To maximize profit, cost management is a goal of any business organization. The steps to effective cost management in the fleet industry sound simple, but can be complex to implement. Understanding your goals and your action plan to achieve them will help you focus on exactly the kind of information you need to measure your progress. With the right tools, metrics and information, you can boost the contribution your fleet makes to your company’s bottom line – and prove it.
For most fleets, the single biggest cost is depreciation, followed by fuel, maintenance, accidents, insurance and incidentals, such as washing, tolls and parking. Learn what your fleet’s major cost categories are. Spend the right amount of time and energy focusing on major costs, and limit the time and energy you spend on less significant ones, or the ones you can’t control.
For more information, download What You Need To Know About Fleet Costs.