When you have a medium to large sized fleet, it’s sometimes hard to keep track of all of your assets over time. The last thing you want to do is pay for maintenance, insurance, and storage of large assets you don’t use. At the same time, overworking some assets may mean excess wear and tear or scheduling difficulties as some jobs have to be put off until the needed equipment is ready.
Rather than simply guessing which of your assets are in use, fleet asset utilization data offers you valuable insight into how your assets are used. This allows you to make the best decisions about which assets to sell and which to purchase. And it means less of your operating budget will be tied up in maintaining assets that are barely used or not necessary to your fleet at all.
While you never want to have too many assets sitting around, you also don’t want to have every asset in the field all the time. This allows you no wiggle room for repairs, maintenance, or growth. Instead, you want to ensure that you have enough assets to cover all of your jobs without overusing any of them.
Fleet Asset Utilization Data to Track
It’s not too difficult to simply see which large assets are never used, even without the help of telematics and other fleet tracking tools. But it’s a little more complicated to determine which are underused or overused.
In addition to simply learning which assets are ever used at all, you should consider tracking a few other metrics. Look into the following:
- Arrival and leave time of assets
- Travel time
- Equipment use/ engine run time
- Idle time
- Maintenance events and time
If you have several of an asset and they’re each being used only about a third of the time, you can look into selling some and having the others take up the slack.
Even when asset utilization is sufficient to justify keeping all of your assets, this data will allow you to allocate assets more evenly to minimize wear and tear on each of them. If one of two identical assets is being used all the time and the other only when the first is already in the field, you should consider a rotating schedule instead.
Azuga Can Help
When you want to get the most out of each of your assets, accurate data is your best tool. Azuga’s asset tracking system is an excellent way to ensure you get the best quality data with actionable insights. And you can use it to track more than just trucks and other vehicles.
Our asset trackers are available for both powered and unpowered large assets. This means you can track construction equipment, dumpsters, pumps, generators, and almost anything else you need to track.
Want to learn more? Schedule a quick asset tracking software demo to see how our trackers can fit into your fleet operations. You’ll learn about our web-based portal, customizations, detailed reports, and the many benefits Azuga asset tracking can offer.