Fleet life cycle management includes the process of acquiring, monitoring, replacing, and de-fleeting your commercial vehicles. It refers to the decisions you make to get the most value out of your commercial vehicles. It’s an essential aspect of fleet management that involves computing your vehicles’ total operating costs, including their purchase prices.
Besides the initial price, fleet life cycle management takes into account the costs for licensing, insurance, fuel, maintenance, and parts replacement. It also includes administrative expenses, vehicles’ resale value, downtime due to repairs, and other productivity losses.