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The Whole of Life Cost Calculator – Formbird FLEET Meet-Up #21

Welcome to the Formbird Fleet Professionals Community! In this video, we’re excited to explore the Whole of Life Cost Calculator, a key feature of Formbird FLEET that empowers fleet managers to make informed decisions based on comprehensive cost analysis. This powerful tool has been refined with input from fleet experts to ensure you have the most accurate and useful data at your fingertips.

Discover how the Whole of Life Cost Calculator can help you predict and manage the total costs associated with your fleet assets, from acquisition to disposal. Considering all variables, including maintenance, fuel, and depreciation, this tool provides a clear picture of the actual cost of owning and operating your fleet.

For more details on the Whole of Life Cost Calculator, visit the IPWEA page at: https://www.ipwea.org/ipweacommunities/fleet-management-overview/costcalc

Join our community of fleet management professionals today at https://www.formbird.com/category/fleet-professionals-community/  for exclusive insights, updates, and discussions. Let’s take your fleet management to the next level together!

More about the tool:

The Whole of Life Cost Calculator from IPWEA offers a detailed approach to understanding the full financial impact of your fleet assets. It includes:

Acquisition Costs: Initial purchase and setup expenses.

Operating Costs: Fuel, maintenance, and repairs over the asset’s life.

Depreciation: How the asset’s value decreases over time.

Disposal Costs: End-of-life expenses, including resale value.

Fleet managers can use this comprehensive calculator to optimize their budget and ensure cost-effective asset management. For more information, visit https://www.ipwea.org/ipweacommunities/fleet-management-overview/costcalc

Video Time Stamps

Speaker: Host

Welcome and introduction to the 21st Formbird Fleet Professionals Community meetup.

News and Updates

00:54 News about sponsorship at the AFMA conference and a humorous note about sponsoring the toilets.

02:11  Discussion on Whole of Life Cost Calculator

Speakers: Host, Mark Hosking, Mark Siebel

Introduction to the whole-of-life cost tool, its history, and recent updates.

05:04 – User Experience – Ryan’s Insights

Speakers: Mark Siebel, Ryan

11:01 Ryan shares his experience and the operational benefits of using the whole-of-life cost tool.

Tool Demonstration

Speaker: Paul

Paul demonstrates the functionality of the whole-of-life cost tool, including entering data and generating reports.

15:05 Detailed Analysis and Comparison

Speaker: Paul

Explanation of detailed and weighted comparisons, using reference and average data, and managing contacts.

20:52 Administrator and User Views

Speakers: Paul, Mark Hosking

Differences between administrator and user views and how projects are managed within the tool.

26:33 – Future Developments

Paul, Mark Hosking

Future improvements are planned for the tool, including better data integration and using reference assets.

30:02 – User Testimonials

Speakers: Ryan, Mark Hosking

Ryan’s testimonial shows how the Whole of Life Cost Calculator has helped with decision-making and internal charge rates.

36:05 – Q&A Session

Speakers: David Bailey, Stephen Penny, Jamie, Paul, Mark Hosking

Q&A session addressing questions about future improvements, operating leases, and importing data.

46:21  Closing Remarks 

Final thanks and information about the next meetup.