To avoid being inundated with information, you should use Key Performance Indicators (or KPIs) to break your fleet metrics into manageable and relevant chunks. KPIs help you understand how your fleet is performing and which actions to implement for improvement.

So what is a KPI? A KPI is a metric that fleet managers use to measure the success of their fleet operations. There are many different KPIs that fleet managers can track, but some of the most important ones include fuel efficiency, maintenance costs, and fleet uptime.

While KPIs do differ somewhat according to fleet size and vertical, there are specific indicators we believe all fleet professionals should be monitoring.

Important KPIs To Consider

With a MiX Telematics system monitoring your fleet and delivering instantaneous feedback, tracking and optimizing your KPIs has never been easier.

We've put together a list of some of the most critical KPIs fleet managers should be tracking:

Fuel Usage

This is perhaps the most important metric for fleet managers to track, as it directly impacts their bottom line. After all, fuel is one of the highest operating costs for any fleet.

Ensuring efficiency by observing certain KPI measurements can save you both money and time. These measurements include:

• Fuel economy per vehicle
• Maintenance
• Fleet asset utilization

When you know which vehicles are not being optimally utilized, you can better manage schedules and ensure that fleet vehicles are generating income at all times. Additionally, monitoring the fuel economy and keeping up with preventative maintenance can help you save costs in the long run.

Maintenance and Repair Costs

Keeping track of maintenance and repair costs is crucial for fleet managers to maintain a healthy fleet. A MiX Telematics system can help fleet managers identify issues before they become costly problems, and track trends over time.

Specific KPIs that are important to monitor in regard to maintenance and repair costs include:

• Number of breakdowns per month
• Number of accidents per month
• Total number of maintenance events per month
• Total cost of repair and maintenance per month

These KPIs may seem obvious (a fleet manager knows about breakdowns and accidents), but treating them like any other metric and tracking them over time can give you valuable insight into fleet performance.

The total number of accidents per month, for example, is a KPI that can help you identify trends in fleet safety. If you see an increase in the total number of accidents per month, you can take steps to improve fleet safety. Perhaps additional training is needed, or there are areas of the fleet that need to be addressed.

Vehicle Utilization

Utilization is a key metric for fleet managers to track, as it also directly impacts your bottom line. By using a telematics platform, managers can see exactly how each vehicle is being used and make changes to maximize utilization.

Specific KPIs relating to vehicle utilization include:

• Vehicle downtimes
• Vehicle uptimes
• Idle Time
• Fuel efficiency and use
• Number of stops per day

Fleet Safety

Monitoring safety is vital for any fleet as a lack of safety can have a knock-on effect on efficiency and cost savings. Driver behavior is a key aspect of fleet safety, and telematics data provides fleet managers with the ability to see exactly how their drivers are performing. By monitoring these KPIs, fleet managers can identify issues early and take the necessary steps to improve safety.

One of the best ways to measure the safety of your fleet is to track bad driving behavior. Therefore, the KPIs you should be looking to include are:

• Speeding
• Harsh braking and acceleration
• Corner handling
• Reckless driving
• Unsafe hours of operation

The above factors are all linked to an increase in both fatal and non-fatal crashes. It proves that monitoring and then reducing these behaviors will help to decrease the occurrence of crashes. You can also use these KPIs to determine what led up to a crash or other safety-related crash so that you can put preventative measures in place.

Compliance

Fleet managers need to ensure that their fleet is compliant with all relevant regulations. This can be a complex and time-consuming task, but it is essential to maintaining a safe and efficient fleet.

There are a number of compliance-related KPIs that fleet managers should track, including:

• Miles driven per vehicle
• Driver hours per day
• Available hours
• Hours of Service (HOS) violation reporting
• Unassigned mileage per vehicle

All of the above fleet metrics relate to Hours of Service regulation, which is the main objective of the ELD mandate. As part of this regulation, drivers are required to stick to a certain amount of weekly driving and working hours and must also rest for a minimum amount of time between driving shifts.

Unassigned mileage is the driver's responsibility, as are all hours of service related to them. However, fleet managers should still monitor this and provide correction oversight.

Why Do Fleet Management KPIs Matter?

Fleet KPIs are important because they provide fleet managers with a way to measure the success of their fleet operations. By tracking KPIs, fleet managers can identify areas where their fleet is performing well and areas where improvements need to be made.

Without KPIs, fleet managers are left guessing about what is working or not working as they aim to optimize their fleet's performance and costs. As you continue to monitor and record these KPIs, you will be able to look back over time and get a clear view of how your fleet has improved or changed with time. These trends are central to creating long-term attainable goals.

Contact MiX Telematics To Use Telematics and KPI Reporting To Your Advantage

Fleet telematics can provide fleet managers with the data they need to track KPIs and improve fleet performance. MiX Telematics' fleet management software solutions offer a wide range of features and benefits that can help fleet managers save time and money while improving fleet safety and compliance.

If you would like to learn more about how MiX Telematics can help you improve your fleet's performance, contact us today. Our team of fleet experts will be happy to answer any questions you have and help you find the right solution for your fleet.