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Making service decisions for older assets

Dec. 28, 2022

Evaluating total cost of ownership and shortening maintenance intervals could help fleets spot problems before they cause roadside breakdowns.

Patrick Gaskins

Supply chain issues continue to plague the trucking industry, forcing many fleets to extend their asset lifecycles. Fleets operating older assets will see increases in maintenance and repair costs as they try to keep their older trucks on the road.

In addition, fleets may be examining their historical maintenance schedules and their parts purchasing decisions.

Fleets that have had three-to-four-year replacement cycles likely looked at ways to extend maintenance intervals for things like oil and filter changes. Now that these fleets have to extend their lifecycles, they must reevaluate their maintenance practices and see if they can keep their maintenance costs in check by playing catch up. This will entail addressing some deferred maintenance items.

Extended lifecycles will require fleet maintenance managers to reevaluate their choice of replacement parts. Whereas inexpensive ruled the day for short-term lifecycles, extending the life of the replacement part as well as the asset will be a focus going forward. Preventive maintenance must not only address standard items such as oil drains, brakes, and tires but PMs must include parts, components, and sensors. Sensor maintenance will be critical because a fouled sensor can put a truck out of service.

With older assets it may be wiser to consider shortening maintenance intervals and bring vehicles into the shop more frequently as this could help spot problems in their early stages before they cause roadside breakdowns. By evaluating each asset’s TCO and ranking the assets from best performer to worst performer, maintenance managers can redeploy assets and keep poor performing assets closer to home.

Fleets are operating their assets under some rather unusual circumstances, so it makes sense to review “business as usual” practices when it comes to maintenance and repair to get the most out of the older trucks.

Patrick Gaskins, SVP of Corcentric Fleet Solutions, oversees both sales and operations for the company's fleet offerings. Gaskins joined the company in 2010, bringing more than 30 years of experience as a financial services professional in the transportation industry. He leads a team that works with a supply base of more than 160 manufacturers to help the country’s largest fleets manage all aspects of their fleet operations and fleet-related spend.

About the Author

Patrick Gaskins | Senior vice president, Fleet Solutions

Patrick Gaskins is a financial services professional serving the transportation industry for over 30 years. Gaskins earned his BBA in Finance from the University of Miami, FL in 1989, and received his CTP certification from the National Private Truck Council in 2002. He has held positions with GE Capital, TCF Equipment Finance, and various small independent lessors.

He began his career with Corcentric in 2010 as Vice President of Financial Services, was promoted to Senior Vice President of Sales and Operations, and is now taking the role of Senior Vice President, Fleet Solutions. In his new role he will lead Corcentric’s Captial Equipment Solutions, Fleet Procurement, Supply Management, and Remarketing teams. Gaskins will bring to the Fleet practice his expertise in developing data driven solutions to complex transportation transactions, driving efficiencies, and reducing expenses for Corcentric’s customers.

The Fleet Solutions practice leverages technology and the purchasing power of over 1,700 member fleets operating approximately 800,000 assets to provide its members with access to cost effective national account purchasing programs, fleet financing, asset management, and remarketing services.