How Fleet Management System Helps Maximise Asset Utilization

Fleet management systems have long placed a premium on tracking vehicle usage. Fleet asset use is even more crucial in this brand-new, rapidly evolving context. To keep your business operating smoothly and control costs, it might be helpful to see how cars are used and where there is an imbalance.

What is Asset Utilisation for Fleet Tracking Companies? 

The who, what, where, when, and how of your fleet are reflected in asset utilisation. You can answer the question "Is your fleet being used to its maximum potential?" by being aware of utilisation trends in your fleet. For adjusting vehicles to your changing business demands and confirming whether or not vehicles are being used efficiently, assessing fleet utilisation more regularly is helpful in situations like these where activities may be temporarily dialled back or even ramped up.

Fleet asset utilisation metrics' key performance indicators (KPIs) include:

• Days travelled

• Driving time

• Mileage

Without consulting timesheets or equipment logs, you can readily examine these vehicle statistics online from your telemetry system. 

Why Do Comprehensive Fleet Tracking Services Include Asset Use Tracking?

Business is rarely stagnant. Drivers rotate, some take their vehicles home, some don't, and delivery and customer routes fluctuate. Old equipment is phased out and replaced with new. Maybe more EVs are being added to the fleet. What effect will all these developments have on the use of vehicles? Fleets need to make sure that all vehicles are being utilised appropriately and by the right drivers when regulations and equipment change.

The following are a few benefits of reporting fleet utilisation:

• Manage vehicle downtime by rotating your fleet as needed.

• Examine how the environment is affecting travel length so you can change shifts accordingly.

• Determine which vehicles can be replaced with EVs.

• Before retiring a vehicle from service, be sure it has been utilised to the fullest extent possible.

Reports might show which cars are overused, little used, or idle for repairs or maintenance. Monitoring this activity will enable you to maintain a well-balanced fleet in terms of replacement cycling and will help you identify potential regions for vehicle redeployment. When renting a car during periods of high demand, it could be a better business option to hold onto continuously underused assets because it is highly expensive to tag, title, and insure them.

Fleet Management Reports Through TrackoBit That Help

Reports are a comprehensive way to get a view of your fleet and see what is going on. Through TrackoBit’s sensor reports and engine health reports along with driver reports, you can understand where your fleet stands. 

Status Reports

Real-time status data monitor each vehicle. These reports specify whether a car is moving, idle, or going too fast. Additionally, you may observe how frequently the ignition was on and off during a specific period of time. These conclusions can be used to evaluate driver behaviour and optimise fuel efficiency.

Travel Summary Reports

Do you wish to know the precise location of your car at any given time? Or would you prefer to view the path it took during the day? You may always go back and look at a vehicle's travel summary report. This is fantastic for insurance claims and driver behaviour analysis.

Sensor Reports 

Software that provides the data in an understandable fashion can be coupled with sensors like SOS alerts, cabin temperatures, and tyre pressure sensors. These sensors have several uses, like improving the cold-chain and decreasing downtime, to name a couple.

Fuel Consumption and Fill Report

Both the fuel consumption report and the gasoline fill report are made to offer you a complete picture of how much fuel your car requires. This data is quite useful for determining how fuel-efficiently your car and its drivers are operating.

Vehicle Log Report

You do not need to keep an offline log of the SIM and IMEI numbers for each vehicle when using the vehicle log report. This report is useful for automating the renewal of software subscriptions and verifying driver and vehicle information.

How Do Reports From Fleet Management Systems Help? 

The solution is straightforward: in a world where attention spans are getting shorter, these reports grab your attention and direct it in the proper direction. Your business gains from receiving thorough reports from fleet management systems in the following ways:

• You'll always be aware of where your cars are. This will be very useful in an emergency.

• You will be able to see everything that is happening with your vehicles, including how, where, and why.

• As all the information and reports are accessible on the preferred GPS monitoring programme, paperwork will decrease.

• Better fleet performance information will allow you to plan directly for your company's growth.

• When everything is bite-sized, you do not have to spend numerous hours attempting to make sense of complex data

What More Can You Do To Improve Asset Utilisation 

What comes next now that you are aware of your asset utilisation and any potential imbalances?

There are several actions you can take to make improvements depending on the findings. Here are a few suggestions:

• Have the drivers that are used the most instruct other drivers on how to make the most of their days.

• Rotate cars to help them live longer, or use them for different purposes.

• Define the appropriate and improper uses of vehicles.

• To manage mileage, realign the zones and the regulations.

• Adapt corporate procedures to better connect warehouses with customer service regions.

• Changing your route can also result in better mileage and time savings. Consider the vehicle's domicile and its routes, for example. Perhaps have drivers start on their alternate route before sending them on their regular route

Summing Up 

Sure, you can manage your fleet and its operations as much as you can. But what is the point if all the assets that you do install in your fleet are getting counter-productive because they are not managed well. The best vehicle tracking software is that which allows you have a good look into how your fleet is run at all times. 

If you’re looking forward to massively increasing profits in your fleet, TrackoBit is the right way to go!