Leading industry research organization cites VMRS reporting by Decisiv in its 2023 update to An Analysis of the Operational Costs of Trucking
GLEN ALLEN, Va., July 6, 2023 /PRNewswire-PRWeb/ -- Decisiv, Inc., the industry leader in Service Relationship Management (SRM) solutions, announced today the American Transportation Research Institute (ATRI), a trucking industry not-for-profit research organization, has featured its VMRS data in their 2023 update to An Analysis of the Operational Costs of Trucking report.
The highly regarded ATRI research, based on information from a record number of motor carriers, analyzes a wide variety of costs, operating efficiencies, and revenue benchmarks by fleet size and sector.
In their latest update, ATRI noted that truck operating costs in 2022 were above $2 per mile for the first time in the report's 15-year history, and "while much of the increase was due to high fuel costs, multiple other cost centers increased by double-digit percentages as well, including repair and maintenance."
Repair and maintenance costs rose in 2022 by 12 percent, according to ATRI. Citing the Decisiv/TMC North American Service Event Benchmark Report on parts and labor costs (Q4 2022), they reported that "ATA's TMC and Decisiv similarly found that combined parts and labor expenses rose by 13 percent between Q4 2021 and Q4 2022.
"TMC and Decisiv have reported declining parts costs and only moderately increased technician labor costs for two quarters in a row, Q4 2022 (when combined parts and labor costs fell by 0.9%) and Q1 2023 (when combined parts and labor costs rose by just 0.7%)," the ATRI report added.
"ATRI reporting and our analyses are valuable resources for fleets, especially in uncertain economic times," said Dick Hyatt, President and CEO of Decisiv. "We're pleased that ATRI has incorporated data from the Decisiv/TMC Benchmark Report in their 2023 update to An Analysis of the Operational Costs of Trucking. That further showcases how our VMRS service cost analysis can better enable fleets to proactively plan and manage service expenses."
Decisiv and the American Trucking Associations' Technology & Maintenance Council (TMC) jointly publish the quarterly Decisiv/TMC North American Service Event Benchmark Report on parts and labor costs. The reports show where fleets spent more than 60% of parts and labor costs based on TMC's Vehicle Maintenance Reporting Standards (VMRS).
Starting with Q1 2023, the report has been expanded to account for more than 96% of the parts and labor costs by broadening the scope of the reporting to cover the top 25 VMRS system codes. The quarterly analyses, sorted by VMRS-coded vehicle systems and geographic location, are generated using data from the Decisiv SRM platform on service and repair events for more than seven million commercial assets and over 300,000 monthly maintenance and repair events.
Copies of An Analysis of the Operational Costs of Trucking are available from the American Transportation Research Institute. ATRI, the trucking industry's 501c3 not-for-profit research organization, is engaged in critical research relating to freight transportation's essential role in maintaining a safe, secure and efficient transportation system.
About Decisiv, Inc.
Virginia-based Decisiv is the provider of the largest asset service management ecosystem for the commercial vehicle industry in North America, delivering intelligent asset service management for improved utilization, performance, security, and compliance. The Decisiv Service Relationship Management (SRM) platform is the foundation for over 5,000 service locations and over 74,000 fleets across North America that manage more than 4 million service and repair events for commercial vehicles annually. The Decisiv SRM Ecosystem acts as the system of orchestration that uniquely connects dealers, service providers, OEMs, component manufacturers, and fleets by delivering critical in-context, actionable data at the point of service. This unrivaled level of data connectivity and collaboration drives more intelligent, effective service and enables asset owners and managers to proactively plan and manage maintenance across the entire lifecycle of every asset. For more information, visit http://www.decisiv.com
Media Contact
Mark Wasilko, VP Marketing, Decisiv. Inc., (804) 762-4153, mwasilko@decisiv.com
SOURCE Decisiv. Inc.
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