Small and large trucking companies find themselves in a changing industrial, political and economic climate that’s having adverse effects on overall performance and bottom-line earnings. Let’s explore the particulars of the issue, then learn how to combat the challenges with a single decision.
- An aging workforce and a high turnover rate have led to a severe driver shortage. The problem won’t be easily solved as low national unemployment makes replacement hires difficult, while an aging workforce means the problem will only intensify.
- Even with fewer workers, carriers still have to do more work: the ELD Mandate and the Food Modernization Safety Act have increased regulations and liabilities, leading to a drop in productivity and distance traveled.
- And even though these challenges demand increased spend, the price of doing business is already skyrocketing. A spike in insurance has created anywhere between a five to double-digit cost increase for carriers, and the price of fuel has increased by 50 percent since 2016.1
- Despite these challenges, consumers expect superior service, demanding delivery transparency and refusing to pay extra for anything less than two-day shipping, while the increasing cost of technology demands greater spend overall.
This series of challenges can seem like an impossible knot to untie. Trying to solve one issue might only make another issue worse. But it’s possible to meet all these challenges with a single decision—partnering with a 3PL.
A 3PL provides the solution by efficiently and comprehensively tackling these challenges. With a 3PL, trucking companies benefit from
- enhanced scalability
- next-level technology
- greater access to resources
- reinforced financial stability
- increased safety
To find out how a 3PL clears away the obstacles facing modern carriers, review the infographic, Carrier Roadblocks and Ways to Bypass the Barriers.
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