What are the best practices for leasing and procuring a fleet?

Create a Budget: Develop a comprehensive budget that includes the cost of vehicles, maintenance, insurance, fuel, and other associated expenses. Consider financing options and determine how you'll fund the fleet (e.g., leasing, purchasing, or a mix of both) Most of the organisation works on a mix model.

In my experience. The first thing is to do is getting a specification from client on which type of truck is meant to be provided. Another is too look at the vehicle chosen and its durability in one's environment. This is important because of spare parts, level of the ground to the tractor radiator and so on Similarly, one is to look at the costs associated and compare the prices for better judgement. The cost includes loan finance cost (if need be), operational cost forecast, maintenance cost forecast, fuel cost etc

Determine your needs. The first step is to carefully consider your fleet needs. What types of vehicles do you need? How many vehicles do you need? How long will you need the vehicles for? What features are important to you? Research your options. Once you know your needs, you can start researching your options. There are many different ways to lease or purchase a fleet, so it's important to compare different options to find the best one for your business. Get quotes from multiple vendors. Once you have a good understanding of your options, get quotes from multiple vendors. This will help you to ensure that you are getting the best possible deal. then, Negotiate term and conditiond for payment that will be flexible for you.

Depending on the contract, negotiating a good contract is very important. Details such as fixed and variable cost, insurance renewal cost, contract lifecycle and operational costs are all dependent on good negotiated contracts. Thus, engaging experts and legal luminaries is not a bad idea

Tracking costs is very important for business decision. It helps to determine trends, patterns and anomalies. For example high maintenance cost on a truck presupposes a big issue which will in turn eat up the revenue.

Tracking cost enables evaluation of the cost of ownership. Costs like purchase price, maintenance costs, fuel costs and any other cost that arises from ownership.

Even more important if you're planning to be acquired in the future. Data organized on spreadsheets and dashboards are easily accessible and presentable- folder full of receipts is not.

In maintaining quality, preventive maintenance policy and corrective maintenance policy have to follow OEM standards. The spare parts, the technicians to work on them and the quality assurance engineers have to understand maintenance policy. This is where proper and understandable policy is put in place.

Consider working with a fleet management company who will review your fleet on schedule. Changes are frequent in the industry (rates, vehicle availability, etc.) so it's important to have an outside perspective to effectively plan ahead and stay up to date on market trends.

I can only talk on procurement of fleet trucks First and foremost is your installed capacity, ie planned products to be transported. This greatly determines the number of trucks and carrying capacity of each truck The installed capacity of the production line will determine the daily trucks requirements The turn around time of delivery especially the market with the best market or warehouses. The road conditions to some effect will influence your plan for trucks May be the nature of goods, wet products or dry cargo, petroleum products and cement or bagged goods or iron rods Are you planning for direct market supplies or use of warehouses. This will determine the number of trucks you require to meet the market demands