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Trucking fleet
Essential fleet tire management tips for optimized performance and safety
With 15.6 million vehicles sold in the United States in 2023, the health of the tire market is critical to the fleet transportation economy. The value of the tire market alone is expected to experience a 6.50% compound annual growth rate (CAGR), with the commercial fleet segment expected to have the highest CAGR. Tire management is important for your trucking business and for protecting your bottom line.
Fleet tire management: Why does it matter?
Tires are a consistent repair and maintenance expense for commercial fleets today. With raw material costs on the rise, there is a level of volatility in the tire market. Add in the rising costs of ocean freight and the problem is compounded.
Still, the importance of fresh commercial tires in fleet operations cannot be understated, as they help:
- Reduce downtime: Keeping an appropriate stock of tires and ensuring they are in good condition helps to minimize vehicle downtime. Quick access to replacement tires means that vehicles can be back on the road faster after a tire issue, maintaining fleet productivity.
- Optimize fleet performance: Tires directly affect vehicle performance, including handling, braking, and fuel efficiency. Properly managed tires ensure optimal vehicle performance, leading to better overall fleet efficiency.
- Control inventory: Effective tire stock management helps in maintaining an optimal inventory level, avoiding both shortages and excess stock. This ensures that the fleet is always equipped with the necessary tires without tying up too much capital in inventory.
- Improve driver confidence: Knowing that their vehicles are equipped with well-maintained tires can boost confidence and therefore driver safety.
Thankfully, there are several strategies a fleet manager can use to gain control over their tire stock and experience these benefits firsthand.
6 steps to take control of your fleet tire stock
Taking control of your tire inventory takes more than a logistical mindset. These six steps can help you create and maintain an efficient, effective tire management strategy to reduce costs and improve safety.
Step 1: Invest in quality fleet tires
Fleet managers understand that prices will most likely go up before they come down. Investing in quality tires today can help lessen the impact of rising tire prices over time. What’s more, with an appropriate amount of high-quality tires in your inventory (not too many, not too few), you’ll be better able to prepare for emergencies.
As you build your tire inventory, keep in mind the value associated with each tire brand, including the built-in technology, warranty, extent of the product line, availability, and the national dealer network.
Step 2: Coordinate fleet tire stock with your dealer
You cannot assume a dealer will have the tires your fleet needs. Coordinating with your tire dealer will help alleviate any potential supply chain challenges to ensure you get what you need when you need it.
Let your dealer know that you need an inventory of particular tires, if they cannot locate your preference, they’ll more than likely be able to recommend great alternatives.
Step 3: Join a National Account Program for deep discounts
Fleet management specialists offer substantial tire discounts on several quality brands and can even locate alternatives if the exact tire you’re looking for is unavailable. Discounts can range from $40 to $100 or more per tire, depending on the brand.* That adds up to huge savings annually for any size fleet.
WEX offers discounts nationwide at dealerships in its network and can even help you procure the tires you need to keep your vehicles running and stay well-prepared even under the most challenging market conditions.
According to WEX tire specialist Shawn Galliett, special fleet pricing can significantly reduce your overall tire spend. For example, discounts can provide an average savings of $960, or higher, per vehicle per year depending on the size of your fleet.* This is based on replacing 12 tires annually per truck.
Step 4: Keep up with regular maintenance on your fleet of vehicles
Fleet owners and managers understand that regular and preventive maintenance on all vehicle equipment is a priority when looking for fleet maintenance savings — tires included. So, if you haven’t considered the benefits of implementing a tire maintenance schedule:
- Extended tire life: Regular maintenance procedures, such as tire rotation and wheel alignment, help distribute wear evenly across all tires to maximize their lifespan and lower replacement frequency.
- Enhanced safety: Properly maintained tires ensure adequate traction and stability, reducing the risk of accidents caused by tire-related issues such as blowouts or tread separation.
- Improved fuel efficiency: Well-maintained tires with adequate tread depth and inflation levels contribute to better fuel economy, saving on fleet fuel costs.
Establish a structured maintenance schedule that includes routine inspections and servicing intervals for all fleet vehicles, which should include regular tasks such as:
- Visual tire inspection
- Tire pressure check
- Tire rotation
- Wheel alignment
Step 5: Purchase tires for your fleet with integrated electronics
Most manufacturers today offer integrated electronics in the tire. Bridgestone, for example, partnered with Microsoft to develop the first real-time Tire Damage Monitoring System (TDMS), and Continental has a powerful Tire Pressure Monitoring System (TPMS) as well. These systems increase the lifespan of tires, and TDMS can even help reduce accidents by alerting drivers about road hazards. Both systems monitor tire pressure.
Sensors embedded in the rubber can measure everything from tire pressure and tread depth to temperature changes in the tire and the road. Tire monitoring technology is developing steadily, promising to decrease wear and tear and increase overall fuel efficiency over time.
Step 6: Real-time data collection helps prevent unwanted work stoppages or other costly errors
Collecting fleet and tire data in real time helps companies better track the overall day-to-day efficiency of their operations. Nowadays, many fleets have access to technology that helps diagnose and forewarn about potential failures. Things like under- or over-inflated tires, low treads, and slow leaks can cause unnecessary wear and tear that can significantly shorten tire lifespan.
Take this common mistake for example: Mounting the wrong tire for the truck, leading to poor performance and potential road accidents. These maintenance problems can cause unnecessary risk and downtime, costing your business money. With the range of digital tools available today, your entire fleet can get the most out of your tire stock by regularly checking diagnostics across all of your vehicles.
With the ability to automatically capture your truck’s data, you have much more control over your fleet’s performance and savings. When your diagnostics pick up things like uneven or accelerated tire wear or tire failures, they can help pinpoint the root of the problem—which may be something mechanical such as suspension or alignment problems.
The ability to examine overall fleet data gives you the tools to begin predicting maintenance issues before any maintenance is actually required, reducing your overall tire spend while anticipating future needs.
Better manage your trucking business with WEX
While you’re saving on expenses and optimizing fleet operations, you’re also monitoring the safety of your fleet on an ongoing basis. Here’s an added benefit: The fewer accidents and delays on the road, the more you can maximize your profits and reinvest them back into your company.
The ability to properly manage the tire stock for your fleet of commercial trucks can save you thousands of dollars each year. The WEX savings network, for instance, offers exclusive discounts on tires and many of the other ancillary costs that keep your fleet business moving with ease—including fuel, hotels, and wireless services. When you’re managing a business and its budget, every dollar matters.
To get in touch, the savings network page and click the big red button.
Learn more on how to better manage your over-the-road fleet:
To learn more about WEX, a dynamic and nimble global organization, with expertise in fuel management, please visit our About WEX page.
All fleet cards are not the same, and different types of fuel cards suit the needs of different kinds and sizes of businesses. View WEX’s fleet card comparison chart to see which fleet fuel card is right for you.
Sources:
Tires Easy
Fleet Equipment Magazine
Statistica
Tire Business
Marklines
Credence Research
CNBC
Editorial note: This article was originally published on February 22, 2023, and has been updated for this publication.
*Tire discounts will vary and are determined by individual tire sellers depending on various factors outside of your fleet management specialists’ control such as time of year, location, size of fleet, and type of tire purchased.