OUR LATEST INSIGHTS

Up to date, high-level business information that is relevant to our clients and contacts, helping keep up to date on the ver-changing business world of today.

Learn More

Cal Wilson / August 12, 2022

Growing your Bottom Line by Minimizing Fuel Costs

Anyone whose livelihood depends on them being on the road for extended periods knows the costs associated with being away from home can add up quickly. Food, lodging, and especially fuel are significant expenses. Indeed, fuel is the top variable expense for any fleet — often equating to  more than 75 percent of a fleet’s variable expenses.

A fleet of 500 vehicles, each driving 24,000 miles per year, accumulates 12 million total miles annually. With numbers this large, even a small change can mean big savings. In fact, if they could reduce their bills by a mere quarter of a cent per mile, this fleet would save $30,000 next year.

Due to the volatile nature of fuel prices, getting your costs as low as they can and keeping them there is very important to any trucking company. Here are some ways you can do just that:

Fuel Management Tools and Cards

Understanding your fueling patterns is important and can allow you to properly address your fuel efficiency. Often paired with traditional electronic logging devices, fuel management software can help you track how fuel is purchased, how to schedule your maintenance, and how to plan the most efficient routes. Plus, you can use them to highlight areas of high fuel consumption or difficult track, as well as fight potential theft.

Fuel cards are also excellent tools to stop abuse in its tracks, allowing managers to track fuel purchases and eliminate non-fuel purchases if they need to. They can even be used to specify the types of fuel drivers  can put in their vehicles, cutting fuel costs and saving on maintenance down the line.

Driver Behavior and Practices

There are plenty of ways that a driver can save money on fuel, simply by how they choose to operate the vehicle. Taking advantage of fuel-saving options like cruise control, cutting out unnecessary time spent idling, and reducing top-end speed can all impact your bottom line.

Driver coaching programs can teach your drivers how to avoid jackrabbit starts and anticipate stops in advance. Many companies even provide driver incentive programs to reward those who focus on implementing best practices to cut costs down the line.

Equipment and Proper Maintenance

There are tons of options you can invest in if your goal is to save your fleet cash in the long run. Aerodynamic-focused equipment such as wheel covers, gap reducers, and trailer wings can increase your fuel efficiency at relatively low cost, while a focus on fuel-efficient truck designs, high-efficiency alternators and the latest safety technologies can be more expensive, but even more impactful.

When it comes to regular maintenance, even the simplest checks can help reduce your overall fuel costs. Ensuring you keep accurate tire pressure as well as proper rotation frequency and position on your vehicles reduces the chance of bad tires hurting your fuel economy. Additionally, keeping your air filters clean will both limit exhaust emissions and overall increase your fuel efficiency.

If you’re really looking to save cash on your fuel expenses and you have the time and expertise required, fuel rebates and proper fleet card and service negotiations can grow your bottom line before any of your drivers even turn over the engine.

Cal Wilson / August 11, 2022

Check out Furbaby Pet Care!

Furbaby Pet Care is Saskatoon’s only 24/7 pet care facility. They have 9,000 sq ft of indoor space and 6,500 sq ft of outdoor play space. Lots of room for Rover to roam! They also have unique services such as canine massage and pet taxi. Their team is dedicated to giving the highest level of care and ensuring every detail is covered. Check them out!

Cal Wilson / August 10, 2022

Companies Start to Lean More on Cost Savings Amid Persistent Inflation

According to the Wall Street Journal, “Companies are taking steps to cut costs and improve efficiency after many of them relied more on boosting prices in recent quarters to offset inflation and bolster their bottom lines.”

You can read more of of what they have to say, here.

Schooley Mitchell helps businesses reduce operational expenses and grow their bottom lines, keeping them strong even in the midst of economic hardships.

Cal Wilson / August 10, 2022

Solving The Need To Cut Costs In IT And Engineering Services In A Recession

According to Forbes, “Typically as we enter recessions, companies look to quickly cut costs; that translates into laying people off and cutting back on hiring. Whereas your company may do that as a whole, CIOs and CTOs should be very thoughtful before they do that in their engineering and IT organizations because there likely will be continued demand for these services. We are still in a constrained labor market, so once a company lets these people go, it will be very hard to hire them again.”

You can read more of of what they have to say, here.

Schooley Mitchell helps businesses reduce operational expenses and grow their bottom lines, keeping them strong even in the midst of economic hardships.

Cal Wilson / August 10, 2022

Companies Weigh Fresh Cuts as Operating Costs Go Up

According the Wall Street Journal, “Businesses are reducing office space, scaling back on consulting and opting for cheaper packaging of goods as they look to stay ahead of the downturn.

Although companies already were leaning more on cost savings to combat higher inflation, the threat of a recession has prompted a harder look at the finances for some firms.”

You can read more of of what they have to say, here.

 

Schooley Mitchell helps businesses reduce operational expenses and grow their bottom lines, keeping them strong even in the midst of economic hardships.

 

 

 

Cal Wilson / August 10, 2022

Is your school district overpaying for telecom services?

For school districts, increasing costs are stretching budgets significantly. And while federal funding has been helpful as we emerge from the pandemic, those special funds might not be eligible to pay for day-to-day operating costs such as telecom—which is more important, and more complex, than ever.

Rapidly improving technology for telecom (phones, videoconferencing, internet connectivity, and related services) is allowing school districts to streamline systems and potentially realize cost efficiencies. But effective management requires monitoring numerous phone lines and devices, various rate plans which are often changing, and a host of other variables.

Many school districts don’t have the time or the tools necessary to keep track of those variables especially on a line-by-line and a device-by-device basis.  So, they end up overpaying for telecom—sometimes by 40% or more—without even realizing it.

How can you make sure your school district isn’t one of them?

Understanding where you are now

Getting a handle on your telecom environment can be eye-opening. At a minimum, here are the things you need to know to determine whether your district is paying too much:

  • All current systems and vendors (regular phones, cell phones, videoconferencing, internet services, etc.)
  • Rate plans for those systems
  • All lines being used and for what purpose (regular phones, fax lines, elevator lines, alarms, fire, etc.)
  • Differing needs by school, if any
  • External support costs
  • Any available special rate programs
  • Your vendor’s customer service performance
  • The time your staff spends on managing telecom, including reviewing invoices

Answering the key questions

Ultimately, that information will allow you to answer three vital questions:

  • Are our existing telecom services delivering what our schools and students need?
  • Are we paying only for the services we need and use?
  • Are we paying the right amount for those services?

Getting on the right path

This isn’t a one-time task: Even if you’re paying the right amount today, that’s no guarantee you will be tomorrow. Your district must go through this process regularly, because technology, pricing, and your needs all change. The upside, though, is immense—the more your district saves, the more it has to put toward other expenses or enhancements for students.

And the good news is you don’t have to do it alone.

Michael Salazar is a Strategic Partner at Schooley Mitchell, which has been helping school districts and other organizations reduce costs for more than 20 years. Most clients don’t need to change vendors, and only pay fees if savings are found. To learn more about Michael and Schooley Mitchell, please visit his website.

Cal Wilson / July 26, 2022

Check out Lubrication Station!

I recently got my vehicle’s oil changed at locally owned Lubrication Station for the first time. What a great experience! The attendant checked my cabin air filter – no other quick lube shop has ever taken the time to do that. The friendly staff provided valuable insight and did not upsell. I have found my new go to spot!

Cal Wilson / July 14, 2022

Recommendation Letter for Fiber Dynamics

To whom it may concern,

Recently, we have added Fiber Dynamics to our client list at Schooley Mitchell. Instead of struggling with rising costs, they engaged Schooley Mitchell to attack the challenge head on.

During the process, we have found the team at Fiber Dynamics to be very professional and a pleasure to work with. PJ Tos, the General Manager, is eager to grow the business and has made noticeable improvements to the business.

During the tour of the factory, the workforce was very engaged, and the housekeeping was best in class. Both of these attributes are key in assuring they product they build will meet or exceed their customers’ expectations in both quality and delivery.

If you are looking for a best-in-class composite business to supplement your supplier base, I would be sure to give Fiber Dynamics a close look.

Sincerely,

Rod Holter

Strategic-Partner, Schooley Mitchell

Download as PDF.