Fleets Leverage IoT to Reduce Costs and Saving Lives

As the IoT marketplace develops, fleet industry is the one that may benefit the most. Many business owners, supply and logistics shareholders incline mostly on fleet managers to keep up fleet inventory and manage drivers, all while cutting costs. How much we pay attention to the tire pressure of our car? 

But the pressure and temperature fluctuations can have a considerable impact on the life span of the tire. For individual users, it may not have such a huge effect on the overall vehicle maintenance cost, but in case of fleet operators, who have hundreds of vehicles, can interpret the importance of the right tire pressure and its effect on the overall tire maintenance costs. So just maintaining the correct tire pressure in their vehicles, based on the vehicle size and load, can save fleet operators thousands of dollars on annual maintenance costs.

Tire pressure is one of the important factors of ideal fleet management so that fleet operators are moving towards lowering the total cost of ownership via relevant route management, fuel utilization, improved safety, driver performance management and vehicle maintenance. As per a new report by Research and Market, the IoT fleet management market is estimated to reach USD 8.28 billion by 2021. In order to take benefit of IoT fleet management solutions, we need to compute the needs first and then understand what solutions are possible.

IoT Solutions in Fleet Management and how they can help?

There are various components available in fleet management; thus there are plenty of opportunities to seize data. Here are the few ways how IoT is set to restructure fleet management. 

Driver Management

Drivers safety depends on the examining driving habits and assuring that vehicles are operating properly. Telematics technology monitors driving behavior while GPS tracking can restrict vehicles to specific geographic areas.
• Predictive weather analytics so that you will get the real-time information about the weather conditions your driver is suffering from. Sensors implemented in your vehicle and along your route can give the most exact weather data so you can optimize its delivery time.
• In-cab analytics to assure that your fleet is handling responsibly and effectively.

Minimize Fleet Inefficiencies

Optimize routes in the way that it will result in a faster and more productive operation. Getting drivers to their destinations using ideal routes allow fleets to finish trips more effectively, which means improved productivity and increased customer satisfaction and saving cost on fuel. With the help of telematics and real-time data, team can make illuminated decisions about scheduling and routing with fleet tracking system.

Utilize Fleet tracking system that provide GPS tracking devices and telematics technology, which helps fleet managers to get real time location, and set geographical location and get alert in case of alternate route. 

Vehicle Maintenance ( Schedule repairs in advance before breakdowns arise)

When vehicles need sudden maintenance as well as repairs, it will increases operating cost. IoT Predictive analytics solutions allows you to schedule maintenance and repairs in advance − depends on time, engine hours and odometer readings − so that we can easily reduce the impact of downtime on daily operations. If you want to maintain the vehicle safety while also keeping the budget, you should check following IoT Solutions.
• Preventative vehicle maintenance measures fleet driving behaviour, tire pressure, engine health and vehicle battery to schedule a maintenance before it break-down.
• Remote asset maintenance, empower you to analyze the health of such assets for which you may not have regular physical access.

Gain Insights

With the help of different sensors, fleet companies have access to huge amount of data which they can monitor to acquire pragmatic insights into the adhesion to laws by drivers, driving patterns and vehicle speeding and so on. This data can assist the companies to make real-time fast decisions for immediate improvements. In fact, these insights can also assist in effective handling of the overall supply chain.

Green Fleet Initiatives

If you’re looking for ways to minimize your fleet’s carbon footprint that will help you stay cooperative and environment friendly, you should go with an IoT solution to do the following: Minimize idle time of assets, assuring they are only burning fuel when required. That means optimize routes to avoid wasting of gas in traffic or analyzing driver patterns leads to fuel optimization best practices.

A recent research stated that idling vehicles release over 10 million tons of carbon dioxide into the air. Driving the vehicles at a high speed or keeping vehicles idle have a dangerous effect on the environment, aside from the fact that they also cause extreme wear and tear and additional fuel costs. With the help of the IoT technique, operators can easily track driver behaviors and can get real-time automated alerts, which will help them in reducing the offensive behaviors.

Automation

IoT in fleet management enables the fleet operators to automate different processes and skip planning. For instance: In case of bad weather warnings, automatic notifications have been sent to drivers to assist them in rerouting and plan accordingly etc.
Based on the collected data about the route, traffic, number of passengers, vehicle speed etc., these systems can generate alerts and display messages that support the passengers in planning their routes and journeys.

Conclusion

Eventually, IoT solutions help to move the industry towards connected fleets. Connecting your fleet builds your budget solid and your vehicles safer. Industries have enormous opportunities to take advantage of such a hyper-connected world and IoT, no doubt it has set to become the backbone of the fleet management industry.