Simple Strategies Can Help Mitigate the Impact of Rising Fuel CostsMIAMI, FL, Mar 24, 2008 (MARKET WIRE via COMTEX News Network) -- As soaring oil prices drive the cost of diesel to record highs,
Ryder System, Inc. (NYSE: R), a global leader in transportation and
supply chain management solutions, offers simple strategies to help
businesses reduce fuel consumption and improve the efficiencies of
their fleets and overall supply chains.
"Regardless of industry or size, almost every business relies on
trucks in some way to move products across the nation's highways and
therefore, is feeling the impact of these price increases," stated
Todd Renehan, Executive Vice President, Sales & Marketing, Fleet
Management Solutions. "Now more than ever, companies can look to
Ryder's expertise, experience, and extensive network of resources to
help mitigate the impact of this situation on their businesses."
Operating practices that can be implemented immediately to improve
the fuel efficiency of their fleets include:
Train drivers to practice fuel efficient driving techniques -- Speed
is the largest single factor impacting large truck fuel economy.
Simply reducing speed from 65mph to 55mph can result in an
improvement in miles per gallon of as much as 22 percent.
Improve tire maintenance -- Correct tire pressure, alignment, and
frequent tire maintenance have a significant impact on fuel economy.
Have drivers check for visual defects before starting their work each
day and use the recommended inflation pressure provided by the tire
manufacturer.
Specify fuel efficient equipment -- New engine technologies, improved
aerodynamics, and weight-saving designs are available to improve the
fuel economy of today's fleets. Ryder, for example, recently launched
a line of RydeGreen(TM) vehicles that include several "green"
features designed to reduce fuel consumption, such as 2007 engine
technology, an auxiliary power unit to reduce idling, frame-side
fairings to reduce wind resistance, an automated direct drive
transmission, and fuel efficient drive tires.
Implement an ongoing preventive maintenance program -- A
well-maintained vehicle is a more fuel efficient vehicle. Consider
outsourcing the maintenance of your fleet to an experienced
third-party provider, or at least make sure your fleet is on a
scheduled maintenance program for even the most routine care to
optimize performance.
Leverage technology -- Take advantage of new telematics and onboard
diagnostics systems, like Ryder's FleetCare and RydeSmart(SM), which
help fleet owners analyze fuel purchases, optimize routes, and
monitor idle time and vehicle performance -- all which mitigate
rising fuel costs.
"Ryder is one of the largest fleet purchasers of diesel fuel in the
U.S., dispensing over 400 million gallons of fuel to thousands of
customers across the U.S. each year," Renehan stated. "While we can't
control the price of fuel, we are in position to offer pricing that
is competitive for our customers and a consistent supply of fuel in
times of tight supply."
Other strategies that help reduce fuel consumption and streamline a
company's supply chain include:
Integrate real-time inventory visibility in the warehouse -- Leverage
innovative technology to streamline and improve the accuracy of
inventory levels and reduce unnecessary trips.
Optimize distribution networks -- Establish regional distribution
centers to serve customers on demand and optimize and consolidate
routes, reducing the number of loads to require fewer trips and less
idling.
Consider a dedicated fleet solution -- Control routes, fuel
consumption, and idle time with dedicated assets, drivers, and
strategic route planning.
Improve transportation management -- Coordinate supplier shipments to
consolidate freight costs and negotiate better rates, and leverage
multiple modes.
"Our fleet management and supply chain solutions offerings are
intrinsically designed to help improve efficiencies and reduce
costs," stated Tom Jones, Senior Vice President and General Manager,
U.S. Supply Chain Solutions. "During tough economic times, fueled by
increasing oil prices, our solutions become even more valuable as
customers look to maintain profitability and remain competitive."
Ryder's Pro-TREAD driver training program, including a specific
module on fuel management, is available at
www.rydersafetyservices.com. For more information about FleetCare,
RydeSmart(SM), and other strategies to improve transportation and
supply chain efficiencies, visit
www.ryder.com.
About Ryder
Ryder provides leading-edge transportation, logistics and supply
chain management solutions worldwide. Ryder's stock (NYSE: R) is a
component of the Dow Jones Transportation Average and the Standard &
Poor's 500 Index. Ryder ranks 362nd on the FORTUNE 500(R) and 1,458th
on the Forbes Global 2000. For more information on Ryder System,
Inc., visit www.ryder.com.
Note Regarding Forward-Looking Statements: Certain statements and
information included in this news release are "forward-looking
statements" within the meaning of the Federal Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on our current plans and expectations and are subject to risks,
uncertainties and assumptions. Accordingly, these forward-looking
statements should be evaluated with consideration given to the many
risks and uncertainties that could cause actual results and events to
differ materially from those in the forward-looking statements
including those risks set forth in our periodic filings with the
Securities and Exchange Commission. New risks emerge from time to
time. It is not possible for management to predict all such risk
factors or to assess the impact of such risks on our business.
Accordingly, we undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events, or otherwise.
For Information Contact:
Cindy Haas
(305) 500-4526
Email Contact
David Bruce
(305) 500-4999
Email Contact
SOURCE: Ryder System, Inc.