The biggest challenge involved in fleet management is ensuring the safety of the vehicle drivers. Effective implementation of the IoT technology helps in monitoring and enforcing safe behaviour. The vehicle drivers who are violating guidelines around rest and fatigue can be monitored and the systems can ensure they take the necessary breaks.
The drivers’ time is one of the greatest costs and assets in fleet management services. With the IoT technology, critical activities like refuelling, reporting, routing, automatic data entry and form filling will be streamlined. Thus, automating data collection will improve drivers’ productivity and save their time.
Can we achieve more with less? This is something which goes beyond the fleet management responsibilities. Using IoT powered fleet management tools for preventive maintenance of vehicles and monitoring engine performance will reduce the operational cost by a considerably big margin.
Oscillating fuel prices at global level is a major challenge for fleet management companies. A web of connected networks will help in forecasting the fluctuating fuel prices in real-time. Companies operating large fleets spend more than 30% of the total expenses only on fuel in this business. Thus, monitoring the fuel prices will assist in fuel price predictions so efforts can be made to reduce the overall fuel consumption as and when needed.
For eliminating fuel wastage and reducing consumption, a proper monitoring system needs to be installed in the vehicles. Fuel consumption data for every mile covered must be tracked which will be used for getting rid of fuel theft, accidental spillage, and inefficient driving.
Collecting and monitoring the data about fuel usage in real-time with utmost accuracy is possible with IoT technology. Big players in the fleet management services are investing heavily to get benefits from this technology.