The construction industry relies on various assets such as truck fleets and special equipment to deliver services. However, these assets tend to be underutilised at times, if not wholly idle. It is no secret that these parked trucks do not attract any revenue – they also continue to incur storage and maintenance costs, drivers’ wages, and other unnecessary expenses.
However, the good news is that the truck freight demand is steadily booming, albeit users have a preference for hiring trucks rather than purchasing their own, which is only practical! If anything, this translates to truck owners and operators now having more opportunities to maximise their assets and increase revenue. Here are a few tips for implementing an effective asset utility strategy for your tipper truck service as a provider.
1. Building your business case
Truck providers should first standardise measuring asset utilisation with their own key performance indicators (KPIs). This way, they can better understand the costs and benefits associated with their assets and have precise data to back things up.
Performance metrics can vary with each asset or service provided – for instance; the performance can be chosen to signify the miles travelled, fuel consumption, time utilisation, driver-to-truck ratio, and other relevant factors. Fleet owners can quantify their asset utility with these markers and face them off with their total cost of ownership to calculate how much profit they can potentially make.
2. Keeping up with maintenance
Fleet managers should ideally initiate a monitoring and improvement programme that focuses on preventative, instead of reactive, maintenance. Instead of waiting for problems to crop up, they can regularly inspect their fleet and prevent minor issues from turning into significant complications that require expensive repairs.
Preventative maintenance lengthens the lifespan of their assets and leads to lower operational costs down the line. Moreover, it is better for the overall business outlook since truckers can forecast their expenditures and plan future purchases when deciding what vehicles to keep or retire from the road.
3. Managing driver retention
Tipper truck driver jobs have a high turnover rate, making it challenging for fleet managers to keep their base full. While excellent drivers may be hard to come by, they are vital to maintaining one’s fleet.
Monitoring driver behaviour and arranging training and safety courses are an essential part of fleet management. Regular training and safety courses can reduce bad driving behaviours such as speeding, hard braking, and excessive idling, leading to anywhere from accidents, increased costs, and maintenance issues. Hiring a good driver improves fleet safety and efficiency, and gives owners the peace of mind of knowing that their assets are in safe hands.
4. Choosing the right logistics platform
More transport and construction companies are riding the digital wave and adopting helpful technological solutions instead of relying on outdated systems that complicate their business. For instance, an online truck booking system empowers users to find the right truck company for their business. It provides modern capabilities that have been missing, such as connecting clients to an extensive network of available truck companies and drivers that answer to their load requirements and provide the best freight rates. Being connected to the proper logistics platform can move up a truck provider way up the efficiency scale.
At JustGo Enterprise, we provide tipper truck providers with convenience through our JustGo app. Whether you are a tipper truck service provider or a construction company that owns tipper trucks, JustGo provides an interactive online truck booking app that enables you to offer your tipper truck service to businesses in need. Our app is designed to allow you to search for jobs near you, your driver, or the closest MRT station in order to maximise your profits by planning ahead of time through advance scheduling.
Maximising asset utility can improve a truck company’s bottom line. It ensures that they create or increase revenue with their existing resources and get maximum value from their costly investment.
Make the most of your resources and earn additional cash while your truck drivers are on the road! Through JustGo’s reliable app, you can encourage your tipper truck drivers to accept work offered by other businesses on the app – developed with outstanding features; our app makes accepting jobs convenient and effortless. Contact us today when you are ready to begin offering tipper truck services with JustGo!