Top 7 Fleet Performance Indicators You Should Monitor

When it comes to fleet performance, there are a few key indicators that you should be monitoring. Doing this may make the required corrections and improve your fleet’s performance.

Fleet performance indicators (FPIs) are also called Performance metrics for fleets. They are key success metrics that reflect how well your fleet’s services work. Fleet managers may enhance decisions and quality by analysing and monitoring this data.

Each of these indicators can give helpful tips about a fleet’s performance. Fleet managers may track various FPIs, but some are more significant than others. This article will discuss some of fleet operators’ most important performance indicators.

Here are the top 7 fleet performance indicators you should track.

Fuel Consumption

Much discussion in the transportation industry has been made in recent years of the importance of fuel economy. Many different performance indicators have been used to help assess fuel consumption.

The average fuel consumption (AFC) is the most crucial statistic for calculating fuel consumption. The average fuel usage informs you how much gasoline your cars use on average.

It is calculated by taking the total number of gallons of fuel consumed and dividing it by the number of hours the engine was operated. For example, if an engine consumes 10 gallons of fuel in 8 hours, the AFC would be 1.25 gallons per hour.

The cost of fuel consumption when monitoring fleet performance indicators can be significant. In fact, according to a recent study, the average cost of fuel consumption when monitoring fleet performance indicators is $0.15 per gallon.

This means that if you have a fleet of 100 vehicles, you could be spending $15 per day on fuel costs alone.

For example, a fleet that operates a vehicle 10 hours a day and operates it at a certain speed will consume a certain amount of fuel. That amount might vary depending on the vehicle and the climate. The consumed amount will also vary if the same scenario happens at a different speed.

Now, the key success metric in any fleet operation is fuel efficiency. It is a percentage that shows how efficient a fleet’s operations are regarding fuel. Fuel efficiency also influences the fleet’s economy.

A fleet operates at 20% efficiency and consumes 80% of fuel. When the fuel efficiency is 70%, the fleet operates at 9% of fuel. This is the most economical condition.

Maintenance and Repair Costs

Fleet performance indicators are critical measures of success for any fleet leasing company. Among the most important FPIs is maintenance and repair cost per vehicle.

Maintaining and repairing a vehicle fleet can be a major expense for a company. Being able to track this cost well is critical to managing the fleet budget. You may check repair and upkeep costs using some vital fleet metrics.

One of the most important fleet performance indicators is the cost per vehicle. This is the total cost of vehicle maintenance and repair divided by the number of cars in the fleet. This metric can compare the cost of maintaining and repairing a fleet of cars to a similar fleet.

Another vital fleet performance indicator is the number of breakdowns. This is the number of times a vehicle breaks down while in service.

Vehicle Idle Time

Any business that depends on cars to complete its job must rank fleet performance. Indicators for fleet quality are available in several forms. Two of the most important are idle time and vehicle acquisition costs.

Idle time is the amount of time a vehicle is not used for productive work. This includes the vehicle’s buy price, fuel, maintenance, and insurance costs. A car’s idle time displays how quickly it can deplete its fuel supply.

This idle time is especially important for fleets, which use a large number of the idle vehicle. Idle time also shows managers how efficient their fleet operations are. Different vehicles have different idle times.

The data gotten from analysing vehicle idle time can help managers determine how to optimise their fleet. Monitoring these metrics will give you a decent idea of how your fleet is doing and where you can improve.

Driver Compliance With HOS Regulations and Turnover Rates

One of the most vital aspects of adhering to hours-of-service laws is how long a driver is on the road. But it’s not the only factor. Another essential metric is turnover rates.

Turnover rates are a measure of how often drivers leave a company. A high turnover rate indicates drivers are unhappy with the company. Turnover rates are an important measure to keep track of.

Both HOS rules and turnover rates can have a significant impact on a company’s bottom line. For example, driver turnover rates can lead to higher recruitment and training costs. Also, HOS violations can lead to costly fines and lawsuits.

Other factors are also necessary when monitoring driver compliance with hours-of-service regulations. But these two – hours on the road and turnover rates – are some of the most important.

Accidents Rates

When conducting a fleet assessment, you should track several key performance indicators (KPIs). One of the most vital is the accident rate, which refers to the average number of accidents per 100 drivers. This KPI is important because it gives you a good sign of the safety of your fleet.

High accident rates make your drivers likely to sustain injuries and damages. A low accident rate makes your drivers less likely to have an accident, making your fleet more stable.

The average number of accidents per driver is a good starting point, but it is not the only factor you should track. You should look at the types of accidents that are being reported, as well as the severity of accidents. Considering all these factors, you can get a complete picture of a fleet’s safety.

Driver Compliance With Traffic Laws

Driver compliance with traffic regulations is the most crucial fleet performance indicator. Transportation managers are under constant pressure to improve their KPIs. Yet, complies are often slack in favour of specific measures, such as fuel usage or accident rates.

Besides, compliance should be at the forefront of any conversation about transportation strategy. This is because compliance is within the drivers’ control, unlike other KPIs. You can increase fleet safety and save hefty fines by ensuring your drivers obey traffic law.

If you’re not already monitoring driver loyalty, start doing so today. It’s the best way to ensure your transportation strategy is on the right track.

Customer Satisfaction

Most fleet performance indicators are essential for monitoring online and direct freight services. While using online and direct freight services, client pleasure should come before FPI.

One aspect to consider is customer need if you track online and direct freight services. The first thing to remember is that customer satisfaction drives revenue. Happy clients are more likely to use your services again and refer others to your company.

Moreover, happy clients are less likely to leave your business, saving you money. Also, customer satisfaction is a good indicator of the health of your business.

If your company meets or exceeds client desires, it indicates it’s on the right path. Also, if customer satisfaction is low, it’s a red flag for your business.

Ensuring your clients are happy with your service requires evaluating their happiness. Surveys and customer feedback forms are all possible methods for doing so.

Wrapping Up

With gasoline prices rising, fleet managers must check the fuel use of their cars more than ever. Other important monitoring indicators include maintenance and repair costs, customer satisfaction, and turnover.

Tracking these data can help fleet managers decide how to better their system and save costs.

Freight Shipping: All The Things You Need To Know

Freight itself can be defined as the goods transported by truck, train, ship or plane. Freight shipping is one of the essential industries of modern-day living. Freight shipping is necessary to survive and have the things you need.

You have food to eat and a thing or service to enjoy because of freight shipping. Freight shipping helps you to use a car made from a different country.

Here are all the things you need to know about freight shipping:

What is freight shipping?

Freight shipping is the process of transporting cargo, goods, and commodities. The transport is via sea, air or land. Freight shipping often refers to the shipping of commercial cargo. The transportation of goods is by vehicles, including:

  • boat or ship
  • aeroplanes
  • trains
  • trucks and delivery vans

How do freight shipping and delivery work?

Here is the process of how freight shipping and delivery works:

Information about the shipment

The first process of freight shipping and delivery is collecting necessary information about the shipment. The information you need to know includes the following:

  • dimension of the cargo
  • size and weight
  • quantity
  • product type
  • means of transportation
Choose the best freight shipment method

Freight shipping usually involves bulk packages of goods and commodities. Decide on the best method of transporting the large shipments to a warehouse.

There are different freight shipment methods like ships, planes, and trucks. A middle mile tracking helps to know about the transportation of the goods from the port to your warehouse.

Packaging the shipment

Once you have decided on the shipment method, you should be ready to pack your shipment. A commercial goods shipment is usually in a big sealed steel container. Other packaging options for personal shipment include:

  • boxes
  • rolls and bundles
  • coils
  • crates

Choose a freight shipping company

There are different freight shipping companies in the market. You must choose the most reliable and fast freight shipping company to deliver your goods and commodities.

Here are some of the things you will need to consider when choosing the freight company to transport your goods and commodities:

  • the years of business of the freight shipping company
  • the on-time delivery of the freight shipping company
  • the reputation of the freight shipping company
  • other network connections of the company
  • does the freight shipping company guarantee the safety of your goods and commodities?
  • are there any tracking options that you can use?
  • discounts and other rewards of the freight shipping company

How does freight shipping makes lives better?

Here are some ways where freight shipping makes lives better:

  • allows different countries to trade goods and commodities
  • helps in the development of every country’s economies
  • enables manufacturing of goods affordable
  • allows easier export of materials for production
  • low environmental footprint

What are the benefits of using freight shipping companies?

Freight shipping companies help you to transport goods and services. There are many benefits of using freight shipping for people. Below are some of them:

Convenient transport

As you will be spending money on transport, a freight shipping company is a convenient way to transport your goods and commodities. A freight shipping company will be able to transfer your shipments with the least stress and hassle on your part.

Reliable good and commodities carrier

Freight shipping ensures that your shipments arrive on time. Freight shipping also guarantees safe and secured transportation of goods and commodities across the globe.

Large items fit

Freight shipping is necessary when transporting large items. There are bulky items that freight shipping can carry, this includes:

  • vehicles
  • machines and industrial equipment
  • pianos
  • crates of fruits and vegetables
  • large furniture like beds and sofas
Tracking your goods and commodities

Freight shipping can track your goods and commodities while still in transit. Tracking helps you have better visibility and progress of your shipment. Tracking your shipment is necessary to see if there is something wrong with the transportation process.

Economical shipping of goods and commodities

Freight shipping is relatively cheaper than other options of transport. Freight shipping helps to transfer commodities at the least possible cost that you can spend.

A Comprehensive Guide to Purchasing a Reliable Business Car

Choosing a new business car? Many people need a car for transportation for their business. Whether you’re an employee who is expected to drive to clients or a self-employed person who needs a vehicle to complete their job, there are many reasons to buy a business car. Some will need to travel long distances, while others only drive sporadically.

The question is, how do you choose the right car for your business? How do you know you’re buying a vehicle that will be reliable and cost-efficient. Let’s take a look, in this comprehensive guide to purchasing a reliable business car.

Mileage Is Key

Assuming you are a business owner and someone who is going to be paying for this vehicle yourself, mileage is key. There are a few things to consider here. Firstly, the kind of driving you will be doing. If you are zipping about a metropolitan area with lots of stop-start driving, you want something designed for being efficient in the city. If you are cruising along freeways for much of your driving, then something more efficient on long, higher-speed runs is more important.

Secondly, you may wish to look for a hybrid or electric vehicle. These vehicles tend to have a higher MPG rating than full-fuel cars. They may, however, be more expensive than their fuel-based counterparts. Work out what is best for your business now and in the long run.

New vs Used

Often, people turn their noses up at the thought of buying a used car. However, it’s not always a bad idea! It can be extremely cost-effective and, if you purchase your vehicle from the right place, just as reliable and safe as purchasing a brand new motor.

There are some great pre-owned programs out there. In fact, according to Holman INFINITI “Certified Pre-Owned vehicles combine true peace of mind with the exceptional experience of owning an INFINITI at a pre-owned value.” The certification process of pre-owned vehicles means that you are buying a car that meets strict criteria, has a warranty, and has been looked after by experts. Buying this way could save your business a huge chunk of money and leave you feeling confident about your purchase.

Think of Your Comfort

There is one thing that you should definitely be thinking about when purchasing a new vehicle for business and that is your comfort. Assuming that you will be in this vehicle for multiple hours every week, you don’t want to be uncomfortable! Even if you’re only hopping in your vehicle 3-4 times a week, you still don’t want that to be the worst part of your working week. Take time to ensure you are purchasing a car that suits your size, your comfort, and your needs.

Warranties & Services

Purchasing a car is just the first piece of the puzzle. Once you own a vehicle, you will need to look after it. It’s worth checking out various dealers and brands to see what kind of warranties and ongoing services they provide. Servicing a car can be extremely expensive without any kind of deal in place, so look for a dealer that offers a long-term warranty or ongoing service scheme. This may be reflected in the price of the car but should work out cheaper in the long run.

How Much Space Do You Need?

There are many different reasons to buy a car for your business. Maybe you’re a therapist or masseuse, meaning you travel to clients with a lot of equipment. On the other hand, you could be a designer who simply needs to travel to meetings quickly with minimal gear. Whichever side of the scale you fall on should reflect the size of the car you are looking for. There’s no way you’re fitting a massage table in a 3-door city car!

Add-Ons

Finally, you should always speak to an expert dealer when purchasing your car to figure out what add-ons and tech you may require in the vehicle. If you’re likely to spend lots of time on the phone when driving, you’ll need to ensure that you have Bluetooth connectivity. If you expect to spend a lot of time driving long distances, a cruise control function could come in handy. On top of that, there are plenty of extras that will simply make your driving experience far more enjoyable.

Once you have factored each of these points into the equation you will be able to make an informed decision about what kind of business vehicle is right for you. There are plenty of new and used car dealerships that you can take this information to, then you can allow them to help you find the right car based on your priorities.

Principal Solar Provides Status Update of eTruck Transportation

McapMediaWire Principal Solar Inc., a strategic investor in and acquirer of technologies that support next-generation opportunities in renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that eTruck Transportation is on schedule with the development and planned availability of its class 6 hybrid heavy electric vehicle demonstration vehicles, both of which are planned for Q4 of 2021.

“Our investment in eTruck Transportation is performing as anticipated,” said K. Bryce “Rick” Toussaint, CPA, MBA, Chairman and CEO of PSWW. “eTruck is on schedule for a Q4 completion of its two initial vehicle conversions for customer evaluation and plans to accept commercial orders in the same quarter.”

A video of eTruck’s Class 8 demonstration vehicle is viewable here.

eTruck’s heavy vehicle EV conversion technology is engineered to enable transportation and logistics companies of all sizes to cost-effectively transition their existing fleets from diesel to high performance hybrid electric fleets without waiting for major truck manufacturers to engineer completely new platforms.

eTruck’s proprietary system lowers operational costs, reduces fuel consumption and emissions, thus enabling diesel fleets to transition towards electric power, without sacrificing performance, range, or utility.

Principal Solar, via its Nexteal subsidiary, is strategically investing in emerging electric vehicle technologies that are ready for near-term commercial rollout, thereby meeting today’s market demand with timely, cost-effective, and environmentally-friendly solutions.

About Principal Solar

Principal Solar is a strategic investor in and acquirer of technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer of undervalued petroleum-producing properties.

For further information, please visit the Company’s website at www.pswwenergy.com

Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995

The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated.

For example, statements that describe PSWW’ hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs’ control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

This news release should be read in conjunction with PSWWs’ most recent financial reports and other filings posted with the OTC Markets and/or the United States Securities and Exchange Commission by PSWW.

Principal Solar Contact

K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer

Email: kt@pswwenergy.com
Tel: 346-396-4210

Investor Relations Contact

Michael Briola

Email: invest@pswwenergy.com

Deloitte Announces 2 Senior Partner Appointments

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a multinational professional services network with offices in over 150 countries and territories around the world.

Deloitte has announced the appointment of senior partners Hannah Routh and Charlotte Warburton to strengthen the firm’s global climate change and transport services.

Hannah Routh brings 25 years’ experience in the climate change and sustainability sector.

Previously a partner with Deloitte China, Hannah was responsible for the Climate Change and Sustainability Advisory practice for Deloitte Asia Pacific.

In her new role with Deloitte she will be responsible for building the existing team to deliver climate change, decarbonisation and net zero projects for private and public sector clients.

Charlotte Warburton joins Deloitte’s public sector practice as the consulting transport leader, following five years at PA Consulting Group advising global transport, travel and logistics companies, as well as leading their Rail group.

She has previously worked on a number of large scale innovation programmes, both in the United Kingdom and in the Middle East.

A transport and technology specialist, Charlotte will be responsible for growing the firm’s transport consulting practice across the United Kingdom and Europe, with a special emphasis on the building the firm’s offering in the North of England.

Through national transformation Charlotte will focus on helping companies to achieve their net zero climate targets.

Hogan Lovells Helps Uber Technologies Inc Regain its UK Licence

Uber Technologies, Inc. is an American mobility as a service provider. It is based in San Francisco with operations in approximately 72 countries and 10500 cities.

Hogan Lovells has secured a major win for its client Uber, securing the firm’s right to continue operating in London.

Hogan Lovells is an American-British law firm co-headquartered in London and Washington, D.C. It was formed in 2010 by the merger of the American law firm Hogan & Hartson and the British law firm Lovells.

Following a three-day hearing at Westminster Magistrates’ Court earlier this month, the judge this week upheld the ride-hailing company’s appeal against Transport for London, finding Uber “to be a fit and proper person to hold a London PHV operator’s licence.”

London has a reputation as an important centre for financial services, corporate transactions, and disputes. And so does Hogan Lovells.

Deputy Chief Magistrate Ikram also noted the company’s efforts to improve its processes and its introduction of industry leading systems.

Uber first secured a five-year licence in May 2012 and sought a renewal in 2017. TfL refused to renew and Uber, represented by Hogan Lovells, appealed to the chief magistrate, who granted it a 15-month licence in June 2018, subject to various conditions.

In November 2019 London’s transport operator refused to grant a renewal saying that Uber was not “fit and proper” to hold the licence. Uber was allowed to continue operating in the capital while the appeal was underway.

The latest decision secures the firm’s right to continue operating in London, having been granted an 18-month licence.

The Hogan Lovells legal team representing Uber was led by Charles Brasted and also included Julia Marlow, Andrew Eaton, Dervla Simm, Telha Arshad and Louis Biggs.