Coping with The Tight Carrier Market
When a shipper contacts a 3PL to arrange for transportation of goods, he or she expects to hear, “No problem! The truck will be there just when you need it!” And that is certainly what we all want to say. The truth is, though, that the carrier market is tight, and likely to get tighter. Sometimes it is impossible to accommodate a shipper’s timing. At times you can’t offer a backhaul and may lose a carrier. Occasionally, loads are dropped. There simply aren’t enough carriers. With Electronic Logging Devices (ELD) becoming mandatory now (though there are some extensions), drivers have to adhere to and bear the expense of yet another regulation.
Our PDF “Coping with the Tight Carrier Market: Surviving and Thriving in the Post-ELD World” examines the current state of the carrier market, explores some of the reasons for its contraction, and articulates the five keys to surviving and thriving in this tight market.
The carrier crunch is real. There are a variety of reasons that there is a shortage of heavy and tractor-trailer drivers. Economic realities make the job less attractive; the pay, though good, comes with unreimbursed expenses. The lifestyle can be hard, with much of the glamor of the open road gone. The massive amount of regulations can feel oppressive and the requirement of Electronic Logging Devices increases the atmosphere of constant surveillance. Millennials have different attitudes than older drivers do to all of these things, and that needs to be recognized by 3PLs.
3PLs that respond with a renewed commitment to relationship are the ones that will survive and thrive in this tightened carrier market. Respect is the bedrock of any positive relationship, and there are some real-world ways to demonstrate that to carriers and drivers. Communication can make or break relationships, and 3PLs can provide specific kinds of communication and support that carriers and drivers need. Feedback needs to be individuated, and something more than a checkmark in a box. Mutual growth needs to be a commitment that the 3PL makes, and considering what the carriers need in order to prosper ensures that. Finally, volume gives the 3PL the ability to sustain all the other keys to success.
To find out how these five keys to surviving and thriving in the current tight carrier market can be implemented in the real world, and make them work for you, download the whitepaper now by filling out the form below.