- Fuel usage: You can get tools to help you monitor and analyze fuel consumption, so you don't spend more than necessary on fueling up your fleet.
- Safety compliance: Software can monitor safety-related areas of concern, such as compliance with regulatory requirements and safety performance tracking.
- Budgeting: Software can give you detailed insight into every part of your fleet operations. You can compare costs directly with your budget to ensure you don't overspend.
Similarly, consider installing fleet-tracking devices in your construction vehicles. These devices link to an onboarding diagnostics system, enabling you to monitor many aspects of your fleet. For example, you'll get reports and data on how long a vehicle is in use during the workday to help you understand fuel and repair costs.
3. Invest in Operator Training
Make sure to train your equipment operators in the best practices for each piece of equipment. When your team knows how to properly use machinery, they won't overuse it or operate it in a way that accidentally increases wear. As a result, you can reduce fuel and repair expenses.
Construction equipment is also consistently evolving with better technology and advanced features, so you want to ensure your workers stay informed. Plus, training your operators continuously can keep them updated on industry regulations for better compliance.
You can customize training programs to the specific needs of your fleet and project types.
4. Sell Underutilized Assets
You can repair and maintain machines to extend their use lives, but you'll eventually need to upgrade them. Keeping machines you don't use can result in wasting money on storage costs. One option to free up capital and reduce overhead is to sell equipment that doesn't contribute to your productivity. You can then relocate the money toward assets your team will use more often.
5. Buy Used Machines
Purchasing used construction equipment is the best way to save money when building out your equipment fleet. Additionally, it provides these benefits:
- Less depreciation: Most depreciation occurs in the first few years. Buying new means the value of equipment could decrease quickly, whereas used could have a slower depreciation rate.
- High-quality brands: Buying used equipment can make higher-quality brands more accessible to you. For example, if you like the features a specific machinery company provides but can't afford a piece of their equipment new, you may be able to find a used option that suits your needs and budget.
- Inspection and history: When you work with a reliable equipment dealer to find used machinery, you have access to the equipment's use and service history. As a result, you know exactly what to expect.
Ultimately, the only significant difference you'll note when browsing used equipment is its affordable costs — choosing certified used machinery provides peace of mind knowing they have met certain conditions under a robust assessment process, so when you're ready to work, your equipment is too, allowing you to save money on your construction fleet.