Waypoints: Ideas and Insights to Navigate Enterprise Complexity

The Institute of Internal Auditors annual Gaming & Hospitality Conference was held last week in Las Vegas, Nevada. My first trip to Vegas and first time attending the conference left me with one major impression—the casino industry is changing as quickly as a game of blackjack can go south.

As I’m sure you’re aware, the trucking and logistics industry is one of the most regulated industries in the United States. Almost everything a trucking company does is governed by regulations, and complying with regulations is sometimes daunting and often frustrating. Ignoring applicable laws, however, can lead to heavy fines and losses in revenue.

For those in the trucking industry, it is no secret that one of the biggest challenges is the increasing shortage of drivers. The America Trucking Associations recently estimated the shortage is currently between 35,000 and 40,000 drivers – a number that is expected to rise due to economic growth and increasing retirement in the workforce. In addition to the driver shortage, the turnover rate has been as high as 95 percent during the last three years.

Consider these facts about the trucking industry in the U.S.: