A few months ago, many might have predicted that 2020 would be a difficult year for railroad stocks. The shutdown of the U.S. economy in March caused transportation and shipping activity to slow to a crawl, and to be sure, most related stocks crashed. Furthermore, the oil crash specifically painted a grim long-term picture …
The transportation industry covers a vast spectrum of operations. From the local taxi company to large container ships, no other industry covers more ground than transportation. Learn about the importance of cost per mile and the value of this measurement standard to make a profit in the transportation industry.
One of the industries in the transportation sector is materials hauling. This is your dump truck industry. All of us see these trucks out on the highway usually hauling gravel or dirt. To profit well, efficiency is the primary business principle. Lack of efficiency drives up fuel costs, loss of time in hauling; increased maintenance and repairs, and finally customer dissatisfaction. This article is an introduction to this industry as a part of the transportation sector of our economy.
In any industry, especially transportation, it is essential for the owner of a business to understand how much it costs per mile to operate his vehicle, trucks or fleet. The formula looks simple and in reality it is; but you must understand the underlying elements to truly appreciate and comprehend the calculation.