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Deliver the loads, and leave the rest to LoadMiles.

High Trucking Failure Rate

The trucking industry is facing a high failure rate, with an estimated 60-80% of new companies failing within their first year of operation. This alarming trend continues, with around 90% of trucking companies not surviving past five years.

Why do trucking companies fail?

The main reasons for the high failure rate in the transportation industry are
complex, multifaceted, and depend on a variety of factors.

Operational complexity:

For newly established companies, managing operations in the trucking industry poses significant challenges. Trucking operations are demanding and time-consuming. Most significant issue is dispatch management coping with unpredictable weather and traffic that hinders normal operations.

High Costs:

Higher operational cost is another big problem truckers have to face. Main costs include acquiring a new truck, maintaining it, buying fuel, and paying drivers. Thus, truckers need to consider the startup costs which are large.

Competition:

The intense competition and saturation of workforces are increasing competition among trucking companies on driver pay, hindering profitability for many companies.

Financial Incompetence:

The poor financial management practices observed in many trucking companies can be attributed to several reasons. Poor recordkeeping, bad cash flow management, and inadequate budgeting.

Regulations:

New trucking companies face significant compliance costs. These regulations, which cover safety, hours of service, and other compliances, are complex to adopt and expensive to implement.

HOW LOADMILES CAN HELP YOU

With LoadMiles, you can effectively manage and optimize trucking operations. These trucking operations use Artificial Intelligence, human intelligence, and financial expertise. Even during challenging times, businesses can increase their chances of success and growth with LoadMiles.

Dispatch Management

It is difficult for trucking companies to negotiate rates, and schedule loads, tracking delivery and communicating statuses. Due to these challenges, operations are often inefficient and delayed. Also, there is a chance of documents loss and misplacement.

With LoadMIles TMS, dispatchers are streamlined. It also automate a variety of tasks so that they can focus on more important tasks. The services include:

  1. Recommending pricing
  2. Creating loads from Rate Confirmations
  3. Scheduling and generating delays alerts
  4. Reminding of upcoming loads, and enforcing proof of delivery.

Performance and productivity are enhanced by these automated processes.

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Capacity Planning

Many small businesses struggle with planning capacity and measuring performance, leading to inefficiencies and potential financial losses.

LoadMiles (TMS) can assist you in several ways. It helps businesses plan capacity, set goals, and measure performance. By assigning capacity to each resource, businesses can identify areas for improvement and maximize profitability by effectively utilizing their resources.

Hire Trucks and Carriers

With extensive paperwork and documentation involved in managing trucks and trailers, it can be overwhelming to track all the necessary information. With LoadMiles (TMS), you can streamline and simplify this process. By centralizing data, our TMS helps efficiently manage equipment purchases, registrations, repairs, maintenance, disposal, insurance, and compliance. Say goodbye to paperwork hassles and optimize your truck and trailer operations.

Financial Management

Many small businesses struggle with disconnected financial systems that make it difficult to track expenses and understand how money is being spent.

LoadMiles offers a tightly integrated Operations and Financial system that fills this gap. By tracking expenses at the source of events and connecting them to critical operations, businesses can efficiently manage cost centers, plan budgets, and measure the operational and financial costs of running trucks per mile and ton miles.

Safety and Compliance

Trucking carries risks on the road and must follow strict regulations. Not complying can lead to losing the right to operate.

Preventive maintenance and periodic inspection checklists provided safety and compliance, helping drivers meet regulatory requirements and maintain their authority to operate.

Hiring and Retaining Talent

Hiring and retaining talent is a challenge for small businesses. 

Using LoadMiles, you can automate mundane tasks with AI and receive back-office service with human expertise. Small businesses benefit from the combination of advanced technology and personalized assistance. In this way, making it easier to recruit and retain talent.