The trucking trade is understood for its labor challenges and speedy growth and bust cycles. When instances are good and capability is tight — like in right this moment’s market — obstacles are low for brand new entrants, which results in a glut of capability coming into the market and an final financial bust.
In the course of the month of June alone, 11,000 new trucking companies entered the industry. Typically, these new entrants do not have the enterprise acumen to navigate the cyclical drop in charges and the monetary pressures that include sustaining a truck. The context of this volatility shines an admiring mild on these corporations that thrive for a number of many years in these situations.
Pennsylvania-based PGT Trucking Inc., is one such firm, and 2021 marks its fortieth yr in enterprise. In 1981, Patrick A. Gallagher established the corporate in Trade, Pennsylvania. Over 4 many years, PGT Trucking has grown right into a state-of-the-art flatbed transportation firm, serving the metal, constructing supplies, equipment, oil & gasoline, uncooked supplies, aluminum, and automotive industries within the U.S., Canada and Mexico.
What has given PGT a aggressive edge amongst newer trade entrants is the corporate’s concentrate on sensible and strategic progress, in addition to cultivating sturdy relationships with clients and distributors. Immediately, greater than 1,030 drivers, upkeep groups, brokers and help employees work for PGT throughout 30 terminal places, protecting 1,000 energy items and over 1,500 trailers on the street.
“A part of our success has been PGT’s capability to adapt and prosper on this ever-changing transportation trade,” stated President Gregg Troian, who joined PGT in 1986. “Within the final 4 many years, this sector has seen main adjustments to its laws, financial highs and lows, and extra just lately, the addition of know-how. And whereas many different trucking corporations weren’t in a position to revenue and develop, PGT has stood sturdy, rooted in our basic cornerstones of non-public buyer relationships, worker growth, security and profitability.”
The pandemic pushed the provision chain into the highlight, as customers started panic shopping for and purchasing extra completely on-line. To satisfy growing demand, logistics and transportation corporations wanted quick knowledge and integrative tech for real-time visibility and analytics. In 2020 alone, $52 billion of venture capital flooded into the freight and provide chain know-how ecosystem, which exceeds the $32 billion invested in 2019. Somewhat than a nice-to-have providing, freight know-how has grow to be a necessity for transportation corporations.
Through the years, PGT has taken an progressive method to know-how, main the trade in fleet developments to enhance driver security and buyer satisfaction, together with ELDs, dashcams, automation and autonomous integration. Whereas know-how helps PGT achieve efficiencies and improve asset utilization, know-how with out trade experience and robust relationships does not guarantee success. Robust relationships with clients, distributors and staff have been key to PGT’s endurance.
“I’m so blessed to have such an incredible group of drivers and staff working right here at PGT, a lot of whom began with the corporate within the Nineteen Eighties and are nonetheless with us right this moment,” stated Gallagher. “In an trade that struggles with excessive turnover charges, I really feel that it is a true testomony of our ideas and our mission. We’re within the folks enterprise, not the trucking enterprise. It’s the drivers, the management, the help employees and the truck upkeep groups who’ve all contributed to the success of this group over the past 40 years.”
Whatever the low barrier entry for the brand new trucking corporations, as soon as they enter the trade, they face excessive gasoline and labor prices, driver turnover, a restrictive regulatory atmosphere and the specter of nuclear verdicts ought to a driver have an accident. PGT’s 40 years of enterprise is a feat — one which new corporations can examine.
“PGT has at all times been about folks; the workers and the shoppers, and constructing these relationships on belief, respect and loyalty,” stated Gallagher. “Trucking is a tricky trade, however we’re going to proceed to develop, rooted in our basic cornerstones of non-public buyer relationships, worker growth, security and profitability.”
With such a concentrate on its folks, drivers searching for new employment can discover large worth in PGT’s trade longevity and dedication to worker growth. For extra data, please click on here.
Picture Sourced from Pixabay