The American economy – and by extension, the world – relies on the US trucking industry. Taking imported goods and raw materials and getting them to their destinations, and making sure the same is done with our exports, has led to our current strong economic climate. However, the key to efficient trucking can only happen when all parties are playing on a level playing field. From manufacturers to shippers, the docks, and even the officials in Washington, DC – everyone needs to work together to achieve efficient trucking and keep our economy moving forward and upward.
Efficient Trucking Requires Fewer Restrictions
If the trucking industry is going to help the economy maintain its momentum, it needs fewer restrictions. A good start would be to roll back or revise the ELD mandate to give drivers more autonomy. Limiting hours of service means slower supply chains across the board. This leads to frustrated drivers, fleet owners, shippers, manufacturers, and ultimately, frustrated customers. Allowing drivers to keep their own schedules and not forcing a mandatory break system on them can greatly help to boost commerce throughout the United States. Additionally, rolling back legislation to keep electronic logging devices from running when drivers are parked at the docks would allow truckers to cover more distance and decrease traffic accidents.
Using Capacity Trucks Better
With the limitations placed on truckers, shippers are demanding capacity. However, because so many trucks are on the road, shippers are prizing availability even more than capacity. This results in very inefficient trucking, with large trucks only carrying a fraction of their capacity simply because “they were available.” By misusing trucks in this way, shippers are actually undercutting their own productivity and performance, not to mention clogging the schedules of carriers.
Efficient Trucking and Faster Revenue
The trucking industry may not be able to control shippers or make the wheels in Washington spin faster, but there are solutions which can be implemented. The trucking industry can purchase more trucks and bolster recruiting efforts to get more drivers. The entire industry is poised for growth, and that requires working capital. Unfortunately, shippers and other customers still hold to the 30-day rule on invoices. Fortunately, the trucking industry has a solution with freight bill factoring. Freight bill factoring converts unpaid invoices to cash in 24 hours, which eliminates the waiting period.
At Express Freight Finance, we believe in efficient trucking, and offer a comprehensive factoring program, along with fuel cards and more. Contact our offices today to learn how we can keep you moving towards success.