Why Should You Monitor Your Fuel Usage?
As a business owner or operations manager, you know how important it is to monitor the usage and performance of your equipment. But monitoring your equipment usage isn’t enough: You’ve also got to monitor your fuel consumption. Doing so has its obvious and not-so-obvious benefits. Here are all of the reasons that you should be monitoring your on-site fuel use.
ALWAYS KNOW WHEN TO SCHEDULE A FUEL DELIVERY
This is the most obvious benefit of monitoring your fuel usage: it tells you when you need to order more. If you run out of diesel, whether through oversight or negligence, then your business can grind to a halt. Monitoring puts you ahead of the curve so that you never run out, removing the potential for downtime. Knowing exactly how much fuel you have on hand (and how much capacity you have free) also helps you capitalize on low prices when they appear.
KNOWING REGULAR USAGE LETS YOU SPOT DISCREPANCIES
When you know what regular fuel consumption looks like for your operations, it becomes easier for you to spot discrepancies and oddities. Things like nighttime or weekend refuels, if out of the ordinary for your business, could indicate fuel theft; a sudden spike in fuel consumption could indicate something wrong with your vehicles or heavy equipment. Knowing what normal looks like means you can act when something abnormal happens.
MONITORING ALLOWS YOU TO TIE FUEL CONSUMPTION TO SPECIFIC PROJECTS
If your operations work on a single project at a time, monitoring your fuel means that you can accurately track project expenses. By knowing exactly what your fuel cost is per project, you know what your exact return is when the project is complete. If you find your returns are too low, then you are either spending too much on your expenses (including fuel use) or you aren’t charging enough for your services. If the former is true, then you can put practices in place to limit your fuel and materials cost; if the latter is true, you know to increase your prices moving forward. Either way, you’ll add a nice boost to your bottom line.
MORE KNOWLEDGE = MORE PROFIT
Ultimately, monitoring your fuel consumption will help you cut costs, prepare for the future needs of your business, and increase your profits. That’s something everyone should get behind.