Are fuel price rises impacting your business?
Fuel prices have increased 21 times in 2021, with diesel prices increasing by ₹ 6.08 per litre. By the end of July, diesel was priced at ₹ 89.93 per litre. The rise in fuel prices will have a devastating impact on the economy, which is still recovering from the Covid-induced crisis. According to the Economic Times, transporters and freighters are seeking a 10-15% freight cost increase, primarily due to low margins. Profits have decreased while fuel costs remain at an all-time high, contributing to about 50% of total operational expenses.
An All India Study* reports that the transport sector consumes 70% of diesel, followed by agriculture (about 13%). The remaining 17% comprises industry (9.02%), mobile towers (1.54%) and others (6.45%) including gensets for non-industrial purposes, civil construction, etc.
Fleet managers can’t control fluctuating fuel costs, but they can properly track fuel usage to achieve a reduction in fuel consumption. Smart fuel monitoring solutions aid efficient fleet management and improve fuel savings.
Telematics trends 2021: Are you ready?
Manually collecting fuel data, lost receipts, human error and/or intentionally distorted data results in inaccurate budgeting and inefficient resource management.
It is time for businesses in India to add fuel monitoring to telematics solutions and get transparent real-time data to monitor refills, pilferage, vehicle idling, harsh driving, and even vehicle performance and scheduled maintenance.
Take control of fuel operations and start saving money with Omnicomm advanced fuel monitoring solution!
What is Omnicomm fuel monitoring solution?
With over two decades of industry experience, Omnicomm is a leading manufacturer and developer of IoT-based fuel management solutions.
Omnicomm fuel-level sensors are the most accurate and reliable in the market, with an 8-10 year lifespan and the highest ingress protection rating (IP69K) making them suitable in the toughest conditions. The new Omnicomm LLS 5 sensors include Fuelscan technology that automatically adapts to fuel changes while maintaining 99.5% accuracy. Unique Fuelmetrix technology filters noise in fuel data due to vibrations.
Omnicomm products work with Omnicomm’s advanced fleet monitoring and analytics platform (Omnicomm Online) as well as third party software, and are customisable according to the customer’s needs.
OMNICOMM partners (FMS providers, ERP vendors, IoT SDP vendors) serve customers in industries including logistics and transportation, railroads, telecommunications, oil and gas, ships and vessels, mining, agriculture and construction. Omnicomm partners benefit from reliable and durable equipment, lifetime support, seamless integration, excellent training and sales support.
Through its legendary fuel sensors and robust fuel APIs, Omnicomm is creating an ecosystem of fuel and energy saving solutions for diverse industries.
Road construction machinery: Saving fuel and improving agility for 6 of top 10 road construction companies in India
Omnicomm’s partner Locate 360 develops industrial asset tracking and productivity improvement solutions for several leading NHAI contractors. Omnicomm’s sensors and fuel APIs monitor receipts, issues and consumption throughout the fuel supply chain at remote sites, enabling Locate 360 to create a cost index for every operational asset. Site operation managers can identify and redeploy unused assets, check fuel pilferage and track production costs, while contractors report 20-30% fuel savings.
Heavy lifts and cranes: Fuel monitoring helps manage fuel costs.
Barkat Cranes, a leading crane rental company in India, faced rising fuel costs and a lack of transparency in fuel usage data from far-flung stationary assets. Omnicomm’s partner RTG Trackers developed a customised fuel monitoring solution, using Omnicomm’s technology to validate refuelling and consumption. The client immediately identified inefficiencies and saved up to 300+ liters of fuel per crane per month. Transparent fuel data improved asset planning and management. RTG and Omnicomm have deployed solutions for heavy lifts across more than 50 locations in India.
Telecom towers: 25-30% fuel savings and 5-10% less electricity consumption for leading Indian mobile service provider
A mobile tower consumes 5-15KW of electricity and up to 1,000 litres of fuel every month. About 40% of towers have a backup battery bank and diesel generators. Omnicomm India has teamed up with energy analytics partner Mindshift Analytics to develop a telecom tower energy monitoring solution for a leading mobile service provider in India. Omnicomm fuel sensors mounted on diesel generators work with IOT gateways to continuously monitor and consolidate data in the cloud, providing complete visibility of fuel and energy consumption, DG set efficiency and battery efficiency. This has resulted in fuel savings of 25-30% and further energy savings of 5-10%. Using ML algorithms to detect anomalies early, infrastructure managers can plan advance replacements, optimize workforce journeys and prevent catastrophic site outages.
Conclusion:
Monitoring fuel is more crucial than ever before. Efficient fuel usage contributes to savings, which in turn increases profitability.
Omnicomm fuel monitoring solutions provide essential data-driven insights and tools to drive business optimization, efficiency, cost reductions and the ability to stand out from the competition.
*Study was conducted by M/s Nielsen (India) Pvt Ltd for Petroleum Planning and Analysis Cell (PPAC) of Petroleum Ministry
Published in Telematics Wire
