Element Fleet Management > Case Studies > Strategic Consulting uses business intelligence tool to dig for deeper savings

Strategic Consulting uses business intelligence tool to dig for deeper savings

Customer Company Size

Large Corporate

Region

America

Country

United States

Product

Element’s Xplore tool

Tech Stack

Business Intelligence

Implementation Scale

Enterprise-wide Deployment

Impact Metrics

Cost Savings

Technology Category

Analytics & Modeling - Big Data Analytics

Applicable Industries

Oil & Gas

Applicable Functions

Logistics & Transportation

Use Cases

Fleet Management

Services

Data Science Services

About The Customer

The customer is a leading oil and gas pipeline company with a total fleet size of 8,000, 86% of which are light trucks. The company utilizes various services including accident, financing, fuel, and maintenance. The company had set an initiative to cut costs by 1 cent per mile within its department. The cost-saving measures had to be reasonable to implement and not hinder current business processes.

The Challenge

A director at a leading oil and gas pipeline company set an initiative to cut costs by 1 cent per mile within his department. The cost-saving measures had to be reasonable to implement and not hinder current business processes. The company needed to find a way to analyze their enormous amount of fleet data to uncover potential savings opportunities and recommend a course of action to achieve the desired results.

The Solution

Element Fleet Management conducted a series of collaborative sessions with the company’s fleet manager to uncover potential savings opportunities and recommend a course of action to achieve the desired results. During these sessions, they used the dynamic capabilities of Element’s Xplore tool to filter through the enormous amount of fleet data and analyze the customer’s real-time data. These collaborative sessions took advantage of Strategic Consulting’s expertise in best practices and the fleet manager’s internal knowledge of the fleet to produce actionable recommendations. They recommended the customer eliminate specific underutilized vehicles that did not serve business needs. They also recommended the customer promote use of National Accounts specifically for tire purchases and oil changes to take advantage of lower costs, as well as take advantage of CNG capabilities in existing vehicles to lower fuel costs.

Operational Impact

The company was able to identify underutilized vehicles that did not serve business needs and eliminate them.
The company was advised to promote the use of National Accounts specifically for tire purchases and oil changes to take advantage of lower costs.
The company was recommended to take advantage of CNG capabilities in existing vehicles to lower fuel costs.

Quantitative Benefit

The total potential savings identified exceeded the requirement of 1 cent per mile and delivered a potential 2.3 cents per mile savings.
This is equivalent to $115,000 in total annual savings (or 4.2% of the customer’s fleet spend).