With historic inflation and supply chain constraints amid high freight demand still creating equipment acquisition concerns, Corcentric \u2013 a financial procurement and asset management services company \u2013 recommends stepping up fleet maintenance and casting a wider net for suppliers.<\/p>\n
However, as used truck values soar, there\u2019s some suggestion that the interest rate hikes will help to bring down costs, which have soared at a historic pace, CCJ magazine reports.<\/p>\n
\u201cThat should help us correct a lot of this tremendous asset inflation,\u201d Garcia said during an equipment and supply chain outlook panel at a recent Corcentric Fleet Maintenance Conference in Charlotte, N.C.<\/p>\n
Used truck prices in particular have had astronomical gains over the past year.<\/p>\n
\u201cIt\u2019s effectively double,\u201d Dale Tower, vice president of used trucks at AmeriQuest, a Corcentric subsidiary, said during the panel.\u00a0Used trailers prices \u201chave pretty much tripled,\u201d Tower continued.<\/p>\n
When asked about supply chain impacts on\u00a0new truck and trailer inventories\u00a0for the remainder of this year and next, Corcentric vice president of capital equipment Sean Storey painted a similar picture offered by other industry forecasters.<\/p>\n
\u201cI think what you’re going to see is a repeat from this year to next. It\u2019s not going to get much better,\u201d Storey said. \u201cMost of your OEMs are not running at capacity. They’re building as much as they can, but there are things hurting them with supply chain disruption.\u201d<\/p>\n
As high prices and equipment constraints continue, Garcia recommends stepping up fleet maintenance.<\/p>\n
\u201cThe fact that you can’t replace [equipment] effectively, new vehicles aren\u2019t being produced fast enough to replace your existing vehicles and the fact that there’s so much freight out there to move, you need these vehicles running,\u201d Garcia continued. \u201cYou need that uptime so you really need to spend the money. The maintenance is so important on these vehicles. More important than ever.\u201d<\/p>\n
Shifting to a multi-supplier approach is also advised.<\/p>\n
\u00ab\u00a0Embrace multiple suppliers,\u00a0\u00bb Garcia said. \u00ab\u00a0It’s hard to commit to any one supplier anymore only for the fact that they just don’t have enough product. So you’re going to have to go to multiple suppliers. Talk to them. Talk to them about the needs that you have.\u00a0\u00bb<\/p>\n