Without a doubt, the trucking industry—worth billions of dollars—is an essential cog in the American economic wheel. The vast majority of the goods that Americans buy every year—from clothing to food and everything in between—are transported by trucks. This industry is responsible for seventy-two percent, or eleven billion tons, of the total freight that moves across the US annually.
The sector has been in a state of crisis as of late. The number of people lacking truck drivers has increased by 30% since the pandemic began, reaching 80,000, according to the American Trucking Association (ATA). Driver shortages, issues with labor retention, and limited availability have plagued the sector for a decade. However, on the flip side, because economies worldwide are starting to recover and consumer demand is on the upswing, trucks cannot carry the items that were unexpectedly demanded, and ports are filled.
This is the industry's future!
Companies are now depending on technology to make current processes smarter and independent enough to overcome the industry's bottleneck, rather than relying on strategies like boosting freight capability and people, as the supply-chain becomes more dynamic and customer-centric daily.
Let’s get started and understand the updates and innovations in the trucking industry.
1. The Arrival of Autonomous Vehicles-AVs
The gloomy future of autonomous vehicles has long since passed. In 2030, the worldwide income from AVs in cities might reach $1.6 trillion, according to McKinsey's estimates. That's more money than Ford, GM, Toyota, and Volkswagen made in 2017! In their never-ending quest to produce fully autonomous vehicles, companies like Waymo and Tesla, owned by Alphabet, constantly add billions of miles of real-time data to their artificial intelligence systems. As the trucker news suggests, trucks, with or without drivers, will soon be available at the touch of a button!
2. The Skynet of Trucking System
One application of autonomous vehicle technology, platooning, might finally end the ten-year-old truck driver shortage. In this scenario, a platoon of digitally and physically linked autonomous vehicles would be controlled remotely by supercomputers powered by artificial intelligence. A semi-self-driving truck, developed and tested by Daimler, has been given the green light to travel on Nevada's public roadways as a proof of concept for this project.
3. Workflows to promote transparency and visibility
Businesses are turning to technologies that may provide them a bird's-eye perspective of all the interrelated end-to-end logistical processes, known as advanced supply chain visibility. All participants in such an ecosystem are involved since shippers are strategically positioned between suppliers and consignees.
One example of a multi-modal initiative is GoShipment by GoComet. In this program, all parties involved in the supply chain, from freight forwarders and CHAs to the consignees, work together to track shipments and goods at each stage with the help of dynamically estimated arrival times at docks and facility centers. Because of the high level of visibility, not only can the trucks be scheduled in advance, but they will also arrive punctually, saving you from the dreadful detention penalties.
4. Digital Market
One way technology facilitates truckers' ability to book their next load from any location and at any time in response to any ad hoc inquiry is through automated freight matching. Businesses like Uber Freight and Convoy are constructing an open and all-encompassing freight and drayage economy. Drivers can choose their cargo, routes, and working hours. As a result of Amazon's influence, end users now expect digital marketplaces to meet their expectations, such as two-day shipping.
5. Transportation Management System (TMS) Strategy
Streamlining and efficiently executing all procedures, from acquiring freight rates to tracking end shipments, is what a smart Transport Management System is all about. With a strategic fleet management platform, current FTL and LTL providers can be onboarded more easily, procurement can be digitized, and all freight activities can be more effectively documented without excessive paperwork.
Modern trucks are outfitted with state-of-the-art GPS tracking systems backed by telematics. This setup guarantees that every step of the trucks' journey is recorded and communicated to the relevant parties.
6. Platforms for Mobile Devices
With the proliferation of smartphones, trucking companies have taken advantage of the opportunity to streamline their operations by developing industry-specific mobile apps. By providing drivers with vital real-time information, mobile applications help trucking companies keep organized and ensure on-time deliveries. Administrative tasks like payroll and billing can also be simplified using mobile apps.
By lowering the threshold for entry and streamlining the process of sharing load-related data, mobile apps improve communication between dispatchers and drivers. Furthermore, drivers can access various services through their mobile apps, including recommendations for fuel-saving measures, information about rest areas, and roadside help.
One further way trucking companies can connect with clients is through mobile apps. The whereabouts of customers' orders and shipments can be monitored with relative ease. Customers can monitor the whereabouts of their shipments and get an idea of when they will arrive, thanks to the automatic, real-time notifications they offer. A customer's shipment and the designated truck driver's performance can be monitored.
In the end!
Adaptation is essential since the world is constantly changing and developing. The current state of transport management systems is being revolutionized by technology. Consequently, companies must now realign themselves with emerging technology or risk falling behind.
