It is hard to imagine a truck shortage when trucks seem so abundant lately. However, the seeds of such a shortage are being planted now and those responsible for shipping freight should prepare.
2008 saw record numbers of trucking company failures. With the economy expected to stay soft in 2009 it is likely that many more trucking companies will be shutting their doors. There are simply not enough loads available for current truck capacity.
There is a significant difference between this industry crisis and others caused by recession in the past. Russia and other eastern European countries are buying many of the trucks that are being taken off the road in this country. These trucks will not be coming back. Also, before the economic downturn, carriers reported significant driver shortages. The slowness in trucking has turned even more drivers away from the industry, many of them for good.
The bottom line is that truck capacity will be slow to adjust upward when demand increases. This will lead to truck shortages and higher prices. We at Matchmaker are preparing now by taking the following steps:
– Using web based technology to reach out to more carriers more quickly.
– Be more flexible by offering multiple pay options at lower cost to help carriers that have need for quick cash.
– Grow and refine our carrier database so we can target our customer’s needs more effectively.
– Maintain our high credit rating and reputation as a leader in the third party logistics industry.
Our focus is to continue to treat carriers as customers. Just as we have done since the inception of our business in 1982. We will continue to look for ways to provide more value to carriers and shippers so we will be their broker of choice through good times and bad
