Business Analytucs In Fleet Management Essay

918 words - 4 pages

Rushabh Vedia
Application of Analytics in the Transportation Industry’s Fleet Management Abstract The reference article, ‘Leveraging Analytics in Transportation to Create Business Value’, discusses problems concerning some disciplines in the transportation industry and showcases how analytics could be used to create business value by citing real life examples. The article focuses on how analytics derive business value concerning the transportation industry by studying cases pertaining to rail, trucking and airline. This paper is aimed to discuss an industry’s problem and how application of analytics provides a feasible solution to the problem. The Industry & Analytics Relevance The ...view middle of the document...

For simplicity, the article contains itself to discussing 9 operational cost involved in maintain fleets used in rail, trucking and airline. The purpose of doing so stems from the fact that transportation companies invest billions of dollars to make, repair and maintain fleets. It also gives a huge opportunity for applying analytics in order to reduce such explosive operational costs. One of the important data that the article cites is the scheduled maintenance of the fleets for the transportation industry using applications of analytics. The Cost Drivers In order to evaluate how analytics could provide a system to reduce the operational costs, it is important to understand cost drivers that run in maintenance of these fleets. First, all metal and metallic components used in making the fleet undergo wear and tear due to numerous factors such as climate, usage and age. Fleets with engines will have higher wear and tear compared to fleets without engines. Unhearing to handle the repair on time would lead to breakdowns and eventually replacing one or many parts in conjunction with that part. Second, the lengthy time frame developed in order to have routine checkups of the fleet leads to higher involvement of costs as necessary components would be avoided if faults are not accurately checked. Third, to avoid the earlier problem many companies schedule maintenance cycles very frequently, a major drawback in reducing maintenance costs for such fleets. The Application of Analytics Analytics application accurately indicates the mix in which the maintenance of fleets could be conducted. This benefits transportation providers to have optimum cycle of maintenance, proportions of cost involved and tracking system of conditions of fleets overall. A simple model in analytics would just require data of the equipment currently used or would be purchased to keep a track of their lifespan. The...

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