Increasing demand for freight capacity has contributed to record growth for Transport Exchange Group in the first half of the year. With driver shortages and fluctuating seasonal peaks piling pressure on the UK's logistics infrastructure, the company has seen the number of loads posted on its freight trading in the past six months expand by more than a third year-on-year.
A rising number of couriers, owner drivers, hauliers, freight forwarders and logistics providers are now looking to Transport Exchange Group to help asset utilisation and maximise efficiency. This has seen the membership of Haulage Exchange and Courier Exchange grow by 10 per cent so far this year alone to over 4,000 operators, creating a virtual fleet in excess of 40,000 vehicles.
Using the Exchange, members are connecting with other like-minded businesses to make best use of available resources and increase capacity during peak trading periods, maximising and expanding operational capabilities where required. In fact, the improved collaboration is enabling members to reduce empty running on average to just 9 per cent, compared with an industry average of around 27 per cent.
The value of the Exchange can be further highlighted by the engagement and feedback rates, with 97 per cent of members active on the trading platform every day and an overall job satisfaction rating of over 99.5 per cent. Moreover, with over a third of all transactions having feedback ratings, members are benefiting from a comprehensive measure of fellow member performance.
Lyall Cresswell, Managing Director of Transport Exchange Group commented: "These latest figures reflect our successful and proven track record to tackle some of the most common and difficult challenges facing the road transport sector. Using the exchange, our members are able to identify, develop and maintain lasting relationships with partners and subcontractors to create trusted networks, which maximise and expand capabilities where required. This is helping to meet their business and operational needs, boosting efficiency and ultimately increasing profitability."