Performance Management for Fleets
Performance management for fleets is a measurement through which the effectiveness and efficiency of the fleet management strategy can be demonstrated. It is an index of performance that will help you to enhance the fleet’s overall productivity. Fleet productivity is the basic measure of work output. By creating a productivity score, you can objectively measure performance and thus identify successes and pinpoint areas for improvement. The ultimate goal of any performance management is to achieve fleet efficiency and reduce your fleet costs.
There are many ways to determine performance benchmarks. Key Performance Indicators (KPI) is a great way to measure and bridge the gap between where you are and where you actually want to be. Monitoring Key Performance Indicators (KPIs) refers to the tools and methods that fleet operators use to monitor performance metrics of the fleet. By measuring KPIs, various specific data are captured. The collected data are then analyzed and converted into useful metrics that can be measured and reported in easily understandable charts and dashboards. This can help determine if the performance level of the fleet indicates a level of improvement or if there is a need to optimize specific areas of the operation. KPIs offer insights into various aspects of a fleet’s operations. They can also be customized depending on needs and specific requirements.
Monitoring Maintenance Schedule
A good indicator of fleet performance is the data correlation between scheduled maintenance versus unscheduled maintenance routines. Scheduled maintenance is indicative of a proactive plan – where the fleet functions to a set routine of calculated disruptions where preventive and regular maintenance works are carried out during pre-scheduled downtimes, whereas unscheduled maintenance is indicative of reactive maintenance – a downtime that arises due to the need to perform an unavoidable repair work, thereby rendering the vehicle out of action. Unscheduled maintenance stops are indicative of breakdowns – unnecessary and unplanned downtimes that throw schedules into a tizzy. By tracking your fleet’s scheduled versus unscheduled maintenance, you can check how effective your preventive maintenance plans have been. If there is not much asynchrony between the two parameters, it means that your preventive maintenance plan is working. A preventive maintenance plan is a controlled and planned downtime that gives your fleet trouble-free extension of life and avoids unexpected breakdowns.
Service Costs
You can also measure the amount you spend per mile on maintenance and upkeep of the fleet. Lower the spend, higher is the performance of your fleet. After a period of time, all vehicles start losing out on efficiency and will require constant upkeep. By monitoring maintenance expenditures, you will know precisely when the asset starts non-performing and by prompt replacement, you can ensure that the overall efficiency of the fleet remains high and maintenance costs remain low.
Fuel Costs
Fuel fuels your fleet – and if the expenditure is too much, it can burn a hole into your profits! Fuel spends are a major expenditure incurred in fleet operation. By monitoring fuel spends you can understand whether your strategy is working or failing. Based on the data, you can tweak route optimization, vehicle allocation, driver behavior and even run a vehicle condition check to ensure the operational efficiency stays high.
Driver Safety Behavior
Safety on the road is a big parameter that defines how efficient and productive your fleet is. If the number of incidents on the road is zero and close to zero, it means that your fleet is a minimum-risk high-performing asset. By monitoring incident data, you can understand where things are going wrong, and based on the feedback work at solving issues such as correcting driver behavior, modifying driving habits, optimizing route and vehicle etc. Reducing incidents ensures that unnecessary downtimes are eliminated and the fleet continues operating at a high efficiency. It also avoids expenses incurred through traffic penalties, repairs, messy litigations and high insurance premiums.
Tangerine
Tangerine offers customizable Telematics solutions that enable you to track your fleet and monitor performance. Our innovative fleet management tools give you complete visibility and help increase the efficiency, safety and productivity of your fleet through actionable intelligence. With technology and data analytics, you can cut down on inefficiencies by identifying and resolving performance discrepancies quickly. You can review, track, intervene and improve your fleet operations.
With Tangerine’s fleet analytics dashboard, you can track your fleet remotely. Data such as vehicle’s live location, speed, distance traversed, driving duration, idle time, stops etc are tracked realtime. This gives you a complete record of daily KPIs like number of vehicles in operation, maintenance schedules/requirement of the vehicles, total distance covered by the vehicles, time taken, fuel consumed etc. Live tracking also helps you evaluate driver analytics. By examining driver behavior data, you can actuate resultant interventions and awareness initiatives, and cut down on expenses such as fuel costs, maintenance expenses and traffic violations. You can also prevent unscheduled downtimes.
Tangerine also helps you to attend to and solve vehicle issues using proactive maintenance schedules. This reduces the chances of unexpected breakdowns, by staying on top of regular and overall maintenance. With Tangerine’s AI capabilities, you can better predict component failure and Remaining Useful Like (RUL).
With Tangerine’s AI-Powered Fleet Analytics, you can make data-driven and analytics-based informed decisions that will allow you to increase the performance of your fleet and its overall efficiency by leveraging predictive insights. You can discover new opportunities to fine-tune your organization’s functional efficiency and performance, thereby improving productivity and profitability.
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