As technology advances and new regulations arise, fleet managers are seeking solutions that allow them to adapt with the times. Many are finding they need to examine different solutions as telematics technology evolves and offers new capabilities. The March Food Logistics explores the telematics solutions companies are using to manage fleets more efficiently while complying with new regulations.
One of the newer fleet management tools is analytics, the application of advanced analysis of data to determine patterns and predict outcomes. Many of the newer electronic logging devices (ELDs) provide analytics capabilities that offer insight into driver safety and compliance.
According to Frost & Sullivan, the San Antonio, Texas-based consulting firm, every dollar spent on advanced analytics delivers an eight to 11 times return on investment and a restructuring of total cost of ownership (TCO) of trucks that yields a 2 to 3 percent reduction in TCO per vehicle per year.
Fleet managers will become more familiar with analytic tools as they begin to comply with the ELD mandate.
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