Fleet spend analysis can uncover costs not found in a cost of ownership calculation

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.