How GPS Fleet Tracking Can Reduce Your Business’s Operating Costs?
Jan 17, 2024•5m
Reduced Fuel Requirements
The U.S. Energy Information Administration (EIA) statistics show fuel prices have declined gradually since the peak in 2022. If these government forecasts are correct, the trucking industry expects fuel prices to average about $0.60 per mile for 2023, with potentially lower fuel costs moving into 2024. Despite this recent decline, the American Transportation Research Institute reports the average fuel cost per mile in 2020 was $0.43, indicating a notable increase over the years despite the current downward trend.
For fleet cost reduction, optimization of fuel usage remains a key factor to impact your business’s operating costs. The best GPS tracking helps reduce fuel costs with:Route Optimization
Less Misuse and Lowered Fuel Theft Rates
GPS tracking helps your businesses prevent misuse by detecting unauthorized vehicle use. An affordable GPS tracking system monitors for fuel siphoning and fueling up vehicles for personal use. Accurate data and specific alerts let you identify suspicious activity. With irrefutable proof, you can directly address vehicle misuse and fuel theft.
Driver Behavior Monitoring
Driver behavior is a significant factor that drives high fuel consumption. Using fleet GPS, you can reduce fleet costs by tracking and improving driver behaviors like rapid acceleration, harsh braking, and speeding in real-time. With feedback and training based on accurate data, drivers implement more appropriate driving habits.Vehicle Maintenance
Preventative Maintenance Scheduling
Most preventative maintenance scheduling uses fixed intervals to determine when vehicles might require service. Scheduling preventative maintenance using accurate GPS data reflects the actual use and condition of your fleet vehicles. Exact information in reports outlining engine hours and mileage avoids costly repairs and surprise breakdowns while complying with emissions and safety regulations. Ultimately, fleet preventative maintenance scheduling extends the lifespan of vehicles and reduces fleet costs, which improves the bottom line.Vehicle Maintenance Records Management
GPS fleet tracking systems manage vehicle maintenance records. At your fingertips, you can access reports on service history, warranties, or recalls for each vehicle for complete fleet optimization. You can use the platform on your GPS system to store and organize all your vehicle maintenance records.Reducing Labor Costs with GPS Fleet Tracking
Payroll expenses are a significant portion of fleet operating costs. Fleet tracking impacts labor costs in two significant ways.Paying Less for Overtime Hours
With fewer overtime hours, your affordable GPS tracking system quickly demonstrates a significant ROI through monitoring driver activities and vehicle hours. It begins with efficiently tracking driver start and end times and continues by recording driving times and breaks. This makes it easy to ensure every driver maintains compliance with Hours-of-Service rules. Plus, GPS tracking reports create accurate timesheets for payroll, which eliminates entry errors and provides evidence for disputes.Productivity Means Profitability
Dispatchers and drivers can use real-time GPS data to make highly productive in-the-moment decisions efficiently. Dispatchers know the location and status of each vehicle, so assigning a driver to a trip becomes a data-driven strategy. Quick responses reduce the impact of emergencies and run changes. Plus, your team can effectively manage customer expectations with updated delivery schedules. With less downtime and fewer, shorter delays, your fleet becomes more productive and, therefore, more profitable.Author
Mykael Korpash
Fleet and Tech writer
Reviewed by
Nico Photos
Customer Insights Manager
Adam Ben Jacob
Director of Support and Technology
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Author
Mykael Korpash
Fleet and Tech writer
Mykael writes on all things fleet and tech for One Step GPS. She has a nuanced knowledge of actual user experiences with fleet tracking software and of modern fleet issues and covers the most important topics in the space.
Reviewed by
Nico Photos
Customer Insights Manager
Nico is obsessed with how One Step GPS customers use and derive value from our platform and devices. He regularly conducts interviews with fleets of all shapes and sizes to document the problems they're facing, their needs, and the tools and solutions that help make their lives easier.
Adam Ben Jacob
Director of Support and Technology
Adam oversees the Customer Success Department of One Step GPS, a department that serves over 20,000 customer fleets at this moment. His breadth of knowledge is unmatched, and Adam's unique insight into the inner workings of fleets and fleet tracking brings value found nowhere else in the industry.