Managing rental assets in fuel distribution is like having your delivery trucks
Managing rental assets in fuel distribution is like having your delivery trucks on the road but your GPS and accounting systems are both down - you've got expensive equipment out there, but good luck knowing where it is or if it's making you money. Whether you're tracking 28 tanks or thousands, two questions keep fuel marketers up at night: where is everything, and is it generating the expected returns?
The Real Challenges in Equipment Management
Most fuel marketers are still running their rental equipment business like it's 1985 - scribbling notes on delivery tickets, keeping equipment records in someone's trusty (but slightly coffee-stained) notebook, and relying on Bob from dispatch to remember which customer has which tank. If that sounds familiar, you're not alone.
Using paper-based systems and spreadsheets might get the job done, but every day you're burning through hours and dollars trying to piece together all the information.
If you're still using manual systems, you're likely facing these daily challenges:
Tracking Troubles:
Equipment moves between customer sites with limited visibility
Drivers and dispatchers waste time confirming equipment locations
Documents related to equipment movements get lost or are hard to find
No clear system for tracking peripherals like pumps, nozzles, and monitors
Profitability Questions:
Your rental equipment is sitting at customer sites like poker chips on a table - but you're not sure which ones are winning and which are losing you money. You don't know if you need to adjust margins, change tank sizes, or reduce delivery frequency. For example, a 1,500-gallon tank might only receive 100 gallons every other day, while a 750-gallon tank requires 500 gallons daily. Without proper tracking, you're missing opportunities to optimize your equipment deployment and delivery schedules.
How FleetPanda Solves Both Challenges
1. Complete Equipment Visibility
Create detailed movement orders specifying tank size, type, and peripherals
Track equipment location and movement history in real-time
Attach and store all equipment-related documents digitally
Use QR codes for quick equipment identification in the field
2. Smart ROI Calculations
Carl Kleimann, the co-owner of Moffitt Services explains how this works:
"When a customer orders a tank, we record all those peripherals right in FleetPanda. It knows the cost associated with each of those peripherals, knows the margin... and so it gives us a way immediately to now go back. We can store that initial estimate, by the way, which can be fun reading sometimes, or maybe not so fun what the salesperson thought the ROI was going to be.You know, this thing's gonna pay back in six months and instead it's six years, right?”
The insights you get are game-changing. As Stephanie, the President from 3L Energy Solutions points out:
"With the asset management piece, you can see if your ROI is being met, so maybe the seller needs to go up on margin, or you're taking too many small deliveries, so maybe they need a different tank, or maybe they need a bigger tank, maybe they need a smaller tank."
3. Field Operations Made Simple
Drivers access all equipment details through the mobile app
Pre-trip and post-trip activities are streamlined
Equipment scanning ensures accurate data collection
Works offline in areas with no cell service
Making Data-Driven Decisions
With FleetPanda's rental asset management, you can:
Track equipment location and movement history in one place
Calculate and monitor ROI on each piece of equipment
Right-size tanks based on actual usage data
Make informed decisions about equipment purchases
Optimize delivery schedules and routes
How FleetPanda’s Rental Asset Management Works
Here’s a sneak peek into how the module works.
1. Order Well: The Hub for Asset Movements
The Order Well feature allows you to place orders for moving rental assets—either sending them to a customer or picking them up.
Dispatchers can create detailed orders and assign rental assets directly within the system.
Every asset movement is logged for easy tracking and future reference.
2. Rental Assets: A Digital Ledger of Your Equipment
The Rental Assets module maintains a list of all assets with critical details, including:
Tank type, size, and capacity
Assigned customer and location
Peripherals like hoses, nozzles, and monitors
Historical usage and movement records
Status updates for active, idle, or scheduled pickups
3. Peripherals: Keep Track of Every Component
Every additional component—whether it’s a hose, monitor, or nozzle—is tracked alongside the main asset.
Each peripheral is categorized with ERP ID, legal description, and status to ensure accurate billing and inventory management.
4. Automated Order Processing & Assignment
Once an asset is set up in the system, orders are created for drop-offs or pickups.
Orders appear in the Order Well, where they can be assigned to drivers and completed through FleetPanda’s mobile app.
The system logs exact latitude and longitude coordinates, ensuring precise drop-off locations.
5. Real-Time ROI Insights
Every rental asset has an associated cost, margin, and utilization history.
With FleetPanda, distributors can instantly see if an asset is delivering the expected ROI.
Need to adjust margins or switch tank sizes? The system provides data-backed insights to optimize profitability.
6. Movement & Utilization History
The Utilization History module tracks the efficiency of each asset, showing its deployment, usage, and contribution to revenue.
The Movement History feature records every asset transfer, giving you a complete picture of where your equipment has been and where it’s going.
The Bottom Line
Running your rental assets with manual systems is like trying to navigate cross-country with a stack of outdated maps - you might eventually get there, but you'll waste a lot of time and money along the way. Why do that when you could have real-time visibility and clear ROI tracking at your fingertips?
This isn't just about better organization - it's about transforming rental assets from a tracking challenge into a profit center. You get real-time visibility into where your equipment is and whether it's making you money, plus the tools to optimize both.
Ready to stop guessing and start knowing? Book a demo to see how FleetPanda can help you master your rental asset management.
