Accidents cause ripple effects: at the point of a collision with the parties involved and throughout the company. The cost of an accident lifecycle differs dramatically based on the severity of the collision. As the focus on active collision mitigation become front and center within the automotive industry, heavy-duty fleets are also recognizing the importance of incorporating these systems into their safety programs. Unfortunately, many are unsure of how to justify the cost of a robust system that can withstand the harsh environments their equipment encounters.
When a heavy-duty vehicle is involved in an accident, there is typically physical damage, resulting in the obvious costs associated with repairs, as well as the loss of productivity as a result of downtime. If the accident is more severe and results in injuries and/or damage of property, there are immediate and long-term ramifications. Long-term costs can include the emotional well-being of your team, as well as the increased chance of lawsuits for the company.
Over the past year, heavy-duty vehicle safety has quickly migrated from reactive to proactive, referring to solutions and the core of its offerings as “collision mitigation.” This subtle but important change in positioning is indicative of the industry recognizing that accidents are going to happen and that technologies can be a safeguard by alerting the operator and, in some cases, mitigating or avoiding the collision. Collision mitigation is also important as the industry begins to develop and integrate Advanced Driver Assistance (ADAS) technology, semi and full autonomy solutions.
Operating one of the nation’s largest commercial fleets, UPS made collision mitigation safety technology standard this year on more than 2,600 new class 8 tractors in its fleet. And, on a broader level, the National Transportation Safety Board (NTSB) recommended that all passenger and commercial vehicles use this collision-mitigation technology. The NTSB’s report concludes that “collision warning systems, particularly when paired with active braking, could significantly reduce the frequency and severity of rear-end crashes.” These initiatives show that safety is not just a buzz word, but rather a movement towards saving lives and property.
To determine the ROI of safety technology, all one has to do is compare the cost of a system to the costs associated with a potential accident. When they add up the costs, forward-thinking fleet managers see how the reduction of downtime, increase in employee and public safety, reduction of property damage, and lowering the Total Cost of Ownership (TCO) are more cost effective approaches to a safety program than hoping an accident doesn’t occur. All of this provides a very clear RIO when investing in safety technology.
To learn more about the costing saving of active collision mitigation, contact a Preco Electronics safety specialist.