Fleet Technology To Reach Higher Heights – Is GPS Tracking The Reason?

The global inflation rate has made every mechanical or auto-mechanical process expensive. It has greatly impacted the freight service rates. However, modifying fleet management while maintaining profitability is a challenge for the present-day sectors.

The introduction of GPS tracking solutions is helping sectors like equipment distributors face inflation and continue doing business. From the invention till now automation has the main purpose of satisfying diverse clientele on behalf of businesses. Especially when the goal is to retain old customers and gain the trust of newer ones while juggling the sharp price increment.

GPS tracking solution effectively helps the driver to reach the location timely while fostering open clientele communication. However, the challenging time demands the fleet management services to emphasize certain factors.

Efficacy

The last two decades were fruitful for consumers as the fleet inflation rate was less than 3%. But in 2021 it rose to 3.6% and hit a shocking hike of 6.2% in 2022 according to the recent fleet management survey. Despite price stability in 2023, the challenge to cut down prices, be market competitive, and increase revenues remains the same as fleet management systems.

Integrating automation within manual fleet technology is one of the most efficient methods to increase operational efficacy. Similarly, automation also helps streamline the operations.

In addition, the usage of maps and advanced routing further decreases the delivery time and allows the operators to perform more. This helps the operator to multi-task within one day further improving day-to-day productivity.

According to a technology trends survey by Bobit Business Media, a U.S. leading trade publication, when it comes to the delivery of heavy-moving machinery with GPS tracking, an increase from 46% to 50% is seen in 2022 and 2023 respectively.

Increased fleet efficacy rate in heavy-moving machinery services after the integration of GPS tracking reported by current U.S. technology trends survey

Aftercare

The construction industry is currently facing great strain in the availability of vehicle parts and other attachments.

Therefore, keeping a check on the maintenance of heavy equipment may become hard for heavy equipment suppliers.

From downtime prevention to cutting down repair costs and preventing TCO from getting out of control as the vehicle ages, GPS tracking provides complete aftercare solutions.

According to a technology trends survey by Bobit Business Media from 44% to 47% increment is seen in aftercare service after the installation of the GPS tracking system in 2022 and 2023 respectively.

Increased aftercare services after the integration of GPS tracking in 2022 and 2023 reported by current U.S. technology trends survey

Acquisitional Ease

Do you know that the increasing inflation is affecting nearly all vehicles, line management, and human resources? Well, the answer is yes, and it’s to an alarming extent that requires fleet management systems to be creative with their solutions.

The acquisitional cost affects the effectiveness and fuel costs of freight services. Therefore, the integration of GPS tracking greatly helps fleet services to decrease the miles coerced by the drivers.

Furthermore, GPS tracking also decreases unnecessary fuel consumption while designating drivers with more stops to cover in a day. Significant acquisitional ease recorded in the technology trends survey by Bobit Business Media from 42% to 47% is seen after the installation of GPS in 2022 and 2023 respectively

More common benefits of GPS tracking in terms of acquisitional and fuel commotion include; 

• Reduction of fuel budget
• Save delivery of heavy moving machinery 
• Eco-friendly contribution
• Reduction of car idling
• Catching fuel fraud 
• Aiding vehicle maintenance 
• Apt location of gas guzzlers in the fleet 

Ultimately, GPS tracking allows easy routing and enhancement of routine fleet services. 

Increased acquisitional ease in carrying heavy-moving machinery after the integration of GPS tracking was reported by current U.S. technology trends survey

What’s Ahead?

The current era of rising expenses demands freight and fleet management services to opt for smart systems to survive inflation.

However, to reduce costs and beat the inflation rate, the inclusion of technology in fleet management is an effective approach to helping operators make the most out of limited resources.

The integration of a GPS tracking solution is one good way that is impacting positively in terms of easing fleet operations. Moreover, according to APM’s survey, 2024 will witness a 55% increased efficacy rate, a 49% improved aftercare ratio, and a 44% stable routing rate due to the GPS tracking system.

From fastening the services to improving customer relations to fuel saving to route optimization, GPS is one solid technology to produce higher revenue at lower costs.

About MY-Equipment 

MY-Equipment is a leading Houston-based used heavy equipment selling company. The company deals in providing quality used heavy equipment from famous manufacturers like Caterpillar, Dynapac, Tadano, and many more. The company also offers dismantling, inspection, and hustle-free shipping services to cater to its diverse clientele and build a sustainable relationship with buyers as a certified used equipment seller.