Or, Understanding Your Customers' Sophisticated Approach to Transportation Spend, and How Easy You've Made it for them to Take Advantage of You

The trucking industry has been relatively unsophisticated regarding their understanding of Supply Chain Economics; even more so when it comes to negotiations with their shippers. The recent economic climate provided shippers with an opportunity to squeeze their carriers in a short sighted approach to cost cutting. ... Read More

That horn blowing you don't hear is me not tooting it myself. As a former fleet owner of 1250 tractors and 2500 trailers, I have been fortunate enough to learn from the best and put into practice the compliances, efficiencies, asset utilization, and financial controls necessary to position myself for success. Humility has been learned. If you think everything is going too well, you have overlooked something.... Read More

Trucking Executives Need to Step Up to Their Responsibilities (as well as their potential)

Regardless of a person's chosen field of occupation, the quality of their life (and business) is in direct proportion to their commitment to excellence.

Character

Sometimes it's easier not to do what we know we should; to choose the easier wrong over the harder right. Try to be cognizant of the things you can change, as well as those you cannot. Searching for, finding, and embracing a repeatable process that's successful for your group or operation will provide you a roadmap to success.... Read More

I recently heard someone say that there might be only one carrier in one hundred worthy of being an acquisition target. That depends, of course, on varying perspectives. If you're looking to buy or sell a trucking company you'll need to focus on the needs and goals of your specific transportation group -- to either find or create both a strategic and a financial fit.
It's not a new concept to put a failing or lackluster company on the market in a distressed industry. But there has to be a reason and you have to be smart about it. Not everyone will jump at the opportunity to purchase a challenged company. If you want to deal from a position of strength, you may want to consider timing your sale based on economic, strategic, and financial strategies that will allow for an exit strategy on your terms.... Read More

From an operations perspective, there needs to be specific priorities, mandates, and requirements. It’s necessary for carriers to focus on their primary priorities, but it’s essential they cover the details that allow them to achieve their defined goals.

The relevant and obvious elements of lane balance, asset utilization, revenue per truck, meeting service standards, and operations planning go without saying, and should continue to be a priority.... Read More