Fuel Management System: A Telematics Solution to Manage Fuel Consumption
A fuel management system, aided by telematics, helps fleet managers to track fuel consumption, save costs, and optimize fleet operations. It works by collecting data from the fleet through sensors and telematics devices, providing accurate reports, aiding in fleet maintenance, real-time tracking of vehicles, and optimizing routes.
An effective fuel management system can predict future fuel consumption and help companies plan better.
The fuel industry is on the go. We are witnessing a hike in fuel prices like never before. Fleet companies have to cope with the drastic increase in these fuel prices.
Fuel is one of the most crucial factors in fleet industries and it is important to look out for its consumption and savings. Companies can not expect drivers and fleet operation teams to waste even single drops of fuel.
Fuel management systems are helping fleet managers to use fuel wisely with better efficiency. Read more to know how a fuel management system can help you!
Understanding Fuel Management For Fleets
Fuel management is one of the most essential elements of fleet management. A system for managing and controlling fuel consumption is set up with help of some software and hardware changes.
A fuel tracking software is often used to manage and control fuel consumption. Telematics plays an important role in fuel management for fleets. Fleet managers use fuel management systems to track different aspects of the fuel requirements in the fleets.
How does a Fuel Management System work?
The working of a fuel management system in fleets is executed with the help of telematics. The data from the fleet is forwarded to the fleet managers through telecommunication devices.
The telematics devices ensure higher connectivity with better efficiency during the transfer of information.
The software part works by collecting all sorts of data regarding fuel and some other collective information about the fleet, sending it to the control office, and creating the output in form of charts, graphs, and other forms of structured data.
The hardware used for the fuel management system involves various sensors and fuel consumption trackers that help in the collection of information from fleets.
Both software and hardware components act together in the fleet to manage fuel consumption.
Properties of an effective Fuel Management System
Data is the new gold in the present world of marketing and business. You need to have all information from purchasing cost of fuel to the rate of consumption of fuel by your vehicles.
Manual recording of these kinds of data involves high risks of errors. These errors sometimes lead to improper judgment and uncontrolled flow of capital, leading to increased loss and lesser economical gains.
A fuel management system that works with the help of telematics keeps track of everything. There is negligible scope for error in recording.
This helps in maintaining a proper track of things. Fleet companies can save a lot of costs and gain economic benefits in the long run.
Companies can easily keep track of various aspects including fuel tank reports, fuel leakage, mileage, hike in fuel prices, and much more.
An effective fuel management system can also predict future fuel consumption helping companies to plan better.
1.Better Analysis and accurate reports
The success of a fleet business depends on a lot of factors. A fleet manager has to look out for several things including fleet condition, assets, security, cost reduction, on-time delivery, managing human resources, and a lot more.
The proper functioning and efficiency of each element help in the overall execution of things in a fleet industry. There are a few parameters that account for the proper functioning of a fuel management system.
Some of the properties that make a fuel management system in fleets are-
2.Helps in Fleet Maintenance
An effective fuel management software not only aids you with fuel usage and maintenance but ensures that the fleet health is maintained.
Several fleet managers maintain a tracklist that helps them to inspect the health of the fleet on a daily basis. This ensures that the vehicle does not undergo any fault and hence keeps the vehicle in optimum health.
A well-maintained vehicle can save you a lot of maintenance costs. Major companies spend a lot of capital on fleet management that can be saved to a large extent with the help of fleet management software aided by an efficient fuel management system.
3.Providing real-time vehicle tracking
In times before telematics, the location of the vehicle was passed down by the drivers through calls. There was a high chance that drivers can misuse the fleet while riding. Often drivers take long routes or use rides for their work.
In past times, due to lack of data fuel consumption was always high and fleet managers suffers a lot due to foul practices by the fleet drivers. Many drivers were in the habit of stealing and selling fleet oil for their benefit.
A lot of capital was wasted and there were very few options that can be used to save these costs. Telematics has solved the issues and changed the way the fleet works.
Now fuel management software with the help of telematic devices helps managers to keep track of the fleet in real-time.
Fleets installed with GPS servers use telematics and a fuel management system to send real-time location to the fleet manager. This helps them to keep track of each and every activity of the fleet and saves them from any misuse.
Any wastage of stealing of fuel is reported to the manager with the help of GPS and fuel tracking sensors. False practices are eliminated and a lot of costs are saved with the help of fuel management software operating through telematics.
Even modern-day telematics-based fuel optimization software allows fleet managers to create a geofence. This geofence is an area that falls within a radius decided by the fleet managers.
If the fleet tries to cross the geofence, the manager is notified with the help of sensors and AI. This ensures that the fleet always runs on the decided routes and helps in saving extra fuel.
4.Aids in Route Optimization of Fleets
The runtime of your vehicle decides the fuel consumption. A good route with less traffics can help you reach your destination on time with better fuel consumption efficiency.
Telematics makes it easier for fleet managers to plan out routes for the fleets. The software can analyze the road conditions, traffic, and other parameters before suggesting the best and most optimized routes.
GPS technology and AI are used with the coordination of telematic softwares to run various tests and predict road behavior. Real-time route optimization is also becoming popular in present times. It saves a lot of time and money.
5.Merging the fuel card with the System
A fuel management system makes it possible for fleet owners to keep an eye on every transaction involved in the purchase of fuel for their fleets.
You can merge your transaction card with the fuel management system. This allows you to view every transaction made from the card in your fuel data. It makes planning and allocation of the budget for fuel more efficient.
This also aids drivers to look for fuel stations through GPS. The telematics also informs them if the fuel card is accepted or not. Notification about the fuel quantity and refilling keeps drivers in a loop to avoid fuel shortage at any point.
Summing it up!
Managing your fuel consumption is one of the most important parts of fuel management and control. Fleet industries try to control fuel wastage as much as possible.
Fuel maintenance can help you to save money and time. A telematics-based fuel management system makes your job easy. Get one for your fleets and save costs on fuel!