A fleet cost reduction program goes straight to the corporate bottom line. If a company operates at a 10% annual net profit margin, reducing annual fleet expenses by $100,000 is the equivalent of generating $1 million in sales. Although fleet managers manage hundreds of thousands to tens of millions of dollars in corporate assets, only half are incentivized to achieve targeted performance goals. I advocate incentivization should be a universal best practice extended to all fleet managers.
There exist hidden opportunities with full-service leasing that are typically overlooked. The attention to financial details can distract from more significant benefits to fleets and their customers
One of the easiest ways a fleet manager can reduce truck acquisition costs is not over-spec’ing for fleet needs. But, there are a few out-of-the-box ways of thinking to further reduce costs.
Senior management exerts intense pressure on fleet managers to control and/or reduce vehicle acquisition and operating expenses. To accomplish this, a fleet managers can pursue three different cost-control strategies — cost savings, cost deferral, or cost avoidance. In order to implement a successful cost-control strategy you need to institutionalize the mechanisms to curb money-wasting behaviors.
Fleet managers often must deal with a number of so-called “vehicle experts” within the company, sometimes including those who hold senior management positions. Here’s how to deal with the unrealistic ideas they propose.
It has been said that a fleet manager’s cost-saving focus should be on the two largest expense categories: depreciation and fuel. But once that has been done, where does a fleet manager look for additional cost reductions?
As part of the annual re-set to a new calendar year, we polled several leading fleet managers to get their take on the top pain points they must diagnose in the year ahead.
The overwhelming majority of drivers want to do what’s right for the company; however, just because your company implements a written fleet policy doesn’t mean drivers are following it. A common problem 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? Here are 10 suggestions.
Fleet Advantage's Brian Holland, president and CFO, will participate in two prominent industry panels in October.
Preventing accidents can cut fleet expenses and improve operating of vehicles. Auto manufacturers are coming out with an increasing number of on-board technologies to help drivers avoid accidents.
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