Tag Archive for: skills

Fuel Management Systems Market to Reach $654.6 Million by 2024

Fuel management systems are used for the maintenance, monitoring, and control of fuel consumption in industries that use various modes of transport, such as road, rail, air, and water, for commercial purposes.

The fuel management system’s purpose is to reduce the consumption of fuel and to improve the efficiency of operations. It uses a variety of technologies and methods for keeping track of fuel inventories, purchases made, and fuel dispensed. 

Computerized systems are used for storing data, which can be used for generating reports and for further analysis. The systems also help in controlling errors in fluid dispensing from fuel tanks into vehicles which provides important information about any leaks.

The numerous benefits offered by fuel management systems, including monitoring fuel usage and dispensing to reduce loss and theft, improved efficiency of operations, increase in overall productivity, and reduced risk of errors due to automation of tasks, continue to fuel adoption of the systems in various end-use industries.

The global market for fuel management systems is projected to reach US$654.6 Million by 2024, registering a compounded annual growth rate (CAGR) of 5.8% over the analysis period. The United States represents the largest regional market for fuel management systems, accounting for an estimated 40.3% share of the global total. The market is projected to reach US$273.9 Million by 2025. 

The significant developments in transportation infrastructure space and the escalating demand from logistics, mining, and construction sectors are fueling growth in the fuel management systems market. The market is also expected to benefit from the growth of the automobile industry worldwide and the continuous increase in the number of fuel stations in operation. 

Since fuel represents a significant proportion of operating costs in the transportation sector the need to prevent fuel pilferage is extremely important, thus driving the adoption of fuel management systems. With fuel accounting for around 40% of the overall operating costs of fleets, fuel losses can cause significant financial losses. Fuel management systems also play a role in reducing errors that are possible during manual fueling. 

The fuel management systems market is also benefiting from the increasing adoption of cloud-based solutions. With cloud computing becoming an increasingly viable option for data management and data storage, its role in fuel management is also growing.

As you can see, technology plays a crucial role in almost every money-saving tactic and strategy discussed above. If you’re looking for a fuel management partner that can help you reduce your fleet’s expenses, contact us.

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Equipment finance industry confidence improves in July

The Equipment Leasing & Finance Foundation released the July 2021 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $900 billion equipment finance sector. Overall, confidence in the equipment finance market is 72.9, an increase from the June index of 71.3.

Some of the results are: 
  • When asked to assess their business conditions over the next four months, 58.6% of executives responding said they believe business conditions will improve over the next four months, up from 42.3% in June. 41.4% believe business conditions will remain the same over the next four months, down from 57.7% the previous month. None believe business conditions will worsen, unchanged from June.

 

  • 55.2% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, up from 51.9% in June. 41.4% believe demand will “remain the same” during the same four-month time period, a decrease from 48.2% the previous month. 3.5% believe demand will decline, up from none in June.

 

  • 27.6% of the leadership evaluate the current U.S. economy as “excellent,” an increase from 22.2% the previous month. 72.4% of the leadership evaluate the current U.S. economy as “fair,” down from 77.8% in June. None evaluate it as “poor,” unchanged from last month.

 

  • 48.3% of the survey respondents believe that U.S. economic conditions will get “better” over the next six months, a decrease from 51.9% in June. 51.7% indicate they believe the U.S. economy will “stay the same” over the next six months, an increase from 48.2% last month. None believe economic conditions in the U.S. will worsen over the next six months, unchanged from the previous month.
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5 ways to enhance fleet efficiency

Fleet management is a task that initially may seem easy, but in practice, it presents great complexity. Good fleet management is not only related to taking care of the entry and exit of vehicles. Good fleet management must understand the entire operation, maximizing the availability of vehicles to perform services, reducing costs with tires, fines, maintenance, fuel, and ensuring driver satisfaction.

It is a strategic activity for fleet companies and, therefore, it needs to achieve good results to ensure the company’s competitiveness and the quality of the service provided. However, with so many processes and information to deal with, how to organize fleet management to make it more efficient?

This is a big challenge for the manager and we are going to present 5 tips here that can help you with this task.

Train the drivers

Drivers have a huge role to play in fleet operations. Driver training is a popular practice adopted by companies around the world to improve efficiency. It ensures that a driver is fully capable enough to handle all kinds of situations while driving. 

With a well-trained and experienced workforce, businesses can save a lot of expense. It includes fuel costs and vehicle maintenance charges. In addition to that, a skillful driver can avoid accidents, saving companies from a lot of operational and financial problems.

Improve Fuel Management

The tracking solutions offer an excellent fuel management feature that caters to all the fueling needs. It monitors the fuel levels of the vehicles in real-time, providing useful insights about consumption trends. Also, companies that manage the cost of fuel well spend up to 30% less than companies that do not control the expense.

Use Mobile Application

It is essential to stay connected to the team all the time. The managers should be aware of the operations whether they are in the office or not. To monitor operations on the go, a mobile app can be used. With the help of the app, they can have all the main features of the management software on their mobile device. It helps the managers to keep doing their job from any remote location, ensuring smooth operational flow.

Keep Vehicles Well Maintained

Along with your drivers, your vehicles are your most important asset. Keeping them well maintained and regularly serviced prolongs their useful life and helps avoid expensive downtime. Having all the data at your fingertips lets you keep close control over their condition, allowing faults to be dealt with before they become major issues.

Improve Team Communications

Your fleet drivers are an invaluable asset, so treat them with respect and keep them fully informed. In addition to regular training, it’s important to give them the necessary information to do their work to the very best of their abilities.

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How to Improve Efficiency With Fuel Tracking Technology

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How to save fuel is a very common question among people who own vehicles. Among fleet managers, therefore, knowing how to answer this question is essential for the success of the business.

That’s because, when monitoring the expenses of a field operation and accounting for everything that goes in and out, the percentage that the cost of fuel represents is surprising.

For example, did you know that annual fuel costs can represent 15% to 20% of the cost of a vehicle? The amount spent per year is second only to the cost of the vehicles. 

So, how can fleet managers get more control over fuel costs when prices are unpredictable? Not knowing these details can bring many losses, such as a fleet that uses more fuel than it should and vehicles being stopped for more frequent repairs.

Companies that manage the cost of fuel well spend up to 30% less than companies that do not control the expense. Which one is yours? 

But how can Fuel Tracking Technology help you save fuel?
  • Reduce engine idle time
  • Have better control of the routes taken by vehicles
  • Know how efficient drivers are being
  • Create the best routes for vehicles

According to the U.S. Department of Energy, idling a heavy-duty truck uses up about 0.8 gallons of fuel per hour. Trucks usually idle for about 1,800 hours a year, which uses about 1,500 gallons of fuel. Overall, idling costs the U.S. about $3 billion annually.

You can monitor idling time and fuel usage with tracking technology and ask drivers to consider how they can reduce idling without sacrificing comfort, safety, or productivity.

Also, overspeeding or driving beyond speed limits consumes more fuel. However, a fuel management plan is a right way of ensuring you aren’t using up a lot of fuel.

Fuel planning includes key metrics such as fuel tendency, chances of fuel reduction, and permitted fuel card usage. The plan can be used to determine vehicle fuel usage and fuel card transaction information.

If you want to learn more about our solution and are looking for alternatives to improve the bottom line and productivity, please, get in touch.

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How Often Should You Conduct Safety Training?

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Companies that value well-trained employees often have ongoing training programs in place. Ongoing does not mean continuous, so how often should you provide ongoing training to employees?

Certain safety training topics have to be refreshed or retrained on a set schedule. In most cases, safety or other training courses that result in or require certification will only be valid for a certain length of time before retraining is required. It is always a good idea to take note of what safety training expires and when so that you can ensure that all employees are properly trained and certified.

When you first train a new employee, they will take security messages seriously, but without any follow-up training, they will probably incorporate some unsafe habits. That puts you, them, and everyone on the road with them at risk. You need to make safety training a regular part of driving for your company.

If you want to protect your people and reduce accidents, safety training must be a continuous process. It’s not just an onboarding event.

An effective safety training program:

  • Uses monthly safety meetings to reduce your biggest loss-leaders
  • Delivers important safety messages daily
  • Features larger training events throughout the year

Organize monthly safety meetings to reduce your biggest loss leaders. Make safety training a part of everyday work life with daily safety tips and briefings to start the day. Host larger training events a few times a year to dig into complex safety issues.

Preventive training aims precisely at correcting bad behaviors, conscious or not, that lead to risk. And it is not just the company that has had a serious or fatal accident that should seek training – ideally, the risk is identified to avoid the accident.

This is where the safety culture comes in: a set of good practices that are shared with employees. Uniform training and guidance among those responsible for work safety and drivers help foster this type of culture.

More than that, training manages to put the risky habits into context, making the act of driving more conscious than unconscious – that is, avoiding recklessness and distraction.

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5 qualities that make a good leader

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“A leader knows the way, goes the way, and shows the way.” This is how John C. Maxwell defines leadership. Having the right people in leadership positions is essential to success and employee retention. Surveys have shown that one of the top reasons employees leave their job is because of a bad boss.

To have a successful business, you want to have the best team at your side. But when you invest in the training and development of your employees, the goal is that you can keep the level of turnover low.

That’s why we are sharing some qualities that make a good leader so that you can evaluate your leadership and improve. 

01 – Aspiration and enthusiasm

It doesn’t matter if the desire is to increase the company’s online presence or conquer international markets, what separates good leaders from the best leaders is aspiration and enthusiasm. The big winners in the business world share the ability to develop bold strategies and the ethics to put them into practice. Successful leaders also inspire their teams to go beyond the day-to-day reality and work to achieve their best. Their sense of ambition is stronger than the fear of failure and it helps them to turn things around.

02 – Resilience

Sometimes, just striving for business goals can lead to failure. Self-confidence and ambition are not enough to withstand market challenges or to eliminate mistakes made in the past. Great leaders are incredibly resilient – they can turn a disaster into a victory in the last hour. This talent to recover when everything seems lost is a powerful quality in the long run.

3 – Empathy

The best bosses know that relationships are vital to their business trajectory and always exercise their emotional intelligence. They know how to empathize with their customers and teams and are always prepared to help or even to back off. In the view of a great leader, empathy does not diminish the value of the business – it adds value and helps it to grow. This attribute strengthens ties of loyalty and can stimulate partnerships.

04 – Creativity

To achieve goals, it is often necessary to set aside the rules and redefine established practices. The most powerful leaders innovate tirelessly and foster a culture of creativity, empowering their teams to follow suit.

05 – Feedbacks

For the “gear” of the system to function correctly and always keep moving, periodic meetings with the team must be held. In this way, the leader can offer feedback on the activities performed and the development of each of the professionals within the company. This is one of the best strategies to ensure that work remains aligned with the pace of production.

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What to expect at World of Concrete 2021

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World of Concrete has been serving the global concrete & masonry construction industries for 46 years. The event connects and educates buyers and sellers through live and digital events throughout the year. 

The face-to-face event normally takes place every January or February in Las Vegas. This year the World of Concrete Las Vegas was rescheduled to take place on June 8 – 10. 

“Moving the event from winter to late spring in 2021 will allow additional outdoor activities that everyone can enjoy in the big city of Las Vegas,” says Jackie James, director of World of Concrete Group.

Drawing record numbers year after year, the 2021 World of Concrete, sometimes referred to as the Concrete Convention Las Vegas will feature a week of exciting new products, cutting-edge technologies, the latest equipment, exciting spectator events and competitions, and more than 150 educational sessions including luncheons, interactive workshops, and industry hands-on training.

Important! There will be no onsite registration this year due to new COVID safety protocols. You must register online before coming to the show.

With a detailed set of measures developed collaboratively with industry associations, event organizers, and venues, World of Concrete aims to deliver the highest levels of hygiene and safety at its event, providing everyone with reassurance and confidence they are participating in a safe and controlled environment. 

They recommend that every attendee read the safety requirements needed to enter the event, along with safety and hygiene measures guests can expect.

Early this year Link2Pump was part of World of Concrete Virtual Industry Forum. Over 300 industry professionals attended our VP of Sales session on how to reduce fleet costs by managing and claiming fuel tax rebates. Concrete producers and contractors can secure significant federal and state tax rebates for the fuel not used for on-highway activities, on average about 60 cents per gallon.

Have you already scheduled to go to the event this year?

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Tools you must have for contractor fleet management

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Fleet management is a complex activity. It involves legal obligations, costs, payment of fines, expenses with maintenance, purchase, team management, and much more. If you need to be more efficient, you should have softwares and technologies that will help you with these tasks. With the right tools in place, you can save time and money. Also, if you choose cloud-based software, you can manage from anywhere on any device!

Fleet Maintenance Software

A fleet maintenance software will help you avoid unexpected fleet vehicle and equipment breakdowns. You can track your vehicles and assets data to maximize value and minimize costs. With cloud data storage, you can manage vehicle information and track vehicle maintenance history from anywhere. Preventive maintenance schedules will also help you save time and money. 

GPS Tracking Software

GPS can be very helpful in a fleet management system. A good GPS tool can help increase the productivity of drivers, speed delivery times, bring efficiency levels high, and give businesses a pool of data that they can study to ensure operations are in best shape. GPS-based fleets are two times more successful than those without.

When you save time, you increase your productivity. Instead of drivers spending time waiting for traffic to move, they can, for example, make multiple deliveries. Not only will your customers be happy with the fast service, but your drivers and employees will be able to get more work done, saving you both labor and transport time.

Fuel Management Solution

With automated supply, the logistics become much more agile: times are shortened and you no longer depend on external factors that reduce business efficiency. In addition to being able to be placed in strategic locations, a fuel management solution allows the entire fueling process, including vehicle identification and odometer reading, to be completed very quickly.

The main advantages of installing your own fueling point are:

  • Fuel quality assurance, reducing the risk of fraud and ensuring that the entire fleet can have the same performance;
  • Elimination of the costs of moving machinery/vehicles to the gas station;
  • Practicality and speed of supply, since it will have the availability of supply 24 hours;
  • Fuel tax refund; 
  • Centralization and rationalization of consumption control.

Technology is a very important part of the fleet industry. If you are looking for a fuel management partner that is a complete high-tech solution to control commercial fleets fueling, contact us.

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5 tips for fleet equipment maintenance management

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Fleet maintenance is the process of keeping your vehicles operating in a good enough condition so that they are safe, reliable, and can stay on the road longer. Developing a preventative maintenance program is an important part of managing a fleet and helps businesses reduce operating costs and improve vehicle inspection outcomes, among other benefits.

Without a proactive approach to fleet maintenance, you risk compromising your employees’ safety and paying for costly emergency repairs and unplanned downtime. That’s why the health of your vehicles is a good overall indicator of the health of your business.

1 – Preventive maintenance

There are three types of fleet maintenance:

Corrective maintenance: Made when the defect has worsened and needs repairs, and aims to restore the vehicle’s normal use condition;

Predictive maintenance: The purpose of predictive maintenance, as the name suggests, is to predict when a failure may occur, based on wear, vibration, noise, heating, or other indicators, depending on the type of equipment, machine or vehicle in question, this avoids unnecessary downtime and breaks that would harm productivity;

Preventive maintenance: This type of maintenance aims to reduce excessive expenses with the fleet, as it is based on scheduling stops in advance for adjustments, lubrication, and replacement of components. Its cost is usually between 30% to 40% lower than the other modalities, in addition to increasing the time between maintenance, increasing safety, and reducing the probability of problems on the road.

To use these benefits, it is necessary to draw up a maintenance plan: in an agenda, or a fleet management software, point out which vehicles and components will be overhauled and the respective dates. Do it in a way that meets the need for maintenance of each type of vehicle, in addition to not leaving the fleet without enough units to operate and meet the demand of the company and its customers.

2 – Know the vehicles of your fleet

Know all the specifications of each vehicle in the fleet, this will help to structure the fleet maintenance plan mentioned above, as you will know the ideal parts, the exact moment, and how to maintain each one. Some of the most important information about each vehicle is:

  • maintenance recommended by the manufacturer;
  • frequency of filter and lubricant changes;
  • performance characteristics and load capacity;
  • wear ratio per load weight;
  • characteristics of your travel routes, such as roads in poor condition.
3 – Get qualified labor for fleet maintenance

As important for companies as investing in good quality vehicles, tires, parts, and components, the investment made must be preserved through the use of qualified labor for its driving and maintenance. 

The more specialized and competent the mechanic, the higher the quality of the maintenance provided, which will result in savings in maintenance, longer life of the truck, fewer stops due to breakages, and consequently, profitability on the fleet will be higher.

Besides, hire conscientious and responsible professionals who know how to take proper care when driving the vehicle, this helps to reduce wear and prevent possible accidents.

4 – Invest in fleet management and maintenance software

The use of fleet control spreadsheets, parts stock control spreadsheets, and maintenance control spreadsheets, in general, is often quite complicated and unreliable, in addition to the fact that preparing and feeding these documents is time-consuming for employees. Also, an ineffective control causes unnecessary parts to be purchased, maintenance periods go out of control, mathematical failures occur, data may be lost, among other problems.

These complications can be overcome with the simple implementation of fleet management and maintenance software, the program automates the entire bureaucratic process, issues maintenance alerts according to the launched fleet maintenance plans, issues more detailed and comprehensive reports, help to eliminate human error, reduces the need for typing and rework and allows employees to spend more time on their core activities.

With Link2Pump you can take control over everything related to fueling, improving delivery planning and fuel distribution, and also with a lifetime warranty. We offer a hassle-free parts replacement policy, where servicing is simple and easy and can be done quickly by the customer, reducing downtime to a minimum. 

5 – Track equipment maintenance expenses

A good fleet manager knows how to work together with the financial sector and the company management to create a budget plan that will allow you to define the limits of each type of spending on your fleet, so that on a day-to-day basis you can identify possible deviations and excesses, and work to heal them, preventing them from compromising the company’s profitability.

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What skills will a future fleet manager need?

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Fleet management is a very important part of modern business. Companies in many industries rely on fleet vehicles to deliver products and services to customers, and those fleets must be properly and efficiently managed.

Fleet managers are responsible for selecting and maintaining vehicles to keep deliveries and distributions on schedule and within established budgets. To succeed, fleet managers need significant experience and skills in operations, logistics, and software programs to monitor both fleets and drivers.

With such a rapid transformation in business, it is easy to think that whoever is in the market today does not need to do anything to prepare for the future. But that is not true. Fleet managers can start preparing now for the future that is increasingly present!

So, here are five skills fleet managers can start building today, to prepare themselves for tomorrow. 

1 – Data-driven 

Most managers are already aware of this need and deal with it daily. They know they need to make choices and decisions based on statistics about vehicle usage, route efficiency, fuel economy, and so on. But it is necessary to go further. You also need to understand how the general data is offered and find out how to make your fleet even smarter.

2 – Software integration 

You don’t need to know everything about programming, but you do need to know what to ask for your IT and development team. You have to understand what these people do and what they can deliver to make your work more efficient. Integrated software and systems provide a very accurate summary of everything you need to know. Much better than joining the parts manually.

3 – Adaptability

If there is a sector in which things go very fast, it is ours! We have changes in technology and even legislation very often, so it is necessary to adopt flexible working methodologies. You need to be aware of the changes, understand how they will affect your fleet, and find the best ways to deal with them.

4 – Performance optimization

Markets that have already gone through the digitization process are already used to using tests and development methods to find possibilities for optimization, which can then be implemented in the entire business.

With vehicles traveling thousands of kilometers a week, fleet managers need to test different fuels, lubricants, driving techniques, and other variables to continually optimize their fleet.

5 – Goal driven 

Successful people do not give up but keep trying new ways until their goals are met. To be goal-driven and become successful requires at least two components namely preparation and motivation.

In preparation, you should be aware of the tasks ahead to be undertaken, and establish time-saving mechanisms to efficiently utilize your time. Be motivated and keep a track of your progress, it might be necessary to reassign time to tasks so that they do not build upon you.

Again, technology is a very important part of the fleet industry. If you are looking for a fuel management partner that is a complete high-tech solution to control commercial fleets fueling, contact us. 

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