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.

CCJ‘s 10-44 is a weekly video feature covering the latest in trucking news and trends, equipment and technology. Subscribe to our YouTube channel here.

At Corcentric, we stand ready to help any fleet bridge that gap.  To learn how we can help, contact Corcentric today.