Stericycle saves millions with Corcentric’s fleet management solutions

Stericycle is a leader in medical waste recycling as well as secure documentation destruction through its Shred-it service. The company’s fleet was aging, leading to excessive maintenance and repair expenses, while a full-service lease model was costly and limited control over maintenance decisions.

In 2021, Stericycle decided to enlist the help of Corcentric Capital Equipment Solutions (CCES) to transition from a full-service lease model to a more cost-effective fleet management approach. Leveraging Corcentric Analytics for Fleet Efficiency (CAFE), Stericycle has dramatically improved fleet performance, reduced costs, and enhanced operational efficiency.

Partnering with Corcentric allowed Stericycle to move to a non-full-service lease and gain control of maintenance and repair expenses. Corcentric uses the company’s fleet data, including historical operational and financial data, to determine the life cycle of each asset and structure a lease to optimize each vehicle’s performance. As a result, Stericycle has reduced the average truck age from 8.9 years in 2021 to 3.5 years in 2024. Real-time decision-making allowed the company to analyze maintenance trends and exceed yearly savings expectations – Stericycle planned to save 1.2 million in expenses in 2023 and instead saved $6.8 million.

The comprehensive analytics suite, powered by CAFE, gives Stericycle the flexibility to customize reports to make strategic decisions. Stericycle can track fleet performance at the truck level with 56 custom reports, including ten key reports that regional fleet manages refer to daily and are designed to provide a detailed narrative of the company’s fleet operations and illuminate cost-saving opportunities.

These analytics have also enabled Stericycle to optimize fleet procurement, replacing approximately 2,600 trucks over three years while aligning replacements with operational needs. By cutting idle time and reducing millions of pounds of carbon emissions, Stericycle has saved $1.56 million in idle time reduction costs.

“Corcentric has integrated all of our fleet data and has worked hand in hand with us to create these unbelievable tools we can use to drive results, and that’s what it’s all about,” says Bill Snyder, retired VP of Global Fleet Engineering for Stericycle.

For Stericycle, enhancing fleet efficiency and fostering growth doesn’t stop at data analytics. By working with Corcentric, they improved cockpit ergonomics for more than 800 of its 26-ft box trucks, with a redesigned model launching in 2025.

Corcentric also supports prototype development for Shred-Tech and Shred-Fast vehicles, reducing production time and improving efficiency. Duo-modality trucks were designed to handle both document shredding and medical waste collection, increasing operational flexibility. New side and rear-unloading shred trucks improve worker safety and building accessibility.

With an innovative, safe, and economical fleet, Stericycle has a competitive advantage and can earn more business.

Corcentric’s commitment to being responsive and collaborative has made them an invaluable partner. Stericycle’s team and Corcentric’s fleet experts communicate daily to address challenges and improve fleet management. Whether its lifecycle sweet spot analysis, design improvement, or truck procurement, Corcentric always makes sure Stericycle’s needs are met promptly and effectively.

“What’s great is, we don’t waste time re-doing things we’ve requested,” says Snyder. “With Corcentric, it’s unbelievable – it’s right the first time and we can take it and make something happen.”