Small Trucking Companies Are Getting Squeezed by Soaring Diesel Prices
Fuel costs have spiked at an unprecedented pace following Russia’s invasion of Ukraine, posing a challenge for freight haulers operating on tight margins and light capital. The rapid rise in diesel fuel prices this month is squeezing freight transportation companies and their customers, and leaving small trucking operators struggling to catch up with the escalating costs. The increased pump prices are adding hundreds of dollars a week to the costs of operating each truck, and carriers are scrambling to keep up.
House Lawmakers Introduce Trucking Workforce Bill
Legislation aimed at incentivizing individuals to join the trucking workforce was recently introduced in the U.S. House of Representatives. The bipartisan bill would establish a refundable tax credit of up to $7,500 for truckers with a Class A commercial driver license, and with at least 1,900 operational hours during the year. The credit would run during a two-year period through 2023. The bill was referred to a committee of jurisdiction for consideration. American Trucking Associations is among the groups endorsing the legislation
The Truth About Trucking Turnover
Many cite driver turnover rates, but few understand what they measure. As post-pandemic supply-chain challenges have been thrust into the public consciousness, a new class of armchair experts has risen to explain all that ails America’s trucking industry. Bureaucrats, essayists, and other cultural commentators—most of who have no real-world experience in trucking—are quick to explain why, for example, the industry faces a labor shortage as it strives to hire the next generation of professional drivers. They almost always point to high turnover rates as the empirical epicenter of trucking’s labor woes.
Supply Chain Education: Cramming for Success
Business is crazy these days. That means graduates of supply chain programs need to understand resilience and risk management along with technology, analytics, operations, and strategy. The fundamentals of supply chain management—ensuring products are available where and when they’re needed and in the right quantities—haven’t changed. But advances in technology, and particularly analytics, are shifting how supply chain organizations achieve these objectives.