Top management concerns for truck fleets

Top management concerns for truck fleets

If you were asked to list your top concerns regarding fleet management, what would your first responses be? Here’s what some of your peers had to say in a recent survey conducted at the 2014 NAFA Institute and Expo by GE Capital Fleet Services.

Topping the list of concerns was ensuring driver safety—it was listed as the biggest priority of fleet managers. With more than a third (35%) of fleet managers identifying it as their main concern, driver safety outpaced cost-savings goals and workforce productivity (27% and 22% respectively) as the top concern for the second year in a row.

In addition, 62% of survey respondents said that the main focus of their company’s executive leadership is achieving cost savings. With this goal in mind, fleet managers are using a number of tactics to manage costs. Also noted in the survey, 43% of respondents cited vehicle purchasing decisions as the greatest opportunity for savings, followed by managing maintenance expenses (32%) and activating telematics and analytics solutions (22%).

“As fleet managers continue to focus first and foremost on driver safety, they must also concentrate on finding ways to take more cost out of fleet operations,” said Mark Hayes, chief marketing officer for GE Capital Fleet Services. “Increasingly, fleets are utilizing technology tools that address the dual challenges of cost and safety. These include telematics solutions that alert drivers to potential accidents, intelligent collision alert systems and data analytics that help predict and manage maintenance costs.”

Several other areas of fleet management were included in the survey. Another area of concern cited by fleets is enhancing productivity. According to the survey, the two biggest areas of focus for enhancing productivity were defining a comprehensive vehicle replacement/cycling plan (30%) and specifying the appropriate vehicle for the job (27%).

In addition, the fleets surveyed were queried on analytics, specifically, improving efficiency and saving costs. When asked how analytics have most helped their fleet, 46% of fleet managers cited improved operational efficiency, with an additional 22% citing cost savings through analytics.

As for the use of alternative fuel vehicles, 32% of fleets managers surveyed stated that alternative fuel vehicles were already in their fleet, with an additional 33% stating that they were planning to incorporate alternatively fueled vehicles into their fleet within the next two years.

“Fleet managers increasingly are analyzing data to make cost savings, safety and productivity decisions based on fleet performance and operations,” said Doug Peters, analytics leader at GE Capital Fleet Services. “Recently, our team at GE Capital Fleet Services launched MyFleetOffice2, an advanced fleet management and analytics platform, to help decision-makers access deeper and more insightful data and analytics to meet their bottom line and boardroom goals.”

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