Rising labor rates, the higher cost of raw materials, and more expensive synthetic oils are all contributing to higher fleet management costs. As a business owner, you want to control these costs to preserve the profitability of your business. At the same time, you do not want to skimp on effective fleet management and maintenance.
Here are our recommendations for controlling rising fleet management costs and protecting your business’ bottom line:
- Do not underestimate the power of preventative maintenance—Properly maintaining your fleet of vehicles will always be worth the money, and it is your best line of defense against rising costs. Stay on top of critical vehicle inspections and tire rotations to increase safety and productivity. You should also leverage exception reporting to keep preventative maintenance at the forefront of your priorities and identify any vehicles that need service.
- Institute a regular replacement strategy—To ensure the health of your fleet remains balanced, you need to develop an effective replacement strategy. Do not treat replacing your vehicles as a one-time event – maintain a revolving approach to replacement that allows new vehicles to enter your lineup at regular intervals.
- Take advantage of fleet discounts—Becoming a member of a structured fleet management program can make you eligible for negotiated pricing. At Keystone Fleet Solutions, we can give you additional information about pricing and your estimated savings when you invest in fleet management through us.