Technology has been a stumbling block for the trucking industry for years now. From GPS integration to handling transactions from mobile devices and ELDs, new tech brings new headaches. But the trucking industry stands at a threshold, and technology can not only reduce costs, but it can future-proof the industry against workforce shortages.
Lowered Operating Costs
As technology becomes more widely used, the cost drops. Trucking companies of all sizes can now take advantage of logistics technology designed to help manage fuel expenses, interstate tax payments, payroll, and more. Logistics tech provides the metrics and insight to help carriers make their operations more efficient, which can allow for better growth and profitability.
Analytics and Performance
Analytics play a huge part in managing carrier performance, efficiency, and spotting fraud. However, with new federal regulations and tax guidelines, carriers need to be able to take a more granular look at things. Modern analytics are providing real-time data points about everything from driver behavior to refueling, federal compliance, and more. Emerging tech can help carriers identify inefficiencies and cost-saving opportunities that can be corrected or implemented on the fly to improve the bottom line numbers.
Younger Drivers Have Higher Expectations of Technology
The trucking industry has been trying to manage gaps in the workforce as more drivers enter retirement. Younger people – particularly Millennials – who are entering the workforce not only have the know-how to take full advantage of new technology, but they actively steer clear of employers who do not implement the right tech to optimize their businesses. If carriers embrace new technology, they can attract more drivers without the cost of constantly reskilling them when new gadgets are implemented. Additionally, carriers that take full advantage of tech will attract better talent from younger demographics who can adapt with technology to keep fleet running efficiently for years or even decades to come.
This year there is a big focus on compliance, filling gaps in the workforce, cost savings, and safety. Emerging technology offers carriers an advantage if they are willing to take the leap and look ahead to the bigger picture.