely to benefit when your fleet vehicles are down and off-the-road.
By 2024, approximately 83% of all new on- and off-road vehicles will have telematics embedded (PTOLEMUS Consulting Group). Forward-looking fleet managers that are keen to extend vehicle life and improve operations across their fleets are already realizing and reaping the potential benefits of telematics.
Fleet vehicle telematics is an emerging trend in the connected car ecosystem that enables managers to diagnose faults before they become critical. A more proactive way to manage vehicle maintenance relies on the insights collected from vehicles. The automotive industry is undergoing a digital transformation, allowing fleet managers to minimize vehicle downtime with data-driven maintenance and insights.
Preventative Maintenance Through Telematics
Vehicle preventative maintenance with the help of fleet telematics devices can mean a world of difference. Most fleet managers, if not all, consider fleet telematics solutions a way to track vehicle location. However, the concept behind telematics technology goes much beyond monitoring vehicle locations. It provides fleet managers with more information and control over their vehicles. In fact, telematics devices do a phenomenal job by providing a massive amount of vehicle performance data, including but not limited to:
- Vehicle health and performance fault codes
- Battery health alerts
- Vehicle emissions score
- Vehicle health scoring
- Maintenance alerts
- Manufacturer recall alerts
Knowing what is going on with your vehicles in real-time means you can reduce downtime and get them back on the road faster when they break down. Ignoring a “check engine" warning light induced by a faulty oxygen sensor can worsen the performance of the catalytic converter, which is usually 6 times more expensive (Official Magazine of the Automotive Service Association) and can result in poor fuel economy.
Real-time GPS tracking devices with the help of telematics can provide you with insights related to faults with your vehicle ahead of time. Thus, you will be able to carry out proactive maintenance and prevent further breakdowns even before they take place. It has been estimated that businesses can save between 12% and 18% through preventative maintenance over reactive maintenance (Webinar Care).
Telematics: Enabling Fleet Management and Optimization
Using a telematics-based fleet maintenance plan can mean that you are better able to avoid the risks of sudden breakdowns. The lifespan of fleet vehicles depends on the maintenance and repairs being done on or ahead of time. Leveraging real-time GPS tracking technology to handle fleet maintenance enables you to schedule maintenance, create predictive & preventative maintenance programs, and encourage annual maintenance.
With rapid technology advancements, there are more opportunities to integrate telematics with vehicle maintenance can deliver greater efficiency, more accurate performance, and reduced costs, among others. Would you like to know how Vyncs can help you work out a plan to ensure better management? Contact us today to learn more.