OptimalCar helps Optimize your Fleet Plan and Maximize Your Profit
OptimalCar is a cloud based fleet planning system designed to optimize your fleet procurement to maximize your profitability. Car Rental is a complex business with many elements that do not apply to other industries. Every rental is unique with an individual pickup date, time and duration. Simplified forecasting and planning based on metrics such as on rent days or utilization do not fully take into account the complexities of the business.
OptimalCar handles this complexity by using advanced simulation techniques to accurately apply all the relevent business rules to ensure that the output closely matches the real world environment.
OptimalCar forecasts demand for each station and vehicle category. Car Rental demand patterns are complex and many factors must be taken into account, including knowledge and insights from staff. Our advanced forecasting algorithms use:
- Historical Performance at each station
- Future bookings
- Unmet demand estimation
- Underlying growth or decline
- Seasonality and calendar changes
- Moveable events and holidays
- Insights from staff
- Fleet Changes
OptimalCar runs thousands of simulations of how the forecast demand will play out at each station, to identify the profitability of each incremental vehicle in the fleet and to recommend when new vehicles should be added or existing vehicles extended or returned early:
- Generate Reservation Demand based on forecast
- Allocate to fleet based on substitution rules and turnaround times
- Create new vehicle recommendations to meet demand
- Identify optimal delivery and return dates for new vehicles
- Recommend extending or returning early existing vehicles to optimize profitability
OptimalCar manages the planning workflow from forecast recommendations to vehicle ordering, tracking fleet entries/exits and sending updated fleet plans to station managers:
- Current fleet data imported from reservation system
- Convert Recommended fleet changes to Planned changes
- Update data as more details known such as delivery dates, car model etc.
- What if analysis to identify impact of fleet changes
- Update station managers as fleet plan changes
Working with OptimalCar
OptimalCar gives fleet planning executives visibility and control over their fleet planning by identifying the projected profitability of every vehicle at every station.
Real Time Visibility
1Optimal Outputs runs a complete business simulation for every station each night, incorporating the previous days fleet and rental data, to give you a fully up-to-date view of your fleet, planned changes and the projected performance of every station in your network. Not recent enough? No problem, you can run a forecast for one station or all stations on demand at any time.
'What If' Analysis
2When you need to understand the impact on the business of potential fleet changes or customer demand, run a new simulation with those changes to see the full impact and the recommended fleet changes that result. Will you need new vehicles to handle a new customer contract? OptimalCar will project how much can be handled by the existing fleet and how many additional cars you will need.
Fleet Plan Management
3Progress vehicles from recommended to planned and then through the cycle of ordering, receiving delivery information and actual delivery. As you firm up data on vehicle cost, delivery dates etc., OptimalCar's projections and fleet recommendations for that station take that into account. Delivery delayed? Should you extend some current vehicles? OptimalCar will recommend.
4Share updated fleet plans with Station Managers with the most up to date information on vehicles entering or leaving their fleet and the profitability of each incremental vehicle. Give them long term visibility on the projected fleet for their location. Get their input on local market changes and the impact on demand at their location.