How to get lean with your leasing

Lean your leasing

Does your business own or lease vehicles? Here’s an opportunity to “Lean” your leasing!

I recently had a conversation with Amy Sheils, Branch Manager at Europcar about the impact Covid19 has had on her industry. I was surprised to learn that Europcar has a large commercial customer base and have been able to save their customers thousands in leasing fees during the crisis.

Let me put it like this… What did your business do with its vehicles when Covid19 hit? Personally I’ve had a car sitting on my drive for the last couple of months growing cobwebs around the wheel arches and many businesses with fixed-term leases have been in the same position.

I was even more surprised to hear that businesses who rent their vehicles and fleets through Europcar were able to simply return them and stop paying altogether. Likewise, as the country begins to reopen the same can be applied in reverse, businesses can simply order back vehicles as they are required.

I think this is a fantastic Lean solution, not to mention the range of other benefits vehicle rental can offer which includes everything from service, maintenance and branding options, to fuel cards and toll tags! Hopefully we won’t have to take our vehicles off the road again for a while but even if we have to reduce our services, vehicle rental may be a great option to help you manage your businesses cash flow in these turbulent times.

The Lean lesson

Lean businesses are constantly trying to eliminate 8 types of waste in their operations, so they can deliver faster, improve quality and reduce cost.

In this example we are reducing the waste called “Inventory” (the vehicles). The idea is that we only keep in our inventory for what we need to do the work, hence we are not tied into any long-term contract. If we have too much inventory, we tie-up our cash flow and in the case of a fall in demand we are left with stock which cannot generate value for the business.

Another of the 8 wastes is “Overproduction”, which is about producing something before it is needed. Looking at fleet management in general, you could say that by leasing you are producing something before it is actually needed, because you don’t know what will happen over the next 2 or 3 years and you are effectively providing vehicles for the business without knowing what the demand will be.

A final point to mention here is that Lean encourages relationship building with your suppliers, so that they can adapt to the changing needs of your business. That certainly seems to be something which Europcar can successfully deliver.

In summary

If you do lease your vehicle or you’re interested in renting commercially I would highly recommend that you have a chat with Amy Sheils, Branch Manager at Europcar in Navan or contact your local Europcar branch. Amy and her colleagues will be able to assess your needs and provide a cost analysis for your business.

If you are in my network and would like a warm introduction to Amy then I would be more than happy to make the connection.

In the meantime contact us to learn more about Lean and the savings it can deliver for your business.

Stay lean!

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