The move to using Electronic Logging Devices (ELDs) may have been challenging at the outset, but fleets both big and small are slowly starting to comprehend the power of the data being collected -- and, it’s ability to improve the efficiency of operations in more ways than one. But, with the overwhelming amount of information being collected, how do you know which data to actually analyze and how to leverage that information to your fleet’s best advantage?
Let’s look at the following three categories of data to examine the different efficiency, safety, compliance and other trucking Key Performing Indicators or KPIs that every fleet should be monitoring:
Safety KPIsMost safety KPIs are driven by driver behavior. Fleets that collect, monitor, and then use this data for driver trainer are in the best position to improve in this department. Here are some safety KPIs we recommend tracking:
- Speeding instances
- Over-acceleration and braking incidents
- Corner-handling incidents
Managers can get all this data in real time so that they can act and plan as events happen, train drivers on the skills they need to do their jobs better, and also publish weekly driver safety scorecards so that all drivers know where they stand.
The big efficiency KPIs that we think can help fleets move forward in their growth goals revolve around fuel usage and maintenance data:
- Fuel economy
- Idling time
- Deadhead or empty miles
- Fleet asset utilization
Driver behavior such as speeding, last minute braking, and idling uses up more fuel. It also increases the amount of wear and tear on trucks, thus increasing maintenance costs.
Additionally, by seeing how their assets are being used on a daily basis, fleets can potentially decrease the number of vehicles they have, thus reducing variable costs like fuel, maintenance, insurance, and the like.
The ELD mandate’s main objective was to monitor hours of service (HOS). And, the great thing about ELD’s is that dispatchers can monitor HOS in real time.
Here are some KPIs you can track to ensure your fleet is in full compliance with FMCSA rules:
- Available HOS
- HOS violations
- Unassigned mileage by vehicle
Track all your violations and be sure to capture all your driving time in case of a DOT audit.
Your ELD platform can create pre-configured reports for you, thus making reporting straightforward and more automated. Not only does all this data help improve your fleet’s operations, it can also lead to cost savings, safer driving, and fewer accidents on the road.
Be sure to check out our Thunder Funding blog for more information about how to grow your fleet like this post - Growing Your Fleet: 4 Tips For Building A Profitable Trucking Business