TMW study highlights benchmarking statistics

Study results highlight improved utilization and financial performance among many carriers, year-over-year, as well as the value in leveraging developed carrier networks to achieve stronger gross margins for brokerage/non-asset service providers. Insights addressed in the study include: •Driver retention—Survey responses underscore the clear relationship between driver wages and retention. Length of haul and utilization also emerged as important factors in driver turnover. •Rates—Truckload carriers in the study averaged 7% net rate increases, a trend of interest for brokerage and third-party logistics providers as well as shippers. •Asset utilization—Many survey respondents successfully leveraged new technology to achieve gains in utilization. As one example, dedicated fleets that utilize planning optimization experienced an average year-over-year increase of 142 revenue miles per seated truck per week. •Fleet maintenance—Participants reported greater difficulty in gaining visibility into equipment maintenance metrics than any other functional area, and most indicated they do not adequately track maintenance costs by equipment age group. •Operating ratios and margins—A majority of participating asset-based businesses reported operating ratios of 96% or lower, a healthy increase over 2014’s results. Gross margin variations for brokerage and logistics service providers are also analyzed in the study according to operational mix. Participants in the annual study survey receive a comprehensive version of the report that includes detailed response metrics for more precise benchmarking insights and KPI planning. Visit www.tmwsystems.com to download a summary version of the study and to sign up to receive the survey questions for the 2015 study.