If you are from the trucking industry, you already have an idea that truck drivers are in great demand because of the growing importance of the trucking sector in the e-commerce fulfillment process.
Stress levels in the trucking industry are pretty high. Despite the weather and other obstacles, businesses must get their products from A to B.
On the other hand, players in the trucking industry have had a lot to say about whether or not there is a shortage of drivers. In this article, we show you the trucking industry challenges and their possible solutions.
In a similar vein, the CFS estimates that trucks moved $10.4 trillion, or 71.6%, of the $14.5 trillion worth of commodities delivered in the USA in 2017. By 2026, it is expected that there will be 2 million people driving heavy and tractor-trailer trucks, up from less than 1.6 million in 2012.
Impacts of e-commerce and supply-chain innovations on the trucking industry
The fast creation of huge facilities over the last decade has expanded payrolls in the logistics business, offsetting some of the retail industry’s job losses: employment in the warehouse and storage subsector surged by over 360,000 jobs, or 54.7 percent, between 2007 and 2017.
Research shows that turnover makes an already severe driver shortage even worse. Increases in earnings encourage more people to join the job market, whereas decreases in salaries have the opposite effect.
However, the American Transportation Research Institute (ATRI) has consistently ranked driver shortage as a top concern over the last several years. Over 60,000 drivers are needed, according to ATRI, to keep up with demand.
Another important finding is that those who want to become truck drivers often wait until their 30s and have yet to gain prior experience in the sector.
As logistics and transportation systems become more automated, the trucking industry must find new ways to train its workers in areas like openness, efficiency, consistency, and working together.
What challenges are facing the trucking industry
If you belong to the trucking industry, you are well aware of the logistical challenges of transporting each of these commodities. High operating expenses, ignorance or inability to comply with rules, and lack of technology are examples.
High Fuel cost
In 2022, fuel prices will be the most significant industrial issue. Driver shortages slipped to second in 2022 after five years as the top worry. This year, truck parking came in third, led by driver wages.
Fuel costs are an issue for the trucking industry. The skyrocketing cost of fuel is prompting significant shifts in business practices.
Truck Drivers Shortage
The driver shortage has been the industry’s most significant problem for the last five years.
While some businesses in the industry are concerned about meeting customer demand for freight, most need help hiring enough truck drivers to meet that need.
Parking has been a headache for all of us. Truckers need help with parking shortages. Truck parking has been one of the top five concerns since 2015 and the top issue for truck drivers for three years.
About $40 million has been given by the U.S. Department of Transportation (DOT) to improve truck parking in Florida and Tennessee. To eliminate legislative barriers to truck parking construction and extension, it may be better to handle truck parking locally and regionally.
In other trucking industry challenges, driver compensation and turnover, rated fourth and seventh, are related to the driver shortage. Driver pay has climbed by 9.8% in the last year, raising concerns about company viability.
Driver compensation and retention methods focus on performing in-depth research to establish how driver compensation, perks, and safety affect driver satisfaction, retention, and productivity.
The trucking industry needs help to retain its drivers. The rate of driver turnover is consistently high. The workplace setting, demographics, and driver’s quality of life are the most critical aspects.
A CDL isn’t the only thing you need to drive a truck. Some jobs (those that involve handling dangerous substances) require extra permits, and other companies want you to learn on the job.
What are the potential solutions to the challenges facing the trucking industry?
Because there is a current shortage of drivers, transportation companies may need to raise pay and improve benefit packages to attract and retain qualified drivers.
For some businesses to hire and keep women truck drivers, they may need to pay for driver training programs or work with schools and vocational training centers.
Investment in trucking
With rising fuel costs, trucking companies may need to invest in trucks and technology that use less fuel, like electric or hybrid trucks. They could also look at other fuel options, like natural gas and biofuels.
When it comes to managing compliance with rules, trucking businesses may need to engage in training and instruction for their drivers and personnel, in addition to adopting new technology like electronic logging devices.
To reduce downtime and increase profitability, the country’s highways, bridges, and rest stops must be maintained and improved. In some cases, this goal may require public and private infrastructure investments.
Trucking businesses may need to spend money on new technologies, the latest mobile apps, and innovative processes to maintain their competitive edge in the market. This might involve implementing new business models or embracing new technology, such as driverless vehicles.
How can ResQ TRX help?
ResQ TRX is a platform that connects truck drivers with repair services to cut downtime, increase transparency, and speed up the approval process for repairs. ResQ TRX’s mobile app makes it easier to track repairs, shorten turnaround times, remove supply chain bottlenecks, and track transparent costs.
Without trucks, there would be no way to move freight throughout the United States. Since 2010, operating expenditures in the United States trucking industry have grown by 18%, as the American Transportation Research Institute (ATRI) reported.
Due to how complicated trucks are, their maintenance and repair costs have increased by 38% in over a decade. Trucking companies and big operators will look for new ways to save money and work more efficiently as prices rise.