Carrier asset utilization and allocation best practices to reduce operating costs

The freight transportation industry has always been slow to adopt new advances in tools, software and automation. Not a lot has changed when it comes to fleet asset utilization within the supply chain. However, 2020 helped shed light on just how behind the industry is compared to others.

The need to improve fleet asset utilization and to maintain better control over trucking costs is absolute. As explained by the Harvard Business Review, “consumers will continue to want low prices (especially in a recession), and firms won’t be able to charge more just because they manufacture in higher-cost home markets. Competition will ensure that. In addition, the pressure to operate efficiently and use capital and manufacturing capacity frugally will remain unrelenting.”

Maximizing asset utilization will remain key in 2021. And to help carriers achieve that goal, this white paper will explore a few best practices to reduce operating costs, including:

  • The importance of meaningful data capture.
  • Prioritizing moves based on inbound and outbound data trends.
  • Industry expert guidance as a best practice.
  • Tracking and applying equipment data insights.
  • Visualization capabilities.
  • Using data to streamline RFP processes.

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What's the SONAR ROI?

By increasing the number of loaded miles per day your drivers drive by 1% and your rate per mile by $0.03 you will make more per week #WithSONAR.

#WithSONAR you can save up to per week through better bid negotiations and more effective management of your routing guide.

#WithSonar you can add 1 more load per person each day and increase $5 margin per load, earning your company an extra per week.

Disclaimer: Every company’s circumstances are unique. Fixed and variable expenses, market conditions and operational factors vary. Unforeseen events may also affect results. Calculated potential results reflect the consensus expectation of FreightWaves’ experts. Actual results may vary.

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