GE Capital Fleet Services Replacement and Leasing Strategies Pay Off

‚ÄúI believe we will see the trend towards pre¬≠dic¬≠tive ana¬≠lyt¬≠ics con¬≠tin¬≠ue in 2014,‚ÄĚ said Steve Jas¬≠trow, Strate¬≠gic Con¬≠sult¬≠ing Ser¬≠vices Man¬≠ag¬≠er at GE Cap¬≠i¬≠tal Fleet Ser¬≠vices. ‚ÄúAs we con¬≠tin¬≠ue to launch new prod¬≠ucts and ser¬≠vices that deliv¬≠er incre¬≠men¬≠tal cost and pro¬≠duc¬≠tiv¬≠i¬≠ty sav¬≠ings for our cus¬≠tomers, cap¬≠tur¬≠ing data from those pro¬≠grams will con¬≠tin¬≠ue to give us insight and will allow us to fur¬≠ther refine fleet per¬≠for¬≠mance.‚ÄĚ

The largest areas of cost sav­ings iden­ti­fied by GE Cap­i­tal Fleet Ser­vices dur­ing 2013 were:

  • Pro¬≠gram Enhance¬≠ments: Uti¬≠liz¬≠ing prod¬≠ucts and ser¬≠vices to prop¬≠er¬≠ly man¬≠age time and expens¬≠es includ¬≠ing; main¬≠te¬≠nance, fuel, acci¬≠dent and safe¬≠ty costs, telem¬≠at¬≠ics, licens¬≠ing and reg¬≠is¬≠tra¬≠tion fees, and toll & vio¬≠la¬≠tion expens¬≠es
  • Accel¬≠er¬≠at¬≠ed and Opti¬≠mal Replace¬≠ment: Deter¬≠min¬≠ing the opti¬≠mal time to cycle vehi¬≠cles and/or  uti¬≠liz¬≠ing a short-cycle replace¬≠ment strat¬≠e¬≠gy to decrease vehi¬≠cle depre¬≠ci¬≠a¬≠tion and cap¬≠i¬≠tal¬≠ize on high¬≠er val¬≠ue at auc¬≠tion
  • Lease Ver¬≠sus Reim¬≠burse¬≠ment: Iden¬≠ti¬≠fy¬≠ing cost-cut¬≠ting oppor¬≠tu¬≠ni¬≠ties to con¬≠vert com¬≠pa¬≠nies‚Äô dri¬≠ver reim¬≠burse¬≠ment pro¬≠grams into vehi¬≠cle leas¬≠ing pro¬≠grams
  • Lease Ver¬≠sus Pur¬≠chase: Deter¬≠min¬≠ing whether leas¬≠ing or own¬≠ing vehi¬≠cles is the most cost effi¬≠cient way to man¬≠age a spe¬≠cif¬≠ic company‚Äôs fleet
  • Right Siz¬≠ing: Eval¬≠u¬≠at¬≠ing fleet needs and vehi¬≠cle usage require¬≠ments to main¬≠tain a fleet that max¬≠i¬≠mizes fuel cost sav¬≠ings while min¬≠i¬≠miz¬≠ing main¬≠te¬≠nance costs and deploy¬≠ing vehi¬≠cles that bet¬≠ter meet dri¬≠ver needs.

‚ÄúAs fleet costs remain a crit¬≠i¬≠cal com¬≠po¬≠nent of com¬≠pa¬≠nies‚Äô oper¬≠at¬≠ing bud¬≠get, fleet man¬≠agers con¬≠tin¬≠ue to be respon¬≠si¬≠ble for cut¬≠ting costs while main¬≠tain¬≠ing seam¬≠less logis¬≠tics and oper¬≠a¬≠tions,‚ÄĚ Ken John¬≠son, Man¬≠ag¬≠ing Direc¬≠tor Strate¬≠gic Con¬≠sult¬≠ing and Fleet Man¬≠age¬≠ment Solu¬≠tions at GE Cap¬≠i¬≠tal Fleet Ser¬≠vices. ‚ÄúWe strive to pro¬≠vide our cus¬≠tomers cut¬≠ting-edge prod¬≠ucts paired with strate¬≠gic know-how that allows them to achieve opti¬≠mal return on their fleet invest¬≠ments.‚ÄĚ

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