“Just when I thought I was out, they pulled me back in.” Some of you may recognize this famous quote from the infamous Michael Corleone, in the Godfather III. This is undoubtedly the thought some transportation providers must be feeling regarding this rise in fuel prices again. Whether or not the $4.00 dollar fuel will be short lived, or become more of a permanent fixture in the market is really anyone’s guess at this point, given all the situations going on across the globe.
These up and down prices are tough to plan for, but having a plan to deal with cash flow issues that fuel prices can cause will hopefully make the ride smoother. Though fuel issues are on everyone’s mind in the U.S., not just the trucking industry, there are some other hurdles the industry is facing that are worth noting.
One of those issues facing the industry is a shortage of drivers. Industry polls support the driver population was aging, thus coupled with closures in the trucking industry, a shortage was inevitable. Many people feel this problem is already on the mend. With many displaced workers across the country and freight capacity on the rebound, more and more people are getting trained to enter the industry as drivers. Sooner rather than later, this shortage of drivers is becoming less and less of an issue.
The trucking industry has suffered quite the roller coaster ride over the last several years. As things appear to be moving forward positively within the industry, more companies will need to optimize their cash flow, and run a more efficient operation. RMP’s transportation factoring can do just that, by providing you funding and fuel cards to avoid cash flow complications, on-line reports and collections to streamline your back office operations, and credit reports to help you weed out those less than stellar brokers and shippers.
Chad Wulf, Vice President