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7 Ways Connectivity is Transforming the Fleet Management Industry

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25 June 2021

7 Ways Connectivity is Transforming the Fleet Management Industry

Over the years, the advancement of technology and the digital revolution has led to unlimited possibilities, both in terms of acquisition and retention of assets, as well as their maintenance and management, leading to smart transformation for the logistics industry.With the Internet of Things (IoT), fleet asset managementis now automated, becoming easier, more efficient, and economical than ever before.

As the role of an asset management consultant or fleet manager has evolved,more businesses are finding value in integrating digital processes that remove inefficient manual tasks, provide a platform to record and access all information related to the fleet, and streamline activities.

What is Fleet Asset Management?

Similar to other asset management services, fleet management comprises a series of processes that allow organisations to see and manage all the information associated with their fleets and vehicles.Fleet asset management is done for better asset utilisation, improving maintenance planning, and managingthe cost of ownership.

How Digital Fleet Asset Management Works

A connected IoT-based fleet management system comprises of interconnected computing devices, each with its own unique identifier, and the ability to transmit data over the network with automation.These IoT-based devices are then used to capture parameters such as distracted driver behaviour, engine idling time, speeding, average time on site, unscheduled maintenance, etc.

Relevant data is collected by vehicle sensors, which is sent to a web server, along with the speed, location, direction, and other variables of the vehicle, and then compiled. Reports and warnings made using this data are then sent to the driver or the supervisor for effective fleet management. Effective monitoring and analysis of the data gathered by an IoT-based system can help asset management consultants monitor fuel consumption, load carried, temperature, and more.

Features of Connected Fleet and Asset Management Services

1 Remote Monitoring

Digital fleet management involves the use of telematics to monitor the safety of vehicles and drivers and ensure the timely delivery of goods, remotely. This means that the location and movement of assets can be monitored by an asset management group in Dubai, regardless of where the assets are.

2 Maintenance Planning

A digitised schedule helps ensure vehicles receive routine maintenance along with offering end-to-end tracking of all maintenance activities, which reduces vehicle downtime and maintenance costs.

3 DVIR

Digital Vehicle Inspection Reports (DVIR) enable drivers to report vehicle and maintenance issues quickly, and fleet managers to spot and remedy excessive wear and tear before it becomes a major issue.

4 Cost Optimisation

Smart fleet asset management includes the utilisation of operating methods that save time, are efficient, and allow for effective communication with personnel in real-time for feedback and training.

5 Driver Safety

One of the most important features of smart IoT-based fleet asset management systems is their ability to get real-time driver behaviour data, to help and identify high-risk situations.

6 Cost-Effective Fleet Retirement

Fleet retirement recommendations based on comprehensive parameters such as encompassing usage history, present condition, and more.

7 Cleaner & Greener Operations

As mentioned above, digital fleet management systems help identify excessive idling and speeding moments, which not only waste fuel but also incur unnecessary losses. These instances can be easily discovered through automatic alerts to ensure necessary moves are taken to reduce loss.

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