You handle daily dispatching and maintenance with skill, but a good fleet manager also looks ahead. Therefore, they focus on bigger, less frequent tasks that improve your operation’s big-picture health. These semi-annual or annual reviews make a huge difference in your small or mid-sized fleet’s efficiency and bottom line. They are often overlooked when you are constantly managing the day-to-day work.

Analyzing Total Cost of Ownership (TCO)

Many new fleet professionals only track fuel and repair costs. However, a deeper look is necessary. You should calculate the Total Cost of Ownership (TCO) for every vehicle at least twice a year. TCO includes all costs, like depreciation, financing, insurance, and administrative time, besides basic maintenance and fuel. Consequently, you will discover the true cost of running each vehicle. For instance, a vehicle with low fuel costs might have surprisingly high maintenance expenses, revealing it is time to sell. Furthermore, comparing your vehicles’ TCO helps you plan for optimal replacement timing, saving significant money over the vehicle’s lifespan.

Conducting a Fleet Policy Audit

Fleet policies are critical for driver safety and compliance, yet they are easily forgotten once written. Therefore, you should conduct a thorough policy audit every six months. This involves reviewing your driver handbook, safety protocols, and accident procedures. Specifically, check if your policies align with the latest federal and state regulations and your current technology use. Furthermore, make sure to check for updates from the Federal Motor Carrier Safety Administration (FMCSA) to keep your fleet compliant. Because regulations change, an audit prevents costly fines and liability issues. Finally, use this opportunity to update your driver training materials, making sure every employee understands the rules.

Reviewing Telematics Data for Strategic Coaching

You likely review telematics data daily for immediate issues like harsh braking. Consequently, you need to use this same data for a broader, strategic coaching review twice per year. Therefore, look for fleet-wide trends in idling, speeding, and unauthorized vehicle use over a six-month period. Moreover, identify your top three areas for driver improvement and design a small group coaching session. This proactive, data-driven approach fosters a safety culture. Because you are using data for coaching and not just punishment, it greatly improves driver morale and performance. Telematics providers, such as Geotab, frequently publish insights on using data for strategic safety planning, which can guide your review (Geotab, Best Practices for Using Fleet Data).

Also read: A Beginner’s Guide to Heavy-Duty Fleet Financing