Leverage Data Analytics to Reduce Operating Costs with Fleet Team's Insights Dashboard

Advertisement
- 11 Apr 2024 ( #1174 )
3 min read

Businesses face continuous pressure to maintain safety standards while continuing to deliver efficiently. However, this is becoming more challenging due to reduced budgets and limited resources as our economy fluctuates. In large, decentralized environments, maintaining visibility over assets becomes increasingly difficult, resulting in higher costs, underutilized equipment, and increased risks of noncompliance and safety hazards. Companies can address these challenges with a centralized enterprise solution for fleet management, offering fleet managers visibility into operations to inform decisions and guide future asset planning. 

An enterprise solution that can help effectively manage your fleet is our Insights Dashboard. This tool empowers individuals managing material handling fleets by breaking down complex data and visually transforming it to provide visibility into key data points and equipment operations. Powered by real-time data and analysis, the Insights Dashboard displays simple and digestible views of your entire fleet, right at your fingertips. 

Benefits of Fleet Team’s Insights Dashboard include:

1. Real-Time Data: Powered by real-time data and analysis, our Insights Dashboard gives you a comprehensive view of your fleet's operating status, enabling quick and informed decision-making.

2. Key Performance Indicators (KPIs): Easily track crucial KPIs and performance metrics to gain valuable insights for optimizing fleet operations and reducing costs. Some key areas to focus on include:

  • Cost Per Hour: Determine the actual cost of operating your fleet by considering all relevant expenses, helping you make more informed decisions.
  • Repairs: Categorize repairs to identify trends, determine repair frequency and cost, and inform maintenance strategies for reduced downtime and improved equipment performance.
  • Top Expense Assets: Identify and focus on high-expense assets to optimize utilization and improve efficiency.
  • Top Expense Repairs: Gain insight into equipment contributing to high-expense repairs and make informed decisions about replacements or upgrades.
  • Planned Maintenance Compliance (PM): Track PM compliance to reduce repair costs, improve reliability, and extend equipment lifespan.
  • Rentals and Leasing: Make informed decisions about the most cost-effective methods for acquiring additional equipment.

Turning Data into Action

While the dashboard is a valuable tool, our data analysts' and industry expertise is the driving factor in harnessing the power of your fleet's data to drive efficiency, reduce costs, mitigate risks, and improve overall fleet management operations. Our analysts understand the trends impacting your fleet and develop impactful management strategies, improved performance, safety enhancements, and proactive recommendations for long-term planning. 

Long-term holistic planning is the key to reducing operating costs for your fleet. One key metric we always take into consideration when looking at a fleet is Total Cost of Ownership, the total cost of owning and operating a product or service throughout its entire lifecycle. TCO analysis helps businesses move beyond the narrow focus of upfront costs and consider the long-term expenses associated with owning and operating material handling equipment. 

Case Study

Fleet Team saved a Food & Beverage manufacturer $1.8M by reallocating over 240 assets throughout their network when they closed one of their manufacturing locations. Utilizing our Insights Dashboard and data analysis, we determined which assets could be moved based on tracked leases, utilization rates at other facilities, and other key metrics. Rather than purchasing new equipment and incurring new costs, this manufacturer avoided $1.8M in early lease termination costs just by moving equipment to locations that needed it. In addition, we also leveraged our secondary market partners to sell assets that were no longer needed, recouping a portion of the client's initial investment. This was one instance of looking at each component of the equipment lifecycle and developing a holistic fleet management solution for the client.

Partnering with Fleet Team and implementing the Insights Dashboard will empower your fleet management team with real-time insights and data-driven decision-making capabilities, resulting in decreased operating costs, increased efficiency, and improved safety. Contact us today to optimize your fleet operations and achieve long-term cost savings.

About Fleet Team

About Fleet Team

Fleet Team is a trusted fleet management consulting company in the material handling industry in Cleveland, Ohio, with 625+ client sites, 300+ supplier relationships and 25K globally managed assets. As a strategic, brand-independent consulting partner, Fleet Team specializes in cost-saving initiatives and real-time data analytics through streamlined vendor management and implementation of efficient and sustainable practices.

Learn more about Fleet Team at fleetteam.com.

To learn more about impactful advertisements: download our media kit
The article on this page is supplied by and shown on behalf of an advertiser and does not in any way represent the views of Forkliftaction. The originators take full responsibility for their content. We advise you to contact the advertiser directly for any matters concerning this article.
Words of support …

Undoubtedly, peer experience plays a crucially important role in our industry and it is extremely valuable for us to be part of the platform, where industry professionals, as well as end users can discuss and learn more about the materials handling world.

Alexandra Artemova, Marketing Specialist - Rocla AGV Solutions
Upcoming in the editorial calendar
DIGITISED STOCK CONTROL AND FORKLIFTS
May 2024
PRODUCTION OF MATERIALS HANDLING EQUIPMENT IN NORTH AMERICA
Aug 2024

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Inside The News
This week we bring news of big industry players expanding their companies with cross-border acquisitions and investments... Continue reading
Oshkosh to acquire Spain’s Ausa Oshkosh, WI, United States
Upcoming in the editorial calendar
DIGITISED STOCK CONTROL AND FORKLIFTS
May 2024
PRODUCTION OF MATERIALS HANDLING EQUIPMENT IN NORTH AMERICA
Aug 2024
Inside The News
This week we bring news of big industry players expanding their companies with cross-border acquisitions and investments... Continue reading
Words of support …

Undoubtedly, peer experience plays a crucially important role in our industry and it is extremely valuable for us to be part of the platform, where industry professionals, as well as end users can discuss and learn more about the materials handling world.

Alexandra Artemova, Marketing Specialist - Rocla AGV Solutions

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Upcoming industry events …
May 30-31, 2024 - Singapore, Singapore
June 11 - 13, 2024 - Rotterdam, Netherlands
October 23-25, 2024 - Ningbo, China
Inside The News
This week we bring news of big industry players expanding their companies with cross-border acquisitions and investments... Continue reading
Words of support …

Undoubtedly, peer experience plays a crucially important role in our industry and it is extremely valuable for us to be part of the platform, where industry professionals, as well as end users can discuss and learn more about the materials handling world.

Alexandra Artemova, Marketing Specialist - Rocla AGV Solutions

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Upcoming in the editorial calendar
DIGITISED STOCK CONTROL AND FORKLIFTS
May 2024
PRODUCTION OF MATERIALS HANDLING EQUIPMENT IN NORTH AMERICA
Aug 2024