The trucking industry plays a large role in getting products from point A to point B. We rely on trucks to get our products to the destination in a timely manner. However, there are things that affect the trucking industry and in turn our business. Below are four ways the trucking industry affects business.
There are various regulations that truckers have to follow. Most recently, the Hours of Service rules for truckers were updated. Some of the highlights of these rules are:
• The trucker work week was cut from 82 hours to 70 hours a week.
• A 34 hour re-start period is required after working 70 hours.
• Truckers must take a 30 minute break during the first eight hours of a shift.
Overall, these regulations limit the amount of time truckers can spend on the road. These regulations were put into place to help eliminate or decrease driver fatigue which in turn reduces the number of accidents.
However, with all of these regulations, it makes it more difficult to deliver your goods in a timely manner. It is estimated that truckers lose about 300 miles a week due to the now required 30 minute break.
Although these rules help to keep the trucker and others on the road safe, it increases the time it takes to deliver your product or get your raw materials to you.
2. Fuel Surcharges
With increased fuel surcharges, it makes it more expensive for businesses to ship products. Fuel surcharges are calculated based on a base fuel price, base fuel mileage and the sources and interval of the current fuel price. All of the previous elements are important factors to determining the fuel surcharge. The surcharges reflect fluctuations of the prices we see at the pump. If the price of fuel goes up, expect it to be more expensive to ship your product.
Unpredictable, inclement weather can slow down the transportation process. With a bad snowfall, truckers can get stuck in congested and unplowed highways. This slows down the transportation process and in turn delays your shipment. If you are expecting a shipment of raw materials, your production will be delayed until you receive your materials. Overall, bad weather slows down everything from trucking to production.
4. Driver Shortages
There is a driver shortage in the trucking industry. Currently, the trucking industry isn’t attracting new drivers. With fewer drivers it means that there are fewer trucks that can go out each day meaning your shipment may take longer to arrive/be delivered.
As you can see there are many factors that influence the trucking industry, which in turn influence getting your product on time.