Checklist: Optimising a Fleet’s Capital and Operational Costs

Green piggy bank money box in car interior, vehicle purchase, insurance or driving and motoring cost
Green piggy bank money box in car interior, vehicle purchase, insurance or driving and motoring cost

In order to truly optimise your fleets capital and operational costs, you need a certain level of information. Does your team have the systems and data to provide the right answers to the following questions?

How much capital do I need to optimise and run my fleet over the next 3, 5 or 10 years?
  • Am I able to accurately represent and request this funding from the board, the public or upper management
  • How can I identify and smooth any peaks in the capital funding requirements over the next 3-5 years?
  • Are we operating the right business depreciation policy?
  • How much funding am I likely to be provided with, and what funding is actually needed?
  • What impact does legislation have on our operations? Are we green enough?
  • Can I assess the impacts on similar specifications by the manufacturer to support my decisions?
What is the impact on my team in terms of costs quality and time for this function?
  • Do I have the systems to capture all the important data correctly?
  • How many systems/databases/spreadsheets are we using across the organisation?
  • What do I use to pull and analyse the data?
  • Who is responsible for this? Just one person (single point of failure) or a dedicated team?
  • How many stakeholders across the business are involved?
  • Who verifies and signs off on the data as being accurate and correct?
How much recurring revenue do I need each year to operate the current fleet?
  • How does recurring revenue affect fuel, maintenance, parts, downtime, hire, compliance and green initiatives?
  • Can I set annual operational budgets for fuel, workshop and operational customer locations based on the life of the vehicles and the approved replacement plan?
  • Have I factored in new legislation for greener vehicles?
How many overdue assets do I have?
  • What is the impact of over-age assets on my replacement plan?
  • Have I been given enough recurring revenue (maintenance and parts costs) to cover the costs of these assets still in the fleet?
How much operational history by vehicle, category and specification do I have to feed my replacement planning models?
  • How much vehicle history by year, category, specification and vehicle do I have to help me make the right decisions on life-cycles?
  • Do I know the specifications and model decisions for the next life-cycle?
  • Do I know fuel volume and costs?
  • Can I access odometer readings and annual mileage by category, specification and vehicle?
  • Do you know maintenance labour rates, charges and parts costs?
  • Are you aware of your vehicle downtime?
  • What are your average hire costs?
  • Am I able to score and weigh certain operational factors to help identify and optimise the replacement plan?

Feeling overwhelmed? Don’t worry, there’s an easier way to optimise your fleet costs: AssetWorks Capital Asset Management (CAM). CAM is a comprehensive asset life-cycle-based management system, designed to help asset managers find ways to minimise capital expenditures and operating expenses by maximising the useful life of an asset.

Ready to replace your spreadsheets? Schedule a custom demo of CAM by filling out the form below
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