In a challenging market with rising costs, dry van carriers must be strategic. Here are 9 proven ways to reduce expenses and boost your bottom line.
In a challenging market with rising costs, dry van carriers must be strategic. Here are 9 proven ways to reduce expenses and boost your bottom line.
1. Maximize Fuel Efficiency
- Drive 55 MPH instead of 60+ to save significant fuel.
- Use cruise control and avoid idling.
- Keep tires properly inflated.
2. Eliminate Deadhead Miles
- Book return loads in advance.
- Focus on busy freight lanes.
- Use load boards to find backhauls.
3. Optimize Route Planning
- Use GPS to avoid traffic and construction.
- Bypass weigh stations with services like PrePass to save time and fuel.
4. Control Insurance Costs
- Shop annual rates.
- Maintain a clean safety record.
- Consider dash cams for potential discounts.
5. Strategic Equipment Management
- Focus on preventive maintenance.
- Extend equipment life cycles rather than buying new in high-price markets.
6. Diversify Freight Mix
- Don't rely on one industry.
- Haul different cargo types to stay profitable during seasonal dips.
7. Invest in Technology
- Use telematics for real-time monitoring.
- Implement fuel management systems to detect inefficiencies.
8. Negotiate Better Rates
- Build relationships with trusted brokers.
- Know your local market rates.
- Highlight your safety and reliability to command premium rates.
9. Focus on Driver Retention
- Turnover is expensive. Retain drivers through competitive pay and respect.
- Experienced drivers lower insurance and accident costs.