While all rental companies are aware of the importance of availability, it is repeatedly not given the attention it deserves. With better visibility of available assets, hirers can improve profitability, productivity, and utilisation. Hire businesses need to see the location of their assets and understand what and when equipment is available.
In the workshop…
Whilst it’s key to understand which of your assets is not currently on-hire, you also need to know about the workshop. Better visibility and estimates of when machines would be repaired and fit for hire again could avoid unnecessary re-hires or perhaps additional purchases.
Ready to off-hire…
Knowing when your assets will come back from hire is also very important, but sometimes it’s an open-ended rental agreement with an unknown off-hire date. However, by opening up more regular conversations with your customers, you’ll not only be able to get a better idea of when to expect your assets back, but you’ll also be able to improve your relationships. Improved communication with clients also offers an excellent opportunity to provide other machines or services to the customer, meaning you can gain even more business.
Deliveries and collections…
Coordination with logistics also plays a crucial role in availability. Better planning your deliveries and collections is key to avoiding wasted hours of availability with your equipment in transit. Optimised route planning ensures your drivers are always taking the most efficient route and enables you to allocate ad-hoc collections to drivers already on the road smartly.
Investment opportunities…
Good availability management could prevent or delay a purchase decision and the subsequent high investment when it comes to buying machines. In some cases, these purchases may be related to future projects. Therefore, customer relationships are essential in planning for the future and having a clear investment plan.
In short, good availability management positively impacts your rental operation and customer experience; it helps to better plan assets and reduce costs, avoid unnecessary re-hires, and plan better investment purchases.