What is Fleet Risk Management?

Fleet risk management is the process of detecting problems that could render a fleet hazardous or out of compliance and establishing a framework of procedures and programs for addressing them. Any risk assessment’s main objective is to ensure safety, particularly for the fleet’s drivers and other road users.

Managing a fleet can be compared to juggling multiple balls while walking a tightrope. You have to manage various types of assets, supervise multiple employee roles, pay close attention to several rules and regulations, prioritize driver safety, and minimize costs wherever possible without compromising on safety. Just thinking about trying to achieve it manually will make the best of the best break into a sweat.

Fleet management systems help in making this task a little simpler. Let’s look at 5 ways by which they help in reducing risks. Let’s see Fleet Risk Management Ways:

How to Reduce Fleet Management Risk?

An EAM reduces the risk by:

  1. Monitoring Driver Behavior Carefully

As a fleet manager, it is your responsibility to ensure that your drivers are strictly following safety rules at all times. Take responsibility for the safety of your employees and ensure that discipline is stringently maintained. Do not overlook unsafe actions and monitor the behavior of all drivers to keep the employees safe and the fleet running smoothly. You can use mobile-based fleet management software to collect driver behavior data and score the drivers based on their driving habits and actions such as speeding, rapid acceleration, and hard braking so fleets can eliminate safety risks.

If there is an accident, review the driver’s behavior at the time of the incident. Don’t just collect it —pay attention to it, review it and take necessary action.

  1. Tracking of Asset Location Easily

Every once in a while, drivers may get tempted to stray away from the set procedures or route for personal work. This translates to wasted fuel and the vehicle mileage will shoot up unnecessarily. Moreover, the issue of fuel theft is always present at the back of every fleet manager’s mind. If the fleet consists of hundreds of vehicles, then it may be more challenging to prevent fuel theft or route compliance issues.

With asset management software you can track vehicle location and fuel transaction data. The fleet manager can get a map view of the fill-up location and the actual vehicle location at the time of fill-up. You can even pinpoint route problems by analyzing accurate trip records and optimizing the use of each fleet vehicle.

  1. Aiding in Proper Planning and Scheduling

Even if one vehicle in the fleet isn’t in motion, your business will suffer. This is why it is critical to properly plan and schedule the maintenance tasks to eliminate the risk of a vehicle breakdown, which has the potential to affect the driver’s safety too. It also makes sure that your fleets have vehicles and equipment ready when needed.

Facility maintenance software helps in automating maintenance and renewal schedules. You can create maintenance workflows for every single vehicle and set reminders for various service tasks.

  1. Making Detailed Inspection Possible

Inspections go a long way in reducing risks. Make thorough pre and post-trip driver operator inspections a critical part of scheduled maintenance. When you make sure that all the vehicles pass inspections, it will increase the uptime, improve on-road safety as well and eliminate the risk of complex compliance issues.

Inspections help in identifying any issue or problem in the nascent stage, thus allowing fleets to schedule maintenance using preventive maintenance software without interrupting the utilization of the vehicle, and avoiding downtime. This helps in maximizing resources and scheduling mechanics and parts to be available when the assets are brought into the shop.

  1. Providing Comprehensive Asset Details

You can operate a fleet successfully when you have every bit of information about the company assets at your disposal, but it’s a mammoth task to keep track of every vehicle’s specifications and details. Moreover, it is also time-consuming. Assigning a vehicle identification number (VIN) in CMMS can help in providing information that is crucial to the usage and maintenance of a vehicle throughout its entire lifecycle. You can make smarter fleet decisions when the detailed vehicle data is accurate and accessible.

If you are looking for advanced fleet management features, our products are designed to address the unique challenges of fleet maintenance apart from managing the auto-generation of work orders for vehicles and equipment that are due for maintenance. Contact us at NEXGEN for more details regarding CMMS implementation.