Blog Post

The future of effective fleet management

Adapt Ideations • October 26, 2020

Arising again in a post-Covid-19 world will require all companies consistently to be aware of how their fleets are being utilised and key metrics on their daily use.

With the increased influx of technological adaptions, automatisation of operational tasks, artificial intelligence and IoT enhanced technology the future of the logistics industry is bright. Arising again in a post-Covid-19 world will require all companies consistently to be aware of how their fleets are being utilised and key metrics on their daily use. The utilisation of digital fleet monitoring solutions enables companies to improve their daily operations and increase efficiency.

A study conducted by McKinsey and Company in 2018 found that approximately 15% of all fleets now come with already installed telematics that allows businesses to gain useful insights into their fleet activity. The global market for the utilisation and installation of fleet telematics is expected to grow at a 23% annual rate and is projected to reach $75 billion by 2025 as stated by McKinsey and Company in 2018. This is a significant growth, which further highlights the importance of effective fleet management to enhance the operational activities of businesses. Data gained from digital monitoring devices provides businesses with the information needed to understand their daily operations more effectively.

Upcoming technology will revolutionise the operational activity and management of the logistics industry. Advanced data analytics reaps a multitude of benefits for the logistics industry. Digital fleet tracking greatly optimises the productivity of the logistics industry, as companies are able to understand the key parameters of the vehicles that are in use. Idle time, excessive fuel costs and operational tasks all arise in the event of reactive issue control. A report released by WorkTruck in 2019 mentions that unscheduled vehicle downtime costs logistics companies between $448 to $760 a day. With the implementation of digital fleet tracking solutions, companies are able to take a proactive management approach when dealing with issues that occur. Rather than becoming aware of an issue much later, IoT enhanced fleet tracking solutions allow companies to achieve greater visibility and understand the conditions experienced by vehicles. This allows potential issues to be identified when they occur. 

Effective fleet management allows great profit to be achieved for the logistics industry. A report released by Entrepreneur in 2019 found that 34% of their surveyed companies reported that their vehicle costs were much higher than needed. The effective management of vehicle costs such as fuel can be achieved through the consistent monitoring of fleet activity and tracking of locations to perceive where unnecessary movements are taking place. The report further highlighted that 81% of SME’s surveyed found that upon digitisation of fleet activities, their business outputs were greatly increased. Effective fleet management also ensures the safety and operational efficiency of employees onboard the vehicles. Adapt Ideations digital fleet tracking solution features acceleration detection that can detect issues related to driver fatigue, delayed braking and even potential accidents. The safety of employees and assets assures businesses are operating efficiently. The future of fleet management is built on the utilisation of data analytics to make better-informed business decisions. Fleet maintenance, management and operational control will demonstrate heightened efficiency with the implementation of digital fleet tracking solutions.

Adapt Ideations digital fleet management solution DRIVE assists the logistics industry to better manage and maintain the operational excellence of their vehicles. The near real-time data gathered from DRIVE empowers businesses to consistently monitor and track the location, distance and engine time of all their vehicles in operation. DRIVE is also fitted with accelerator sensors that detect when violations occur such us exceeding the set speed limit. Any deviations from the set sensor parameters result in near real-time alerts that allow businesses to take necessary action. The implementation of digital fleet management solutions will enable companies to reduce the challenges of inefficient operations including excessive costs. The data gathered from the device can be easily accessed on our platform. Effective vehicle monitoring will be key for the logistics industry if they are to prosper after the impacts of Covid-19.

Enquire today at enquiries@adaptideations.com to find how you can transform the management of your fleet.

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