Six 2017 Trucking Industry Trends to Watch

Find out some of the 2017 Trucking Industry trends that will most-impact transportation and logistics companies next year.

Six 2017 Trucking Industry Trends are Shaping the Future of Transportation

Times are always changing, and the trucking industry will be no exception to that in 2017. In the U.S. alone, there are more than 3.5 million truckers employed and out on the open road.  The trends that will impact workers in the transportation field in 2017 will be the same trends that move the industry forward, and help shape what it will become.

Transportation is Evolving Thanks to 2017 Trucking Industry Trends

1. Increased Interdependence

Whether you struggle with a shortage of drivers or increasing costs of operation, as the next year rolls around you can help yourself out by relying more on your vendors.  You put in hard work and gave precious time to pick the right vendors to use for your business, so put them to use. Many of your vendors have industry experience that you could tap for advice, and they often have “an ear to the ground” that you don’t have since they hear industry news from many different customers.

One of the best ways you can save money as a trucking company is to use your vendors to help you stay in compliance. It might cost you some dollars to keep in compliance with DOT and other safety regulations, but being caught out of compliance will empty your pockets even more.

Also, if you have new customer coming on board for only a short period of time and you have a small fleet, hire a vendor who can accommodate your overflow instead of adding more trucks and trailers. Though this means you won’t get to keep all the revenue from those loads, you’ll also have less stress, fewer financial outlays, and more time to focus on growing your business, not just serving the customers you have now.

2. Increased Efficiencies

One thing that never changes as a trend in the trucking industry is the need to be compact with shipments, combine when needed, and use technology to increase efficiency. Technology is always changing, so make it a friend instead of an enemy. Using GPS and smart technology to determine the best routes for your truckers and finding ways to combine loads for cost efficiency is the difference between a good year and a great year of profit or your business.

3. Changes in Government Regulations

If there is one thing you can count on, it’s that your trucking business will always have to keep up with the laws and regulations introduced, altered, or scrapped by local, state and federal government. From things like electronic logs, employment coercion and overtime laws to tracking business and safety regulations, expect to invest training in new regulations and changes to your business. Studying up on these laws on websites like the FMCSA can help keep you ahead of the game in your industry.

4. Self-Driving Vehicles

For some the idea of self-driving cars and trucks is a dream, and for others it seems to be a nightmare. But this technology is here and it’s saying, “Ready or not, here I come!“ Last year, Uber bought a San Francisco startup company producing self-driving trucks named Otto and they’ve just announced that flying cars could be only a year away.

Now, they’re even demonstrating the ability of this self-driving technology. They just made their first delivery with this truck (over 50,000 beers to be exact) to Colorado just a few days ago. What does this mean? While it’s not likely that self-driving vehicles will take over the trucking industry, it’s time to have a positive outlook on this technology and to figure out whether there are ways you can use it to make more money for your business.

5. Increased Automation

It might not be easy and it might be expensive, but that doesn’t mean it can’t also be cost-effective, saving your trucking business more than it costs, especially over time. To thrive in the coming decade you need to start now.

6. Workforce Evolution

You probably already know there’s a driver shortage, a 2017 trucking industry trend expected to continue to worsen through the year 2020. One of the contributing factors is the disparity between the numbers of drivers retiring or leaving for other types of work versus new comers; however, it’s not the only factor. A Road Scholar Transport article cites a quote from Bob Costello of the American Trucking Association, who stated that the organization found that, “88 percent of carriers said most applicants are not qualified.”

These 2017 Trucking Industry trends are already shaping the future of transportation and logistics. Technology and process improvements can prepare your business for growth, and ensuring that your future moves in talent and equipment acquisition will position your business to compete in the industry of the future is paramount.

***

With trucking and transportation factoring rates starting at 1%, advances as high as 98%, free same / next day funding, no long term contracts or factoring minimums, and added value from perks like Fleet Fuel Cards and TruckersB2B, we have relationships with the top factoring companies in the US. If you’re ready to start factoring or considering a change, please don’t hesitate to ask us for a free, no-obligation proposal.