Growing Effort and Solutions for Carrier Profitability in 2023
Growing Effort and Solutions for Carrier Profitability in 2023
A study by Truckstop revealed that freight carriers had to exert greater effort to remain profitable in 2023. The research, which involved more than 2,000 participants, showed that carriers faced significantly increased workloads throughout the year. On average, they were required to drive an additional 3,000 miles and haul two more loads per month.
\nDespite these challenges, companies grappling with rising insurance costs, growing freight fraud, and theft concerns experienced a decline in per-mile costs thanks to reduced fuel expenses. Truckstop CEO Kendra Tucker noted that carriers face numerous operational challenges daily, including volatile market conditions, fraudulent activities, and fluctuating profit margins.
\nThe company rolled out new operational features such as Enhanced Search Results and Route Maps to help users manage these issues, and implemented multi-factor authentication (MFA) requirements for load board, factoring, and RMIS carrier users.
\nKey Takeaways
\n- \n
In 2023, carriers drove an additional 3,000 miles and hauled two more loads per month to stay profitable.
\n Rising insurance costs and freight fraud and theft concerns emerged as significant challenges.
\n Reduced fuel expenses lowered per-mile costs.
\n Truckstop introduced new features and multi-factor authentication requirements to support users.
\n