Products View all
Success Stories View all

Fuel Strategy Framework | Fuel Monitoring Systems for Trucks

The new year is always a good time for businesses to review their strategies! For fleets, one of these strategies might be the fuel strategy. Even in a new year, fleet managers are challenged to get more bang for fuel bucks. Here is a sample fuel strategy framework that is powered by data from fuel monitoring systems for trucks.

ABC Company’s Fuel Strategy Framework

ABC Company is a trucking company. It’s no surprise that fuel is one of their biggest costs. For that reason, ABC’s fleet manager uses fuel monitoring systems for trucks to guide their fuel strategy.

ABC’s fuel strategy is organized into a step by step process. In this process, the fleet manager plans fuel savings, monitors fuel data, creates policies, and reports results.

Let’s closely examine each step.

Step 1: Planning savings with Fleet Savings Summary

As with any good strategy, the first step is to set goals. This is no different for ABC’s fuel strategy. At the beginning of each year, the fleet manager sets fuel savings targets with a Fleet Savings Summary report.

The Fleet Savings Summary creates a dashboard of potential savings from using fuel monitoring systems for trucks. Throughout the year, the fleet manager uses the savings dashboard to compare results against targets.

fleet savings summary

Step 2: Monitoring fuel purchase with Fuel Tracker

In the second step, ABC’s fleet manager collects fuel purchase data. Vital data is collected and reported on the Fuel Tracker Report.

For instance, the fleet manager can see where fuel was purchased, how much fuel costed, and what was the fuel economy. Afterwards, the fleet manager creates effective purchase policies by analyzing fuel purchase reports.

Step 3: Monitoring fuel usage with Fuel Consumption Analysis

The third step is to monitor trucks as they go on the road. Here, the fleet manager’s biggest challenge is to make sense of all of the data.

Since fuel use depends on different factors, the fleet manager relies on Fuel Consumption Analysis to narrow down what’s driving fuel cost and how to meet savings targets.

For instance, fuel variation reports shows how much fuel was consumed each day. From these reports, ABC can filter out days that had dips in fuel efficiency.

From here, the fleet manager looks at each dips and makes sense of it. Was it caused by poor driving? Long routes? Faulty vehicles? By going through the checklist, the fleet manager can then make an informed decision on how to meet savings targets.

Step 4: Creating policies

The fourth step is where fleet managers earn their living. In order to reach the year’s savings targets, ABC’s fleet manager creates policies from data collected in the last 2 steps.

After reviewing data, ABC created the following policies:

  • Fuel purchases. The fleet manager published a list of preferred fuelling stations. By using fuel purchase data, the fleet manager identified the highest value fuelling stations.
  • Driver training. The fleet manager sent several drivers to a training center. After analysing variation reports, the fleet manager noticed that the same drivers struggled with certain driving habits. Then, by re-training the drivers, fuel savings increased.
  • Truck order. The fleet manager ordered a new truck. The fleet manager noticed that a particular truck struggled with fuel savings. After crossing off all other factors, the fleet manager was finally able to prove that it was time to replace the aging truck.

Step 5: Reporting results with Quarterly Fuel Trends

The final step is to report fuel results. In order to report results, the fleet manager used a tool called Quarterly Fuel Trends.

Quarterly Fuel Trends summarizes fuel changes in each quarter. With this report, ABC’s fleet manager was able to prove that the fleet reduced fuel costs each quarter. Here comes the bonus cheques!

Interested in looking at fuel management systems for trucks? Click here for more info.

Links
Geotab: Fleet Savings Summary
Geotab: Last 3 Months Fuel Trend Report
Fuel Tracker
Geotab: Fuel Consumption Analysis
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 5.00 out of 5)
Loading...

You May Also Like…

5 Key Components of an Effective Fleet Management Strategy

5 Key Components of an Effective Fleet Management Strategy

In today’s fast-paced business landscape, the success of organizations relying on a fleet of vehicles hinges on the effectiveness of their fleet management strategy. Whether it’s a logistics company, a transportation service, or a construction firm, the ability to effectively manage and optimize a fleet is essential for maximizing operational efficiency, reducing costs, and ensuring customer satisfaction. To achieve these goals, organizations must develop and implement a robust fleet management strategy that encompasses five key components.

The Top Features to Look for in a Fuel Tracking System

The Top Features to Look for in a Fuel Tracking System

Fuel tracking systems have become an essential tool for fleet managers in recent years. By automating the process of tracking fuel consumption, these systems provide accurate and up-to-date information that can help businesses make data-driven decisions about how to optimize their fleet’s performance. However, with so many fuel tracking systems available on the market, it can be challenging to determine which one is right for your business.