Trucking companies everywhere are always looking for ways to become more efficient. Whether it’s driver or truck utilization or something else, most fleets have areas they could improve on.
Any stoppages would set off a rush among farmers and retailers to secure trucks to move their goods, most likely pushing up spot prices in the trucking industry and adding to cost inflation for industries that rely on trucking, said Priyesh Ranjan, the chief executive of Vorto, a supply chain platform.
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Trucking industry insiders and analysts have warned of elevated risk of trouble for the industry in coming months, as low trucking spot rates and diminishing demand for goods lurk on the horizon, boding ill for trucking companies and their employees.
A hearty welcome to the 47th edition of The Logistics Rundown, a weekly digest that aims to put some perspective on what’s brewing within the logistics industry. This is a space where we religiously dissect market trends, chat with industry thought leaders, highlight supply chain innovation, celebrate startups, and share news nuggets.
Trucking industry challenges have been exacerbated by the coronavirus pandemic. But the heart of the long-standing problem isn’t driver shortages, says Priyesh Ranjan, CEO of Vorto, a Denver-based automated supply chain software provider. Rather, it’s inefficiency and shifting demographics.
The trucking industry has been carrying a significant portion of blame for supply-chain issues that continue to affect stock on American shelves, but industry experts say a truck driver shortage isn’t one of the underlying causes.
A new platform named 5F from Vorto aims to create more opportunities for drivers and capacity for shippers. The fully integrated transportation platform creates access to cross-industry owner operators for shippers and carriers. Vorto hopes to maximize utilization rate and earnings for drivers and at the same time reduce the cost of inflation.
Vorto announces the launch of 5F, the industry's first fully integrated transportation platform set to create more opportunities for drivers and reliable capacity for shippers and brokers.