How Do Your Operational Costs Measure Up?
You are likely aware that the last several years have been very challenging for the trucking industry. The combination of many factors, including economic uncertainty, driver availability, volatile weather, and regulatory changes, have all been financially impactful. Are you concerned with how these circumstances may have affected your operational costs? Would it be valuable to understand how your operational costs compare to your competition? If you answered yes to either of these questions, you understand the value of benchmarking.
One of the biggest challenges to any benchmarking exercise is gaining access to accurate and meaningful external data. Fortunately for the trucking industry, we are supported by an excellent team of researchers and professionals at the American Transportation Research Institute (ATRI).
ATRI recently released its 2014 Operational Cost of Trucking Report, which is available for download free of charge at the ATRI website. The report offers an exceptional framework for you to analyze the current state of your business against your peers and target areas for continuous improvement. This infographic highlights some of the report’s key information, including the 3% increase in average cost per mile and the significant cost components of fuel and driver wages.