Measuring to improve: the top KPIs fleet managers should be tracking
Telematics and the need for ELDs have made it infinitely easier for fleet managers to collect data. However, the amount of data received on a daily basis can feel overwhelming. So, the question is: how do you know whatÕs most important?
To avoid being inundated with information, you can use Key Performance Indicators (or KPIs) to break the data up intomanageable and relevant chunks. KPIs help you to understand how your fleet is currently performing and what actions to implement forimprovement.
While KPIs do differ somewhat according to fleet size and vertical, there are certain indicators we believe all fleet professionals should be monitoring.
Monitoring safety is vital for any fleet as a lack of safety can have a knock-on effect on efficiency and cost savings. One of the best ways to measure the safety of your fleet is to track bad driving behavior. Therefore, the KPIs you should be looking at include:
- Harsh braking and acceleration
- Corner handling
The above factors are all directly related to an increase in bothfatal and non-fatal crashes. It stands to reason that monitoring and then reducing these behaviors will help to decrease the occurrence of crashes. You can also use these KPIs to determine what led up to a crash or other safety-related incident so that you can put preventative measures in place.
Ensuring efficiency with the use of certain KPI measurements can save you both money and time. These measurements include:
- Fuel economy per vehicle
- Fleet asset utilization
When you know which vehicles are not being optimally utilized, you can better manage schedules and ensure that vehicles are generating income at all times. Monitoring fuel economy and keeping up with maintenance can help you save costs in the long run.
- Available hours
- Hours of Service violation reporting
- Unassigned mileage per vehicle
All of the above relates toHours of Service (HOS) regulation which is the main objective of the ELD mandate. As part of this regulation, drivers are required to stick to a certain amount of weekly driving and working hours, and must also rest for a minimum amount between driving shifts.
Unassigned mileage is the driversÕ responsibility as are all hours of service related to them. However, fleet managers should still monitor this and provide correction oversight.
Whilst measuring the above KPIs definitely moves fleets towards ELD mandate compliance, it can also help with the achievement of safety and efficiency goals.
Get more detailed information on this topic by downloading our white paper and see how you can also successfully establish, measure and implement KPIs relevant to your fleetÕs needs.