If you are a trucking industry player, you witness the ups and downs of the market. Just like other businesses, the trucking industry is not immune to some issues. In fact, a lot of trucking companies can hit a low from time to time. However, issues that can hit the trucking industry are well-known and monitored every year to help businesses figure out what to concentrate on. Trucking company consultants can help companies have a successful business plan to overcome the challenges they face. The following are the common challenges that trucking companies face:
Increasing Fuel Costs
The trucking industry finds it hard to keep up because of increasing fuel costs. High fuel prices may impact transportation costs in the United States through increase fuel surcharges. A skilled consultant will provide a trucking business with reliable solutions to help manage the increase in fuel costs.
Truck Driver Shortages
The lack of driver retention is another challenge for trucking companies. Driver shortages happen because long-haul trucking jobs tend to have lower pay than other trucking jobs. Also, drivers are required to be at least 21 years old to carry the kind of license necessary for this line of work. This leaves a three-year gap between graduation from high school that forces possible drivers to find work somewhere else.
Changing Regulations
The laws and regulations that impact the trucking industry are constantly being reviewed and revised. Plus, states have different regulations in place and operating the business while being compliant becomes harder than ever. Some of the changes in regulation that trucking companies must stay on top of include hours of service issues, minimum wage changes, electronic logging requirements, and others. An experienced trucking business consultant will help a company stay compliant with rules and regulations to avoid penalties and fines.
Deteriorating Infrastructure
Every trucking business needs to have a safe and dependable infrastructure. This is the reason a proposed infrastructure spending plan is in place. However, such improvements come with a cost. And with increased gas prices, customers may need to deal with increased service rates.
The Need to Improve Customer Service
These days, customers want real-time, transparent delivery like the shipment’s specific location. Thankfully, advanced technology makes it possible to locate shipments. However, trucking companies need to bear the expense to facilitate such online services, which take a lot of money and time. Apart from this, the majority of customers don’t want to pay for services such as express delivery, which further affects profitability.
