Automotive Fleet Management Key Terms

Learn the terms you need for fleet asset management

Fleet management is one type of asset management that is necessary if your business uses an automotive fleet for business operations. Fleet management incorporates a wide range of tasks, such as fleet tracking, maintenance management and remarketing fleet vehicles. Fleet management software can help your company consolidate all of the aspects of fleet management that you need to track and analyze over time to make informed business decisions. A number of wireless communication services also accompany software programs to provide additional security and communication networking within your fleet.

Fleet management software

Fleet management software is a type of computer program used by businesses to update vehicle inventory, document maintenance schedules, conduct cost analysis of fleets, track fleet travel and calculate gas usage.

Asset management

Asset management involves decision-making regarding the best use of a company's assets, including their automotive fleet. Assets can be bought, sold, leased, and more.
US Department of Transportation Federal Highway Administration.

GPS tracking system, global positioning system

A GPS tracking system, which stands for Global Positioning System, allows satellite tracking of vehicle locations. Two types of GPS tracking used by fleet management systems are real-time GPS, which tracks vehicles moment-to-moment, and passive GPS, which provides a digest of vehicle location information at the end of the business day.

Telemetry

Telemetry is a communications process for transmitting data from remote locations to a central information hub. Telemetry was originally conducted by wire, but can also include radio and wireless communications, as with many communications networks used by vehicle fleets.

Preventive maintenance

Preventive maintenance is a process for record-keeping and maintenance scheduling designed to keep a fleet of vehicles operating cost effectively, by fixing potential problems before they actually happen. Preventive maintenance and its cost benefits can be managed using vehicle management software.

Remarketing

Remarketing is the selling of used vehicles or other products that have been leased or used by a company for a period of time, and are still functioning well. Fleet vehicles are often remarketed to individual consumers or to smaller companies, especially when sold as a fleet, rather than as individual vehicles.

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