One of the most difficult issues for a fleet operator is the cost of fuel. Fuel appears to be an ever-flowing source of stress and lost money, being the second largest expense category after labor costs. And it is if you don’t have control over it.
Fuel accounts for at least a quarter of a fleet’s total maintenance budget. However, the ever-increasing share of gasoline costs is not a major issue in and of itself. The real challenge is the lack of predictability, as the price of gasoline is determined by hundreds of external economic and political factors that no fleet management company can control or predict.
The good news is that proper application of advanced technologies can assist fleet managers in managing uncertainties and addressing the challenge of rising fuel costs.
Managers can take petrol fair share policies to a new level by analyzing data obtained from GPS tracking devices. Let’s get down to business and see how it works and what benefits fleet fuel monitoring solutions can provide for businesses.
On Road Fuel Saving
A fuel management system is a component of a fleet management that records fuel consumption data and improves fuel economy using real-time tools and quantitative technology. Fleet managers can use real – time fuel control systems to continuously monitor fuel consumption habits and performance measures improvements to fuel efficiency.
A fuel monitoring system’s primary functions are to control and monitor fuel consumption and expenses. Previously, fuel control was largely a manual process managed by drivers who were responsible for checking a fuel level and other parameters and reporting them to a manager.
One of the key elements supporting financially viable fleet maintenance is fuel economy. Therefore in due consideration, advanced fleet fuel monitoring systems are the most efficient way to monitor and maintaining fuel consumption requirements for an entire fleet as well as each individual vehicle.
How can GPS Tracking Technology Assist in Fuel management?
Fleet management is one of those businesses where cutting costs can help you increase your profits. Investing in a custom fuel management system can assist you in achieving your objectives. Let’s take a look at some of the best benefits of having a fuel management system. It will not only help you monitor and manage the fuel efficiency of various vehicles, but it will also help you prevent fuel theft. The next step on the way will be to look into the causes of poor fuel efficiency. Smart Track and Fleet Management Application can also be of great assistance in this regard.
“Good management is the art of making problems so interesting and their solutions so constructive that everyone wants to get to work and deal with them.”Paul Hawken
Fuel monitoring and reporting
A fuel reporting is a record of the fuel buying made by a specific fleet vehicle. It is also the primary information source for fleet managers to review fuel costs and compile with reports.
The most basic information that can be extracted from fuel reports is:
Transaction date and time
Cost per Liter
Litres were purchased.
Data from the odometer at the time of the transaction
The location of a petrol station, for example.
All of this can be used to calculate a vehicle’s MPL (miles per liter), detect inefficiencies, and detect fraudulent transactions. There are several methods for keeping a fuel report.
Problems that fuel management systems solve
Keep track of fuel costs. They incorporate fuel transaction data into data analysis to learn which fuel brands provide the best fuel consumption, compare fuel usage across vehicles, decompose fuel expense, and ultimately enhance your fuel purchasing behaviour.
Implement safe driving practises. By analyzing information on unwarranted speeding, harsh braking, and excessive engine idling, you can also provide benefits to efficient drivers while also training to expensive and wasteful drivers.
Stop fuel theft and leakage by acquiring it. Fuel monitoring and generally pro devices can send alerts about fuel levels and provide updates on fuel amounts in trucks and on-site fuel tanks.
Fuel expense must be calculated and reported. A fuel management system, when integrated with your vehicle’s GPS tracking, can automatically calculate travelled distance and purchased fuel to assist you in filing your fuel expense report.
The ultimate advantage of fuel management solutions is automation — operations that were previously performed manually in excel sheets can now be performed automatically in the background, to provide data analysis on which to base your determinations.