Created as part of the company’s FleetWave fleet management software, it tracks individual vehicle age and mileage but can also include additional attributes such as fuel usage, maintenance spend, CO2 emissions, breakdowns and depreciation.

An assessment is regularly made that compares these factors to targets set for each vehicle type, creating a suggested replacement date for each car or van.

Adjustments and weightings to each attribute can also be created within the tool to provide greater flexibility and personalisation for each fleet customers.

Managing director Ashley Sowerby said: ‘This tool enables fleet manager to look at their worst scoring vehicles and consider their utilisation on the fleet. This may mean changing their operation or replacing them completely.

‘We work with an increasing number of fleets who would like to move away from traditional three year/60,000 or four year/80,000 replacement cycles and adopt a more flexible approach based on real world factors.

‘The tool creates a means to do this. Managing the fleet in this way should allow the managers to more effectively manage the fleet and replacement capital budgets more effectively.’