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6 Key Performance Indicators (KPIs) for your fleet

posted on 01/08/2023
  • Overview
  • 6 KPIs for your fleet
  • How can Alphabet help?

Key performance indicators (KPIs) are a fundamental aspect of measuring how any part of your business is performing against its goals. And that’s just as true when it comes to the efficiency of your fleet.

As someone responsible for managing your fleet, you should have KPIs in place for your vehicles, drivers, and operations to measure how effective your fleet is. But where do you start?

Here are six KPIs your fleet should be tracking

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1. Vehicle utilisation

Without a clear view of utilisation rates, you can’t be certain which vehicles are being underused or if you need to purchase more to meet demand. You can easily calculate your fleet utilisation by dividing the actual usage hours or miles by the available hours or miles over a specific period to give you this visibility.

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2. Fuel efficiency

Keeping track of fuel consumption enables you to calculate the average fuel efficiency of your fleet. You can then identify which vehicles are less efficient and investigate whether this is due to slower routes, wasteful use, or another reason – and take appropriate measures to improve this.

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3. Maintenance costs

Tracking and analysing maintenance and repair costs is integral part of forming your budget for the year ahead. And by setting a benchmark (or KPI) for these expenses associated with the vehicles’ upkeep, you can identify opportunities to make savings by proactively improving maintenance processes.

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4. Vehicle downtime

Whenever a vehicle is out of service for long periods, that downtime can cost your company dearly. It can create an unwanted bottleneck in scheduling work and potentially offset any savings or profit you might be making. That’s why measuring vehicle downtime is a crucial KPI. It helps you spot trends, so you can implement strategies to increase the time your vehicles are on the road.

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5. Driver performance

Safety is paramount. So, monitoring driver safety is key to ensure a safer working environment and mitigate the risk of accidents. Your KPI for driver performance can include tracking metrics such as number of accidents, incidents of unsafe driving such as speeding, and driving compliance with safety protocols.

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6. Customer satisfaction

When you’re delivering a service, assessing how well your fleet is meeting customer expectations is central to improving operations. Start by asking for feedback through surveys or other satisfaction tools. Track the responses which in turn will help to inform your KPI. Then, you can work towards achieving higher customer satisfaction levels.

How Alphabet can help

As a strategic partner, we can provide expert consultancy tailored to your unique fleet needs. With our vast experience in fleet management, we’ll help you develop a robust set of KPIs to make your operations the best they can be.

Ready to develop KPIs that optimise your fleet’s performance? Go a step further by checking them with our experts. Together, we can build a set of metrics that drives efficiency, saves costs, and prepares your fleet for a successful future.

Get in touch with us on 01252 976 010 or SME@alphabetcorporatesupport.co.uk today.

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