Best in class heavy/highway contractors are defined as those having upper-quartile net income and perform at high levels in various fields. Estimating, field operations, financial management, and fleet management are all managed more effectively than at other companies.
This article focuses on best practices in fleet maintenance and management and how best in class heavy/highway contractors can leverage technology to maximize operational performance.
The Economics of Fleet Operations
The basic objective of fleet management is to run equipment as much as possible while operating the fleet more cost effectively than renting the equipment. Because of this, “when the yellow iron runs, we make money,” is a common adage among heavy/highway contractors.
To accomplish effective fleet management, it is necessary to keep equipment in good running order, minimize maintenance and repair costs, and deploy assets where they will be utilized the most.