The world of logistics and fleet management is fast-paced. With the right telematics solutions on your side, keeping tabs on your vehicles becomes a walk in the park. Knowing your fleet asset utilization and the imbalance is not only helpful for informed asset decisions but also ensures fleet and cost management.
Geotab’s Fleet Asset Utilization Explained:
Asset utilization is the who, what, where, and how of your fleet. With Geotab’s fleet asset utilization feature, fleets only operate for their intended use. This telematics solution assists businesses avoid situations where operations are scaling back or being ramped up. Therefore, checking asset utilization frequently is beneficial for fitting your fleet into the evolving business needs. Fleet asset utilization looks at key performance indicators that are vital for fleet management;
- Days driven
- Drive time
- Mileage
Why should you look at Geotab’s fleet asset utilization?
Nothing stays the same in a fleet – new operations, delivery, and customer route, driver shifts. For that reason, fleets need to ensure that all vehicles are being used properly and by the right drivers. Geotab’s Fleet Asset Utilization makes the rotation of vehicles for service requirements possible, making maintenance scheduling easy. As a fleet manager, it enables you to identify conditions impacting trip distance, so shifts can be adjusted accordingly, thus ensuring that the fleet is used to its maximum lifecycle before retiring.
What are Fleet Asset Utilization reports in MyGeotab?
These are fleet management reports that ensure compliance and governance for your fleet. These reports monitor the activities of your fleet and quickly point out areas of opportunity to redeploy and reuse vehicles in other aspects of the business. MyGeotab fleet management software allows fleet managers to generate different reports – Asset Utilization Report, Fleet Utilization Report, and Fleet Distance Trend.
- Asset Utilization Report
This report gives a summary of the 10 most and 10 least utilized vehicles in your fleet. The report is important for making sure that every vehicle is operating and meeting the business target. The Assets Utilization Report is useful because it prevents assets from wasting away and not having use. This report can also create schedules for deliveries – this way you can avoid scheduling the same vehicle(s) all the time. Carefully observing the report will help you identify vehicles to be rotated and how to optimize routes and scheduling.
- Fleet Utilization Report
This is a vehicle’s activities summary report. It is made up of mileage ranges and indicates a count of vehicles used in each range. With the Fleet Utilization report, the fleet manager can identify spikes in usage by specific vehicles and drivers where customers or service range is. This report is also helpful for businesses that are looking to transition and electrify their fleets, especially those operating within a specific or consistent range; the fleet utilization report makes it possible to perform Electric Vehicle Suitability Assessment. Geotab’s Electric Vehicles Suitability Assessment (EVSA) and Geotab’s Fleet Electrification Knowledge Center is your go-to resource for those interested in planning an EV fleet journey – all the way from adoption and transition to operation and optimization.
- Fleet Distance Trend Report
It is imperative for every fleet manager to have a clear overview of the distance each vehicle in a fleet travels. The report provides you with an understanding of whether to downsize or increase your fleet. The Fleet Distance Report details the distance driven against the average distance per vehicle and conveys the business climate. Depending on the date range you want the data for, the report can be for a week, month, or year. The MyGeotab fleet management software enables the sub-periods or groups to a daily, weekly, or monthly reporting. This functionality identifies seasonal and regional trends, creates budget forecasts, and finds the best times to schedule vehicle maintenance and manage downtime.
- The Watchdog Report
This is the police of reporting in the MyGeotab fleet management software. The watchdog provides fleet managers with “a quick snapshot on overall device communication and status” – keeping a close eye on the reports run on Geotab’s fleet management software, confirming that they are up to date with the latest and most accurate information; subsequently ensuring that reports are up to date. Constantly reviewing this report resolves any device health issues in your fleet, to make sure you are getting information from all fleet vehicles.
Get a hang on the management of your fleet, get the fleet asset utilization feature maximized, and every vehicle in your fleet optimized for efficient operation. You should rotate vehicles to help extend their life, repurpose vehicles, clearly define acceptable and unacceptable vehicle usage, and realign zones and rules to manage mileage.
Click on this link for a tutorial on how to run a report How to Run a Report | Geotab. Alternatively, you can reach out to our team of experts.
Join the 3.7 million subscribers that benefit from our Fleet Asset Utilization capability – Request a Demo!
