7 Benefits of Rightsizing Your Fleet
Fleet rightsizing, or the reallocation of fleet assets (vehicles and equipment), has never been more of a focus for organizations, given EV procurement efforts, fuel costs and increasing economic pressures. The obvious advantage to rightsizing a fleet is focused on capabilities to impact capital budget. However, the insights obtained during a rightsizing analysis can bring several additional benefits to your fleet, improving overall efficiency as well as reducing costs.
Here is a list of the seven overarching benefits of rightsizing a fleet:
1. Cost Reduction
Cost reduction is perhaps the most noticeable benefit of fleet rightsizing. Vehicles can be very expensive investments, so holding on to excess assets that are not being used can cost a fleet more than they realize. By optimizing the size of your fleet, you can eliminate or avoid unnecessary expenses such as maintenance, fuel, insurance, and registration costs associated with unneeded vehicles.
2. Increased Efficiency
Rightsizing your fleet also means matching the right types of vehicles to the right jobs. This can lead to improved operational efficiency, as vehicles are more likely to be used in ways that maximize their strengths and minimize their weaknesses.
3. Reduced Emissions
A rightsized fleet is generally a greener fleet. By eliminating unnecessary vehicles and/or replacing older models with newer, more fuel-efficient ones, you can significantly reduce your fleet’s carbon footprint. This not only helps the environment, but it may also enhance your organization’s reputation.
4. Better Utilization
Fleet rightsizing can lead to better vehicle utilization. A common problem with oversized fleets is that many vehicles end up being underutilized. By rightsizing, each vehicle in your fleet has a specific purpose, leading to higher utilization rates.
5. Improved Maintenance Schedules
With fewer vehicles to manage, your maintenance team can focus on keeping the remaining vehicles in peak condition. This can lead to fewer unexpected breakdowns and a longer lifespan for each vehicle.
6. Less Administrative Work
An oversized fleet can create unnecessary administrative work. Rightsizing your fleet can streamline fleet management tasks, freeing up time for your staff to focus on other, potentially more valuable tasks.
7. Reduced Capital Expenditure
Fleet rightsizing may also allow you to reduce capital expenditure on vehicles, freeing up funds for other areas of your business.
Ready to Rightsize Your Fleet?
Working alongside the largest fleets in North America, Utilimarc’s data science and engineering teams have built a Rightsizing Solution for all fleets, integrating data with most all existing Fleet Management, Fuel, and GPS/Telematics systems.