The trucking industry is a vital component of the U.S. economy. The industry is no stranger to the impact of government regulations. A final rule has been announced by the U.S. Department of Labor (DOL), going into effect March 11, 2024, which revises the guidance on determining employee or independent contractor status under the Fair Labor Standards Act (FLSA).
Whether you're an up-and-coming trucking company or a well-established one, making investments in your business is unavoidable. Whether it's acquiring new trucks, trailers, equipment, or expanding your staff, companies often find themselves making financial decisions with varying degrees of frugality. However, the question looms: is being frugal with certain investments more beneficial in the long run, especially when considering the potential hidden costs associated with seemingly 'free' TMS solutions?
In every industry, there are risks that can potentially shut down operations. In the trucking industry, those risks can lead to an insurance policy cancellation, resulting in a halt in providing service as carriers. There are many reasons why an insurance provider will cancel a policy, but in recent years, they have been due to six reoccurring factors.
In the world of logistics, the adoption of Transportation Management System (TMS) software is a pivotal strategy for companies wanting to boost operational efficiency. From automating tasks to optimizing routes, TMS software emerges as a key tool for cost reduction, improved transparency, heightened customer service, and a sustained competitive advantage in the fierce logistics market.
