Managing your fleet in today’s marketplace

Jun. 20, 2021

The supply of equipment is tight with lead times out weeks or months and demand at an all-time high. As the pandemic progressed in 2020, many rental companies put their fleet purchases on hold while manufacturers experienced layoffs, furloughs and complex pandemic safety restrictions. This created a global tsunami of demand fueled by the recovery, aging rental fleets, global infrastructure spending coupled with manufacturers unprepared due to diminished capacity, social distancing requirements, and their own global supply chain.

An International Construction article cited Off-Highway Research estimates that we are on track for a global construction equipment sales record in 2021. That doesn’t count unexpected complexities like the Suez Canal blockage, which alone accounts for 12 percent of all global trade. Our trusted manufacturers and associate members desperately want to meet demand, but it will take time.

While it is frustrating to deal with constrained supplies of new equipment, if you can’t find new fleet, neither can your customers. The old saying is to turn lemons into lemonade, and this lemonade could be pretty sweet for equipment rental companies. Our business revolves around the ability to manage complicated logistics, minimize downtime and utilize fleets effectively.

Tools rental companies can use to meet the needs of their customers despite the challenges in growing their fleet can be found in the June issue of Rental Management magazine.

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