Some things are within your control, and others are completely beyond your control, which can be extremely unsettling for people, including those in charge of ensuring businesses operate effectively.
In just the past two weeks, we’ve experienced several events beyond our control: one of the most destructive hurricanes in years, a thankfully short strike along all eastern U.S. ports, and escalation in the Middle East conflict.
Trucking companies need to closely monitor geopolitical and domestic developments and be prepared to adapt to changing market conditions. Risk management, efficient logistics, and financial planning are critical strategies for mitigating any impacts. But what needs to take a front seat for fleet managers is ongoing preventive and predictive maintenance.
The challenges fleets face:
- Fuel prices: Though diesel prices are coming down, volatility in the market makes forecasting fuel costs extremely difficult. In the case of a natural disaster, fuel deliveries themselves may be in jeopardy, intensifying the need for better fuel management.
- Supply chain disruptions: The port strike ended quickly, but if it had continued, it would have impacted almost every aspect of retail and manufacturing in the U.S. According to J.P. Morgan, costs to the economy were estimated to be between $3.8 billion and $4.5 billion each day of the strike, impacting the scheduling and operations of trucking companies. Fortunately, this disaster was averted, but it does show how tenuous supply chain sustainability can be.
- Natural disasters: Hurricane Helene forged a path of destruction that few could have anticipated. Major roads are either washed out or still underwater, putting intense pressure on logistics experts to find alternate routes and even alternate facilities to deliver and pick up shipments. Now we have more storms on the way, which will only make bad situations even worse.
- Fleet maintenance and safety: Every fleet manager is concerned with these issues every day, but during times like this, fleets may need to invest in additional safety and security measures, which can increase operational expenses.
Fleet managers have much to consider. That’s why it's vital for them to do whatever they can to keep vehicles running safely, effectively, and in compliance.
See also: How fleets should prepare for adverse weather
How do PMs and predictive maintenance mitigate potential damage?
Since trucks move more than 70% of all freight in the U.S., the role of fleets always matters, even more so when times are tumultuous. It would be impossible to keep vehicles in optimal shape without robust preventive and predictive maintenance practices.
Preventive maintenance, the scheduled inspection and repair cycles, is intended to keep trucks in top, road-ready condition. Predictive maintenance uses data and technology to forecast when maintenance will be needed, letting fleets prepare for what may come next. The benefits for fleets are clear:
- Reducing downtime: Any vehicle taken off the road negatively impacts the company’s bottom line. But during times of stress, it’s not just the company that suffers. There is increased demand for fleets to meet critical needs. Fleets can minimize unexpected breakdowns by instituting ongoing PMs and predictive maintenance practices.
- Controlling costs: The less money spent on costly repairs and parts, the better the company manages its working capital. Companies can avoid expensive and time-consuming breakdowns by working on and fixing minor, manageable issues. This is what preventive maintenance does: identify and address potential issues before they expand into major problems. Predictive maintenance can provide the necessary information to ensure that part replacements are on hand to handle potential issues. Predictive maintenance is invaluable when it comes to extending a truck’s lifespan.
- Ensuring safety and compliance: Safety is top of mind for every fleet daily, especially during challenging times. In addition, increasing regulations require that every vehicle be in compliance, and that can only be ensured by regularly scheduled preventive maintenance. Predictive maintenance is beneficial since it can provide insights into component wear and tear, enabling timely replacements.
- Better decision-making: Predictive maintenance is key to making the best decisions. This does mean that fleets should invest in technology that makes predictive maintenance possible, but that investment will pay for itself in the long run. In times of turmoil, the ability to make data-driven decisions (rather than guesswork) is vital. Fleet managers who can access accurate, real-time information on each vehicle in the fleet can then adapt quickly to changing circumstances.
Obviously, having our fleets running safely, effectively, on time, and in compliance won’t change the situations on the ground (from natural disasters to strikes and more). However, the value of knowing that fleets will be ready to deliver what is needed when it is required can’t be overstated.
