Understand and Maximize Vehicle Utilization
Vehicle utilization directly impacts profitability, operational efficiency and sustainability. Having high utilization ensures fleets are maximizing their capacity and overall operations. Tracking fleet utilization metrics can help carriers better understand their operational efficiency, but without metrics to compare to, it is hard to know what good actually looks like.
Getting an Apples-to-Apples Comparison
Penske created Catalyst AI™ to help fleets measure up to other similar fleets, uncover opportunities and get insights to help improve operations. The technology sifts through billions of data points and compares fleets against similar operations for accurate insights. More importantly, it provides insights on what could be leading to overall performance, both the good and the bad.
One of the most important aspects of Catalyst AI is the ability to make apples-to-apples comparisons. Catalyst AI taps into a robust collection of live, real-time and proprietary data from the expansive Penske network of hundreds of thousands of vehicles and considers multiple factors that allow carriers to benchmark against similar vehicles and applications.
As a result, carriers can use the data to discover new ways to maximize efficiency, reduce costs, and improve the usage and productivity of equipment.
Why Utilization Matters
Underutilized vehicles represent untapped potential and reduced productivity. Improving vehicle utilization helps fleets maximize the load carried per trip, reduce downtime and eliminate inefficient routes. Ultimately, enhancing fleet productivity through better vehicle utilization allows carriers to lower the cost per mile and increase the revenue per trip.
Improved utilization also helps fleets avoid premature wear and tear on trucks through planned usage patterns that spread workloads more evenly across the fleet, reducing the risk that some vehicles are overused.
Utilization also affects drivers. Drivers are legally limited to the number of hours they can drive, and improving utilization can help them cover more miles during that time. This is especially important when drivers are paid by the mile.
Taking a Test Drive
Existing customers who would like to try Penske’s AI-powered models and discover ways to improve critically important measures, such as utilization and miles per gallon, can log into Fleet Insight™ to start their fleet comparison.
Non-customers can also take advantage of the power of Catalyst AI with Penske’s fleet benchmarking tool and their self-reported fleet information.