3 Ways to Cope with Roller Coaster Market Conditions

In uncertain, shifting market conditions, predicting shifting consumer demand or the next move in international trade may be impossible, but there are three simple tools at your disposal that are always worth considering. Let's take a look!

#1: Maximize you fleet's operating efficiency

In uncertain market conditions it’s more important than ever to be efficient with the trailers you have on the road. This is where leveraging the latest trailer tech and trailer features comes in.

• Trailer tracking and cargo sensing, like the ones we use here at Premier, allow you to reduce costs, increase productivity and ultimately capture more revenue by providing real-time updates for your entire fleet. Make sure your team knows how to leverage these tools effectively.
• Intelligent reefer management, monitoring and remote control technology improves cold chain management and reduces costs. 
• CARB- and SmartWay-compliant aero devices and low rolling resistance tires increase fleet fuel mileage.
• And if you are a Premier customer, make sure you access our web-based customer dashboard often so you can work faster, more efficiently and with greater accuracy, thanks to the up-to-the-minute details on everything from the status of your trailer fleet to the financial and administrative details of your account.
  
  

#2: Optimize your trailer fleet size

Empty, idle trailers generate no revenue. But not having enough trailers to meet upswings in demand also leaves money on the table. In times of fluctuating demand, renting and leasing trailers gives you flexibility to scale your fleet to take advantage of changing market conditions and to reduce capital and operating expenses. Plus, renting or leasing trailers is a cost-effective way to upgrade your fleet to the latest equipment and technology even if you own enough trailers to meet demand.

#3: Keep your drivers happy

Even as changing government policies and regulations contribute to fluctuating economic conditions, one aspect remains: ATA estimates that the industry continues to have a shortage of more than 60,000 drivers. So finding ways to attract and retain your drivers is a key component of fleet management today. To fill positions, many carriers have used tactics such as raising driver pay, increasing bonuses, and offering incentives ranging from college tuition to stock ownership.

Here are some other ideas to consider:

• Trailer tracking and cargo sensing technologies can have a positive impact on your driver's day, too! Using these tools well can result in more efficient trailer assignments, more billable hours and more satisfied drivers.
• Accurate maintenance records and well-maintained equipment reduce a driver’s down time for service calls and repairs. Keep that in mind for your own fleet, but also your leasing partners.
• Trailers equipped with air ride suspension offer comfort on the road that drivers appreciate. 
• Speedy trailer check outs and returns get your drivers off the lot and back on the road quickly.
  
  

We'd love to help!

At Premier, we strive to make your day better, whether that’s through a faster check-out process, helping your team get comfortable with our trailer tech or simply by supporting you with our national branch network and flexible approach to leasing. Give us a call if you'd like to discuss how we can be a resource for you.