How to Keep Fleet Management Costs Down in a Recession

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By Dan Coleman, freelance writer.

The cost of living is rising exponentially right now, and there’s no clear end in sight. Therefore, many businesses try to retain every penny they can by cutting their monthly outgoings. In the logistics industry, this may seem an impossible task, especially when you factor in the cost of fuel. That being said, there are still ways that fleet managers can navigate their crew through times of a recession and come out the other end on top - we discuss below.

Automated Route Planning

There are countless ways to get from point A to B, but specific routes will take less time and save more fuel. With this in mind, you should adopt automated processes to calculate the most efficient routes. As well as saving on fuel costs, it will prolong the life of vehicles by reducing unnecessary wear.

Maintenance

Keeping a fleet in working order requires consistent maintenance and will help reduce expensive repairs. To help mitigate the cost of maintenance and repairs during a recession, you should take out adequate truck insurance. On Quotezone, you can compare truck insurance from the UK’s leading providers and have results sent to your email address within two minutes.

Data Management

Big data is making waves across all industries, and logistics is no different. Tools with machine learning and artificial intelligence can analyse your fleet's position, driving styles, and productivity levels in a bid to provide tailored training. To get started with fleet data tracking, you can read this assessment of the top 24 fleet management software.

Effective Communication

Effective communication between drivers and fleet managers helps to keep plans on track by allowing for changes on the go. As well as promoting effective teamwork, your communication channel should account for workforce praise, which will help encourage productivity.

Managing Fuel Spending

The average fuel price has risen to around 190p per litre, and it likely won’t go down anytime soon, making it one of the most expensive outgoings for fleet managers. Unfortunately, there isn’t a lot to be done about the cost of fuel, but you can switch up management strategies to be more efficient. For example, you can analyze driver behaviours and check for excess speeding or idle time. Further, you can carry out training to remind truck drivers to avoid last-minute stops or fierce acceleration.

Consider Truck Size

The size of the truck is important and should be paired with the side of the load. For example, if you have a small load, you don’t need to use the largest truck in the fleet because fuel outgoings will be higher than necessary. Further, you need to assess the route and consider bridge sizes and tolls, which will impact the cost of the journey.

Fleet management can feel impossible during times of recession, but with careful planning, it can feel much easier. Keeping track of truck data, maintaining open communication, and keeping trucks in good working order will help to reduce monthly outgoings.

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