With clear visibility and monitoring of assets, plant & machinery hire businesses can ensure that their fleet offering is always the right fit for their customers’ needs.
What is asset utilisation?
Asset utilisation is the process of measuring the performance and use of site machinery. Knowing how your assets are used—or not used—enables you to make informed decisions about your fleet. A fleet offering that matches customer needs means better customer service, reduced costs, and improved asset productivity across the board.
Understanding asset utilisation can help you shape your fleet by:
How can I keep track of what my assets are up to?
GPS trackers, as part of a full GPS solution, can provide customised reports that tell you exactly when assets are in use. Location, duration, speed… these details and more can all be captured through an innovative GPS fleet management solution.
Knowledge is power. The more you know about how your fleet is being used, the more competitive your business can be. Engine hour reports, trip reports and geo-fencing alerts are just some features of a GPS fleet management solution that can help you to make decisions about your fleet with confidence.
Implementing a GPS fleet management solution can help you:
- analyse usage trends so you can predict and plan for future asset demand and improve asset allocation across jobs
- generate revenue by ensuring all assets are optimally utilised
- capture lost revenue by confidently billing for unapproved asset usage
- minimise operating expenses by reducing asset downtime, re-evaluating underused assets, and easily tracking asset depreciation
Success in this industry will be reserved for those plant & machinery hire businesses who listen to their customers, who understand how their assets are being utilised and who respond accordingly—right-sizing their fleet based on data and facts. Partnering with the right GPS fleet management solution provider can help you ensure you’re getting the best return on your investments by delivering full visibility over your assets.
To learn more, read our blog post “Introduction to monitoring engine hours” to see how it can protect your investments, or give our team at Connect Fleet a call on 1300 735 797 to discover more about asset utilisation – we’d love to talk through any questions you may have.