This fireside chat recap is from the FreightWaves Enterprise Fleet Summit.
FIRESIDE CHAT TOPIC: Dedicated fleet services
DETAILS: A discussion around dedicated truckload operations’ ability to provide elevated service metrics, at stable pricing levels, all in a fashion that offers a more driver-friendly environment.
SPEAKERS: JT Engstrom, FreightWaves chief strategy officer, and Steve Martin, senior vice president of Ryder’s dedicated transportation solutions.
BIO: Martin is responsible for the management, operations, sales and financial performance of Ryder’s dedicated transportation solutions business segment, a network of drivers, vehicles and operations dedicated to specific customers. At FreightWaves, Engstrom oversees the market expert team of analysts, FreightWaves’ proprietary research group Freight Intel and the commercial engagement team.
KEY QUOTES BY MARTIN
“When you think about this whole carrier network model and working with shippers, our focus is on how to build the right network to move freight. Whether that’s a combination of dedicated and contractual carrier networks, how do you look at the freight and how do you look at the operations and the service that the customer is requiring, and put together that best package?”
“If you’re dealing in a market like we are today, where you’ve got 25% or more first tender rejections, you certainly are going to want to have more of your freight moving in a contractual or capacity secure manner, because your service fees are going to go up in terms of your penalties.”
“We see the [driver] turnover in dedicated operations is much lower. I think drivers have a say in what and how they’re doing the work. They become a real participant in the process in terms of improving what they do and how they do it. I think that leads to a greater retention.”
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