Where’s That Trailer? Value of GPS Trailer Tracking

Knowing where loaded trailers are located is protecting revenue

 

EquipTrac.com dry van

With all the talk of the E-Log mandate coming down from FMCSA this month, asset based carriers need not lose sight of where the money in the equation is located, in the trailer. It’s like the Chicken and the Egg analogy, which came first? In this case, which is more important regarding tracking, the Truck or the Trailer? 

The truck is the power, obviously, that pulls the trailer. It is the part of the equation that costs the most to keep on the road – engine breakdown, tires, brakes, drivers, insurance, fuel. Without the truck, the trailer becomes a storage facility not generating any revenue. But, coupled with a truck, it is arguably the more important side of the equation. It’s where the load is located which is what the shipper is paying for. Shippers don’t pay for the truck. The trailer is MONEY side of the equation.

So, if you agree that the trailer is the MONEY side of the equation, wouldn’t it make sense to have a GPS trailer tracking system in place? If an asset based carrier has a driver that goes MIA while in route to deliver a high paying load, why care where the truck is? It’s the trailer that needs to be recovered quickly in order to have the load delivered on time and get paid, right?

On the other hand, what about cargo insurance? Most carriers have a standard $1M cargo limit on their policy. What if a carrier gets a load valued at $2M and that trailer goes missing? Not only will the load not be paid but the carrier is OUT OF POCKET $1M – OUCH! As a Fleet Manager, how would you like to go to your boss and tell him that news?

Don’t get me wrong, with Hours-Of-Service requirements, and soon, E-Log requirements, Fleet Management Software for trucks is no longer an option, it’s a necessity in today’s trucking industry. Operations Executives and Fleet Managers have their hands full, not only keeping up with ever changing federal regulatory environment, but also selecting Fleet Management SaaS providers that can meet all their needs at an affordable rate. This is why the trailer side of the equation usually gets pushed to rear burner until a missing trailer puts someone’s job on the line.

The EquipTrac SaaS platform can keep asset based carriers in compliance with truck regulations and track all company owned trailers with one system. For a no pressure demo of our SaaS platform, contact us here