“I believe we will see the trend towards predictive analytics continue in 2014,” said Steve Jastrow, Strategic Consulting Services Manager at GE Capital Fleet Services. “As we continue to launch new products and services that deliver incremental cost and productivity savings for our customers, capturing data from those programs will continue to give us insight and will allow us to further refine fleet performance.”
The largest areas of cost savings identified by GE Capital Fleet Services during 2013 were:
- Program Enhancements: Utilizing products and services to properly manage time and expenses including; maintenance, fuel, accident and safety costs, telematics, licensing and registration fees, and toll & violation expenses
- Accelerated and Optimal Replacement: Determining the optimal time to cycle vehicles and/or utilizing a short-cycle replacement strategy to decrease vehicle depreciation and capitalize on higher value at auction
- Lease Versus Reimbursement: Identifying cost-cutting opportunities to convert companies’ driver reimbursement programs into vehicle leasing programs
- Lease Versus Purchase: Determining whether leasing or owning vehicles is the most cost efficient way to manage a specific company’s fleet
- Right Sizing: Evaluating fleet needs and vehicle usage requirements to maintain a fleet that maximizes fuel cost savings while minimizing maintenance costs and deploying vehicles that better meet driver needs.
“As fleet costs remain a critical component of companies’ operating budget, fleet managers continue to be responsible for cutting costs while maintaining seamless logistics and operations,” Ken Johnson, Managing Director Strategic Consulting and Fleet Management Solutions at GE Capital Fleet Services. “We strive to provide our customers cutting-edge products paired with strategic know-how that allows them to achieve optimal return on their fleet investments.”
