Connect with us

News

How Fleets are Using Data to Positively Influence Risk Management

Published

on

In today’s economic landscape, organizations with transportation fleets play a crucial role in powering the American economy by ensuring the timely delivery of essential goods. These fleets serve as the backbone of our nation’s supply chain, emphasizing the need to prioritize safety and risk management for their sustained health and viability. To address the challenges associated with transporting goods over long distances, an increasing number of companies are turning to advanced safety technologies and telematics as comprehensive solutions.

One of the significant challenges for fleets over the years has been recruiting drivers due to the inherent risks associated with the demanding and perilous nature of heavy-duty truck driving. The job ranks as the seventh most dangerous in America, with approximately 900 fatalities annually, according to the U.S. Bureau of Labor Statistics. Recognizing the importance of managing driver risks, fleets are enhancing recruitment strategies by incorporating advanced safety technologies and telematics. The use of these technologies, coupled with data analytics, has bridged the knowledge gap between operations and finance, aiding companies in reducing overall costs and aligning with long-term strategic asset management plans that prioritize advanced safety features in truck specifications.

The escalating risks in the transportation of goods not only pose a threat to driver safety but also impact the bottom line. According to the American Transportation Research Institute (ATRI), while large truck crashes declined from 2021 to 2022, commercial auto liability premiums are expected to increase in 2023 due to rising costs and poor performance in the previous policy year. Private fleets, too, report a slight increase in DOT Recordable Accidents per million miles, prompting aggressive safety management through driver hiring practices and the adoption of active safety technologies.

Technology and analytics play a crucial role in effective risk management, starting with the pre-hire process and extending to post-hire monitoring of driver behavior. Telematics, cameras, violations, collision history, and maintenance events serve as early warning indicators, with a focus on creating an event-based scoring system. An effective telematics system captures and reports data points by driver, enabling risk managers to make informed decisions about each driver’s overall risk profile.

Investing in newer trucks equipped with advanced safety features is seen as a strategic and competitive move for fleets. Beyond prioritizing driver and road user safety, these upgrades contribute to substantial reductions in accident-related costs. Features such as collision mitigation systems, lane departure warnings, and automatic emergency braking not only enhance safety but also position the company as a lower risk for insurers. Insurance companies increasingly reward organizations that prioritize safety, reflecting a shift from 6.4 cents per mile in premiums in 2013 to 8.8 cents per mile in 2022.

In conclusion, transportation fleets remain pivotal in the current economic landscape. Those that prioritize safety, leverage data analytics, telematics, and invest in newer equipment stand out as competitive leaders. Strengthening communication between finance teams, risk management, and the C-level ensures a comprehensive and effective approach to navigating the challenges associated with the transportation of critical goods.

 

 

Source: Commercial Carrier Journal

Business

Supply Chain Turmoil Hits Drivers as Costs and Shortages Persist

Published

on

By

News in Trucking

Supply Chain Turmoil Hits Drivers as Costs and Shortages Persist

“Due to the exorbitant cost of shipping, we have had to raise prices to our customers as well as order eight months’ worth of inventory, eight months in advance.” — Hanna from The Crown Choice

The anticipated recovery year turned into ongoing supply chain disruptions, with raw material shortages and factories in China operating on limited schedules. The cost of shipping containers has skyrocketed, impacting small businesses and their ability to order inventory effectively.

What This Means for Your Wallet and Your Miles

Shipping costs are at an all-time high, which could mean higher operating costs for you as a driver. If you’re hauling goods for small businesses, expect them to pass these costs along in the form of higher order rates or delayed payments.

Fuel costs are also likely to be affected as ripple effects from supply chain disruptions impact pricing. Keep an eye on fuel surcharges and budget accordingly to avoid surprises in your expense sheet.

If you’re relying on contracts with big retailers, be prepared for potential delays. Mass retailers are struggling with empty shelves, which might lead to fewer loads as they adjust to the new normal.

Load availability may shift as businesses look to diversify their supplier base. Stay flexible and ready to adjust your routes based on changing demand and supply scenarios.

  • Monitor fuel price trends as supply chain disruptions could cause fluctuations.
  • Watch for changes in load availability from major retailers like Walmart and Home Depot.
  • Stay alert for announcements on shipping rate adjustments from logistics providers.
  • How are shipping costs affecting my job?

    High shipping costs are driving businesses to increase prices, which may lead to fewer shipments or altered contracts. Be prepared to adjust to these changes.

    Will this affect fuel prices?

    Yes, supply chain disruptions can influence fuel prices, so keep an eye on trends and potential surcharges that may affect your operating costs.

    What about load availability?

    Load availability could fluctuate as businesses adjust their supply chains. Flexibility in routes and contracts will be crucial to maintaining steady work.

    How can I prepare for potential delays?

    Keep in close contact with your logistics partners and clients. Understanding their challenges can help you anticipate delays and adjust your schedule accordingly.

    Is there anything I can do to mitigate these costs?

    Consider renegotiating rates and contracts to account for increased costs, and explore new markets and clients who may offer more stable opportunities.

    Continue Reading

    Business

    Key Strategies for Effective Remote Worker Time Management

    Published

    on

    By

    News in Trucking

    Key Strategies for Effective Remote Worker Time Management

    Remote work has become increasingly popular in recent years, thanks to technological advancements and changing attitudes towards work-life balance.

    The article discusses various strategies and tools to enhance time management for remote workers. It covers setting expectations, choosing appropriate time tracking tools, and maintaining accountability to improve productivity in a remote work environment.

    What This Means for Your Wallet and Your Miles

    For drivers who also manage remote workers or work remotely themselves, the right time tracking tools can streamline operations and improve productivity. This could potentially reduce overhead costs and increase efficiency.

    Setting clear expectations regarding availability and communication can help avoid misunderstandings and reduce downtime, ensuring you stay on top of your tasks and deadlines.

    Establishing a routine can help you make the most of your work hours, allowing more time for driving or managing logistics without affecting performance.

    Regularly reviewing and adjusting your time management practices can help identify inefficiencies, allowing you to make changes that enhance productivity and ensure a steady flow of income.

  • Evaluate the effectiveness of your current time tracking practices monthly to ensure they align with your productivity goals.
  • Monitor feedback from your team or remote workers to identify any communication or time management issues that may arise.
  • Stay updated on new time tracking tools that could offer better functionality and integration with your existing systems.
  • How can I improve time management for my remote workers?

    Set clear expectations for work hours and communication, use effective time tracking tools, and establish routines to optimize productivity.

    What are some recommended time tracking tools?

    Popular options include Toggl, BuddyPunch, RescueTime, and Harvest, each offering different features suited to various needs.

    How often should I review my time tracking practices?

    Regular reviews, ideally monthly, can help identify areas for improvement and ensure your practices remain effective and aligned with goals.

    Why is accountability important in remote work?

    Accountability helps maintain productivity and motivation, ensuring that tasks are completed efficiently and on time.

    What should I do if my current routine isn’t working?

    Be flexible and willing to adjust your routine or try new tools and strategies to find a setup that maximizes productivity and fits your work style.

    Continue Reading

    CDL Training

    Ohio Pursues Legal Action Against Trucker for Alleged Toll Skipping

    Published

    on

    An Illinois-based trucker, Moath Musamih, from Orland Park, has been formally indicted in Ohio on grand theft charges for allegedly avoiding nearly $22,000 in turnpike tolls. The indictment, filed on April 21 by a Williams County grand jury, accuses Musamih of a fourth-degree felony relating to unpaid tolls, with potential penalties including up to 18 months imprisonment, a $5,000 fine, and restitution.

    Prosecutors assert that Musamih’s truck was monitored with open-road tolling technology for close to two years. Despite receiving multiple payment notifications, the tolls remained unpaid. The indictment also includes a clause to confiscate the 2012 Freightliner Cascadia allegedly used in these offenses.

    County Chief Investigator Andrew Skiles noted that the Ohio State Highway Patrol had been keeping tabs on Musamih for some time due to the unpaid tolls. According to Skiles, Musamih is an owner-operator whose vehicle, reportedly registered under his wife’s name, was regularly tracked traveling extensive distances on the Ohio Turnpike using an E-ZPass transponder.

    An Ohio State Highway Patrol officer encountered Musamih at a service plaza on eastbound Interstate 80, where an incident report was filed for “Theft by Deception.” The report included accusations of theft without consent and engaging in corrupt activities.

    Williams County Prosecutor Katherine Zartman opted for criminal proceedings against Musamih due to the significant total of approximately $21,991 in unpaid tolls over an extensive period from April 2024 to April 2026. The decision to pursue a fourth-degree felony charge was influenced by Musamih’s alleged repeated offenses and the proposed forfeiture of his semi-truck as it was deemed contraband linked to the criminal activity.

    The Ohio Turnpike and Infrastructure Commission, through its advanced open-road tolling system launched in April 2024, identified Musamih. Executive Director Ferzan Ahmed emphasized the aim to maintain optimal conditions on the turnpike while highlighting the challenges posed by companies that fail to settle their toll liabilities, despite numerous reminders and collection attempts.

    In a broader context, the commission recently disclosed a list of 315 trucking companies accused of evading $5.2 million in tolls over the past two years, indicating a widespread issue with rogue operators.

    Continue Reading

    Trending