The transportation industry is facing a number of challenges and an uncertain future. One of the biggest challenges is rising operational costs. These have increased 53%1 over the last seven years. Today, nearly 10%1 of average fleet operating expenses are attributed to maintenance and repairs. The unfortunate reality is that fleets can’t raise their rates if they wish to stay competitive – so reducing operating costs is the only alternative without taking a hit to profits.
The latest and greatest technology many fleets are adopting to help reduce these costs is Extended Fault Monitoring (EFM). Our partner, Omnitracs, created a whitepaper on the benefits of EFM. We’ve summarized the key points for you here:
What is fault monitoring?
Simply put, it provides engine fault code data for the most common faults such as those that can put a truck off the road or cause an immediate need for costly repairs. Accessible through a dashboard, fleets can set up alerts and have insight into faults by vehicle, near real-time access to faults as they happen and allows them to proactively manage maintenance and repairs.
What is Extended Fault Monitoring?
EFM provides fleets with a much deeper level of insight into potential issues through:
- More robust fault detection – Measures thousands more data points being generated by trucks which can identify future issues. This enables fleets to be even more proactive with maintenance, saving significant costs down the road.
- Original Equipment Manufacturer (OEM) and Tier 1 Supplier integration – Helps fleets understand exactly what the faults are and what they mean. Through partnerships with OEMs and Tier 1 Suppliers, fleets can now receive advice directly from the experts.
- Scalability – The ability to scale is key and is particularly important that your ELD provider also offer scalability (i.e. new functionality, new integrations) in order to maximize the value of EFM.
Together, Extended Fault Monitoring and partnerships with OEMs and Tier 1 Suppliers, can provide fleets with insights that were previously unavailable to them. Benefiting fleets of all sizes, EFM can help you lower your repair & maintenance costs, improve productivity, and free up capital for future growth.
Check out the full whitepaper here.
Contact Shaw Tracking at 1-800-478-9511 to see how we can help you reduce costs with Extended Fault Monitoring.
1“Reduce Repair Costs and Gain Drive Time through Proactive Vehicle Monitoring.” Omnitracs, 2015. Web. 15 Nov. 2016.