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Leasing vs. Equipment Rental
Technology Category
- Functional Applications - Fleet Management Systems (FMS)
Applicable Functions
- Logistics & Transportation
Use Cases
- Fleet Management
Services
- System Integration
The Challenge
The customer was looking for a way to reduce the total cost of its material handling equipment used in its warehouses across the country. The customer’s corporate office had no visibility into its forklift inventory or related costs within each of its 80 branch locations. Several branches have low asset usage needs and believed rentals were a better option than leasing new equipment.
About The Customer
The customer is a business services company that operates a service fleet. The fleet consists of 150 forklifts spread over 80 branch locations. The company utilizes a variety of services including accident service, financing, fleet partnership, maintenance, personal usage & expense tracking, rental, telematics, and title, licensing & registration.
The Solution
As part of the fleet implementation, Element Fleet Management gathered and analyzed the client’s equipment inventory – something that had not been done before. They identified three branches where high cost rentals were being used. Their equipment experts located/purchased forklifts that fit their specific needs, while focusing on providing leasing options that cost less than current rental fees.
Operational Impact
Quantitative Benefit
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