Given today’s high fuel prices, many fleets are looking for ways to reduce costs in other areas of their operation. Now might be a good time for fleets to look at their parts replacement strategy.

Start by examining where you are getting your replacement parts. Is there a way to consolidate your parts purchases? Buying more parts from one vendor often yields savings, so spend time conducting a spend analysis and adjusting purchasing parameters to take advantage of discounts and rebates.

Consider moving to vendor-managed inventory, where your parts supplier takes full responsibility for tracking, managing, and replenishing your stock parts. This can help prevent carrying unnecessary inventory and the accumulation of obsolete parts.

Also, review the classification of the parts you are purchasing. A few definitions might help here. Genuine parts are parts made by the original equipment manufacturer (OEM) or an approved supplier. They are the parts on the truck as it rolls off the assembly line and tend to be the costliest, but they also meet the manufacturer’s stringent requirements.

Aftermarket parts are parts manufactured by third parties rather than the OEM. They are engineered to meet OEM specs but tend to be less expensive than genuine parts.

All-makes parts are typically from a truck maker or a Tier One parts manufacturer but are seen as value-line brands. All-makes parts typically include items such as oil, filters, belts, hoses, and friction material. Remanufactured parts are made using a standardized industrial process in which cores are returned to same-as-new or better-than-new condition and performance.

Several factors go into determining which of these parts options make sense. Warranty is probably the most important factor. OEMs may specify the type of replacement part that must be installed for the warranty to remain in effect. Make sure the part you are considering will not negatively impact your ability to collect on a warranty claim.

Here’s just one example of a decision a fleet might make. Many fleets have an agreement to turn in their trucks with what are called “trade term” tires. If trade-in time is on the near-term horizon and the truck needs tires, rather than choosing a Tier 1 tire supplier, the fleet manager will select a lower-grade but new tire to meet the trade-in terms.

The role parts play in the safe and efficient operation of the vehicle is another factor to consider. The more critical the part is, the more investigation you need to do into switching from a genuine part.

The age of the vehicle can also impact parts selection. If your vehicle is nearing the end of its useful life, it might not make sense to invest in the OEM part, especially when there are alternatives available.

When making a parts replacement decision, take into account all these factors and select the part that most cost-effectively meets your needs while still delivering on quality and performance.

Consider adopting a good-better-best philosophy. This allows fleets to maintain their vehicles properly while balancing their overall maintenance costs.

Your parts purchasing strategy can help mitigate rising fuel costs while keeping your trucks on the road and operating safely.