Fleet Advantage, an innovator in specialty financing, fleet data analytics, fleet management services, and life cycle cost management, announced it has been recognized as a winner of Food Logistics and Supply & Demand Chain Executive‘s 2024 Top Supply Chain Projects award.
This award recognition highlights Fleet Advantage’s innovative contributions to the global supply chain, specifically in transportation and logistics, through its EV Life Cycle Cost Analysis Tool, EVAN (Electric Vehicle Analytic Navigator) .
As Supply & Demand Chain Executive covers the entire global supply chain, and Food Logistics is exclusively dedicated to covering the movement of product through the global cold food supply chain, the Top Supply Chain Projects award annually profiles innovative case study-type projects designed to automate, optimize, streamline and improve the supply chain.
EVAN, part of Fleet Advantage’s Total Cost of Ownership (TCO) Tech Stack, plays a pivotal role in receiving this award. Designed to help transportation fleets optimize their TCO and evaluate the efficacy of electric vehicles, EVAN provides critical insights by comparing diesel and electric Class-8 vehicle costs. The tool incorporates various inputs, such as equipment cost, charging, energy costs, and grants, converting them into a cost-per-mile (CPM) analysis. This allows fleets to make informed decisions about which type of vehicle is more cost-effective for their operations.
EVAN’s importance was also recognized as a 2024 top supply chain project because it is designed to help fleets with the recent changes in fleet procurement cycles and the increasing focus on ESG goals and new regulatory requirements. EVAN has continued to address challenges by offering data-driven insights that help fleets determine the optimal timing for adopting alternate fuel technologies, whether electric or clean diesel.
Fleet Advantage’s model of TCO, data analytics, clean diesel, and safety-enhanced trucks with shorter life cycles has complemented its customers’ ESG goals, and EVAN has already demonstrated significant business impacts. In fact, the EVAN diesel vs. EV cost analysis has revealed substantial savings when operating clean diesel vehicles in different states. In a recent assessment, Fleet Advantage compared a diesel truck with an EV truck and reviewed life cycle cost comparisons in the state of Hawaii and in Florida. In Hawaii, EVAN was able to determine a grocery distribution fleet would save approximately $238,528 per unit on a three-year operating lifecycle for a 2024 model year diesel truck. Similarly in Florida, a food service fleet would save approximately $43,609 per unit on a six-year operating lifecycle for a 2024 model year diesel truck.
“This recognition by Supply & Demand Chain Executive and Food Logistics underscores our commitment to providing innovative solutions that drive sustainability and cost-efficiency in fleet operations,” said John Rickette, CTP, Vice President of Portfolio and Manager of the Transaction Management Team at Fleet Advantage. “Our team’s dedication to leveraging advanced analytics and flexible finance options continues to empower our fleet clients to make data-driven decisions that optimize their fleet performance and achieve their ESG goals.”