In recent times, the Global Fleet Management industry has been riding a wave of technology-driven innovations that have profoundly impacted efficiencies in various aspects of the business.At the heart of these innovations is ‘Fleet Telematics’ – an expanding genre of IOT connectivity technologies that are being adopted across the globe at an accelerated pace.As quoted by Mckinsey, the global market for fleet telematics hardware, software and services is slated to grow at around 23 percent per annum for the next six years, becoming a $75 billion industry by 2025.In truth, these technologies promise a plethora of possibilities that many fleet companies are only beginning to comprehend.
Automated route planningWhen it comes to route planning, the shortest route is seldom the most effective.Intelligent navigation systems can now take into account a host of information including sales territories, planned pick-ups/ deliveries, vehicle characteristics and storage capacities, as well as on-ground information.The end result is optimal routing that translates into reduced travel time, lesser miles covered, and lesser number of vehicles used.The saved resources can then be applied to service new commitments across wider territories, thereby increasing productivity, sales and profit.
Efficient dispatch systemsRouting systems now harness the power of vehicle telematics, cloud and smartphone technologies to establish real time connectivity between drivers, fleet operators and customers.This ensures the best possible match between customer requirement, vehicle type and location, without involving human intervention.
Real time route execution trackingThe best laid out route plans can go awry if the on-ground conditions change when the vehicle hits the road.Advanced tracking technology can dynamically link map, schedule and vehicle data to make adjustments and course corrections when required.At the same time, it continuously tracks and measures planned vs. on-the-road performance, to fine tune the planning process, keeping productivity goals on track.
Asset trackingIOT based tracking devices/ sensors can be attached to vehicles, equipment or other assets.These devices are able to constantly collect and transmit a stream of geo-locational and environmental data, which is processed and delivered over a data dashboard, using cloud -based technologies.This information can be used to ascertain the safety of assets, as well as their location and the speed at which they are traveling to their destination.In addition, data regarding local weather and road conditions can be used to make route corrections when required.
Vehicle performance trackingFleet owners can track various vehicle parameters such as speed, fuel consumption, engine faults, temperature, CO2 emissions etc.