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Factoring is based on the Gross cost needed to move a load. If a driver receives $5000 for a load, he then needs to deduct overhead costs such as fuel, tolls, maintenance, etc. Once these deductions are made, he may be left with 30% or $1500. If the load is factored at 5% that’s $250 or 17% of the drivers, net profit. Such a large cost simply because of a drivers miss-management of cash flow!
Factoring varies company by company, typically the lowest charge would be 2%, but only for the first 30 days. Currently, the lowest charge I have uncovered is a half a percent for every 10 days that the invoice remains unpaid. Flat rates are also offered but these are usually unfavorable if the invoice is to be paid promptly.
In Connecticut Gov. Lamont after losing a decision to mandate truck-only highway tolls, he is proposing a plan B. Plan B would tax big rigs on weight and miles driven in the state. Estimated revenue of ninety million dollars would be projected. The end game is to secure over five hundred million in federal aid for highway funding. Lamont is also looking to add a regional cap and trade that targets the larger fuel suppliers, ultimately adding five cents per gallon in cost.
These proposals face a rough road ahead as leading industry groups are already shredding the ideas. It’s uncertain at this time that that the Governors own Democratic legislature will support the proposals or if they will side with the Republicans as they did on highway tolls.
Biden’s plan for standard and heavy haul transporting companies will add four hundred billion dollars to the national budget over 10 years and three trillion dollars to an aggressive infrastructure program. He wants to be known as a champion of low carbon transportation, a strategy for the transportation industry and heavy haul trucking companies. Outlined in the plan are details to transition to a new generation of electric tractors and the advanced study of the airline and shipping sectors.
To keep transportation lanes moving while the positive impact on these initiatives is advanced with this plan to achieve the net-zero emissions end game by twenty fifty will include the following highlights. This would be accomplished by targeting the reduction of biofuel costs as this clean energy plan is started.
The development of more efficient engines would be a large part of the plan. These engines would power standard and heavy haul companies as well as many uses for the aviation and shipping sectors. To reduce the price range and access to the many charging stations of these newer technologies electric cars and trucks will be part of the transition plan.
All these plans can be accomplished here in the United States. The larger concern is the ability to hold the rest of the world accountable especially China and India as they enjoy developing country status waivers.
To reduce deadhead mileage and at the same time reduce carbon emissions in the standard and heavy haul transportation sectors flatbed trucking companies are embracing these new technologies at a rapid rate.
Because the long-haul trucking industry has been determined to contribute up to twenty-eight per cent of the greenhouse gas emissions this is critical to the continued reduction efforts of these carbon emission regulations. The supply chain demands this high mileage and heavy loads to stay current with market trends.
Ten-point eight billion tons of freight are transported annually representing seventy per cent of all goods that are moved domestically. The environmental protection agency has regulations in place to reduce these impacts in the standard and oversize shipment sectors, but they are hardly sufficient on their own. These greenhouse gas standards and the use of renewable fuels alone are not enough.
Flatbed trucking companies are looking toward technology to reduce these emissions while they ensure the timely movement of goods in an effective and efficient logistical flow. This kind of effort can make sure to offer much-needed sustainability for standard and oversize trucking improving efficiency because of the management and responsibility of these supply chains.
Challenges for the trucking industry remain difficult as truckers excel even as the COVID-19 pandemic continues. Key supplies and components are causing the deliveries of others to become strained. The added burden of this Holiday season has increased the logistical challenges for flatbed trucking companies. Keeping the shelves full of certain products during this unusual disruption is the challenge even for simple items like toilet paper, hams, and biscuits! Strategic supplies to hospitals and health care workers have taken priority as the pandemic continues.
Movement of goods as an essential operation needed to continue. Vehicle manufacturers shifted to produce personal protective supplies. Operational fleets now were delivering medical supplies, groceries and yes toilet paper! The industries, van and flatbed trucking companies stepped up and made the sacrifices needed to get the job accomplished. Once this new supply flow was accepted as the current new normal an unusual mix of balancing assets, personnel, responsibilities, processes, and on the fly changes was put into effect as a catalyst for meaningful long term changes.
“It is not the strongest or the most intelligent who will survive, but those who can best manage change.” Charles Darwin
Women in Trucking Webinar The Gender Impact in Trucking
Women in Trucking Webinar. The Gender Impact in Trucking: How to Recruit and Retain Women and the Data Behind It. Friday, April 17, 2019 1:00PM CT/ 10:00 AM PT REGISTER NOW. Studies show that women make for safer, more reliable flatbed truck drivers, accounting for fewer preventable accidents. Because they stay on the job longer driving more miles per month than their male counterparts. So join Women in flatbed Trucking’s complimentary webinar to learn the critical event data behind gender differences.
How to effectively recruit and retain women
How to effectively recruit and retain women in trucking. Data and fleet human resource experts will cover: Benefits of hiring and retaining women in flatbed trucking. Gender differences in critical events and dwell time scenarios. How non-binary gender identity impacts these findings, based on new data. Steps fleets are taking to make the trucking industry comfortable for women.
The objective for attendees of this webinar is to better understand the risk management process. Five steps target how these risk managers are applied to Cyber risks. This dynamic ever changing exposure is shared in presentations of stories and examples. It is sure to be informative and interesting.