Originally appeared in Commercial Carrier Journal
Calculating total cost of ownership is a fairly fundamental step in understanding how (or if) a fleet makes money. Without an accurate cost per mile, carriers are left blindly charging rates that may or may not cover operating costs.
However, maintaining a solid balance sheet goes a lot deeper than simply knowing payroll, fuel and maintenance costs. A fleet spend analysis can go a long way in uncovering the kind of hidden costs that erode profitability.
In this week’s 10-44, Jason and Matt talk with Pat Gaskins, Senior Vice President Fleet Solutions at Corcentric, who says a fleet spend analysis can break through generic barriers (or buckets) that often just show carriers a high-level view of what’s going on, and can reinvent long-held business practices, including a fleet’s trade cycle and how it negotiates parts and component deals.
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At Corcentric, we stand ready to help any fleet bridge that gap. To learn how we can help, contact Corcentric today.