Fleet Management Drives Down Costs

By Sarah Howland, Field Technologies magazine

Being a fleet manager in today's economy is not a job I envy. Operational costs are continually on the rise, yet fleet managers face mounting pressure to drive them down. In a recent study by Verity Insight Partners, 64% of fleet managers reported increased operational costs in the past 12 months and 63% expect their costs to rise again before the end of 2012. Managers site escalating fuel expenses and maintenance costs as the biggest contributors to their budget woes. As if the stress of driving down costs weren't enough, fleet managers face another quandary — ensuring their drivers are safe while on the road. American Electric Power (AEP) has quelled these challenges — first with the implementation of a fleet management solution and, more recently, by piloting the addition of a telematics component to its solution.