Those working in the trucking business know it has become even more vital since the pandemic greatly disrupted the supply chain. Our economy depends on the trucking industry to transport goods and keep supply chains running smoothly.
However, with rising fuel costs, increasing competition, and other roadblocks, it can be challenging for trucking companies to remain profitable. Fortunately, there are several resources and strategies available to help improve your trucking business and increase profitability.
1. Improve profit margins
The trucking industry has narrow profit margins. Therefore, it’s important to implement strategies like the following.
- Focus on pricing: Make sure you are charging enough to cover your costs and make a profit. Many businesses have been raising their rates because of inflation. Raise yours if it’s necessary.
- Minimize empty miles: Deadhead miles can significantly reduce profits. Load boards and logistics software can help optimize your routes and loads to minimize empty miles and maximize your revenue.
2. Manage fuel costs
Fuel is a significant expense for trucking companies, so it’s crucial to manage costs and minimize waste wherever possible. Consider investing in fuel-efficient vehicles or using fuel cards to get discounts at the pump.
Educate truck drivers to avoid idling because it burns fuel and adds wear and tear to engines. According to the U.S. Department of Energy, idling a truck uses up about 0.8 gallons of fuel per hour. This may sound small, but the average long-haul truck idles for about 1,800 hours per year. This equates to 1,500 gallons of fuel.
Additionally, idling is actually illegal in some states and municipalities. Stopping the practice of idling also helps reduce the impact of emissions on the environment. If all trucks quit idling, it’d prevent the emission of 11 million tons of carbon dioxide, 55,00 tons of nitrogen oxides, and 400 tons of particulate matter every year! That’s an incredible difference.
3. Maximize operational efficiencies
One of the most critical factors in running a successful trucking business is maximizing efficiency in operations. This means ensuring that your trucks are being used to their fullest potential, that truck drivers deliver on time, and that you minimize costs as much as possible.
To maximize operational efficiencies in your trucking business, consider implementing the following strategies:
- Invest in technology: Modern technology can help you streamline your operations and reduce costs. GPS systems (see No. 5) can help drivers plan more efficient routes, while logistics software can help you optimize loads and reduce deadhead (miles driven with an empty trailer) miles.
- Use load boards: Load boards can help you find available freight quickly and efficiently, ensuring that your trucks are always moving and making money.
- Keep track of maintenance: Regular maintenance is essential to keeping your trucks running smoothly and avoiding costly breakdowns. By keeping track of maintenance schedules and addressing issues promptly, you can minimize downtime and reduce repair costs.
Speaking of tracking maintenance, let’s move on to our next point.
4. Use an asset tracking system
An asset tracking system can do much more than allow you to stay on top of your trucking business inventory. It can alert you when it’s time to take vehicles and equipment in for servicing and maintenance. This is an essential part of the trucking business because it will help extend the life of the assets.
The software will know the location of all the trucking business assets. This helps prevent assets from going unused. It’ll ensure the business uses all assets to prevent waste.
The asset tracking system can be a great source of information if anything gets stolen. You’ll be able to provide photos, serial numbers, and other details to law enforcement and insurance companies.
5. Add GPS technology to trucks and assets
Even though some savvy criminals may use GPS jammers to disable the GPS, not all of them will have the resources to do this. Adding GPS to your assets also makes it easier to know where they are at all times. If an asset breaks down, you can easily find the nearest replacement.
Do whatever is possible to hide the GPS to make it harder to find. As you work to add GPS to assets, it’s worth engraving business information on the equipment. This may cause some criminals to abandon the equipment for fear the black-market seller will not buy them.
6. Install remote video surveillance
Your assets and trucks need to be monitored at night while they’re parked and during the day when they’re on the move. Unlike traditional security systems, video surveillance with remote monitoring is a proactive security system. The monitoring part of the equation is what makes it so effective as video analytics and trained monitoring operators watch over your assets in real time.
The monitoring operator is not located on your business property. Yet, they’re able to do things like issue an audio warning on the two-way speakers. The suspects will hear the warning. If they don’t heed the warning, then the operator will call the police. Often, the police will get to the site before the crooks get away.
Another advantage of remote video surveillance is that everything is recorded. This can also come in handy with liability claims. If a driver claims their truck is damaged, trained analysts can quickly search through hours of footage to locate the truck in question. If the truck arrived with the damage, then you know it did not happen on your property.
You have a variety of options with video surveillance. For example, you may want to consider looking into a mobile surveillance system. Stealth Monitoring offers mobile surveillance for mobile businesses like yours.
The way it works is that a security consultant can mount mobile security cameras onto almost any flat surface or pole. It also allows for a speedy deployment. Many trucks drive through rural areas and remote places that may not have a good quality network. This isn’t a problem for mobile video surveillance.
In addition to deterring crime, video surveillance results in a fast ROI because it can help your business in other ways besides deterring crime and protecting your trucking business assets. Trained monitoring operators can work with companies to ways to improve productivity and operations.
Improving your trucking business takes time, effort, and a willingness to adapt to changing market conditions. By focusing on efficiency in operations and increasing profit margins, you can build a successful and sustainable trucking business that delivers results for you and your customers. Start implementing these six strategies today and take your trucking business to the next level.
Why Choose Stealth to Secure Your Trucking Business?
In choosing Stealth Monitoring as your video surveillance partner, you’ll gain access to a variety of security solutions and a team of security experts. The team will review your trucking business requirements and property to create a customized security solution to prevent asset and trucking theft.
Here are some benefits of Stealth’s video surveillance with monitoring:
- Bolster security: The combination of high-definition security cameras, video analytics, trained monitoring operators, monitoring, and two-way audio speakers maximize security to deter crime.
- Speed response times: Trained monitoring operators can catch dubious activity before any damage or theft happens. The operators call law enforcement and provide updates. Stealth Monitoring has built relationships with police departments across North America. When first responders get a call from Stealth, they know there’s a problem and respond quickly.
- Liability protection: Provides proof of incidents for insurance claims and lawsuits.
- 24/7 monitoring: Operators watch the equipment and trucks at night and during the day whether they’re mobile or locked away.
Video surveillance systems with monitoring save on costs in that they avert theft and cut risk. There are many advantages when you opt to work with Stealth Monitoring’s security services.
Stealth has locations across the U.S. and Canada. The company works to build relationships with community leaders and first responders. Stealth Monitoring clients benefit from these partnerships because first responders act faster knowing Stealth is a reliable source, especially with video verification providing proof it’s not a false alarm.
Here are some videos of video surveillance in action:
- Trespasser tampers with truck.
- Suspects try to steal cargo.
- Trespassers attempt to steal trucks.
- Arsonists caught starting a fire on a loading dock.
- Trespasser tries to access delivery trucks.
Security requirements vary by industry. What your trucking business requires for security is different from a construction site and a logistics facility. In choosing Stealth Monitoring, you’ll benefit from round-the-clock protection, extensive site coverage, and proactive response.
Some clients also said investing in remote video surveillance helped increase their profits. That’s because they received a customized solution that maximizes your security while keeping costs low. A security consultant will ask questions to understand your trucking business budget and needs. Then, they will create a security system that provides you with what you need.
As you interview security companies, ask to see their surveillance video clips. To help you with the interview, here’s a list of the best questions to ask a security company. To find out more about remote video surveillance for trucking businesses and how this proactive security solution can deter crime and save on costs, contact us today.
