TORONTO, Ont.–Benchmarking is a common practice in many sectors throughout North America. The trucking industry, dominated by many privately held firms, has typically not been a sector where benchmarking has flourished. The Ontario Trucking Association, through a new partnership with inGauge, is encouraging its members in 2016 to explore the benefits of utilizing benchmarking tools, it said in a recent release.
inGauge is a service created by StakUp Inc. and the Truckload Carriers Association. The service aggregates real operational data from the ‘mainstreet’ of trucking rather than allow the industry to rely on outdated operational benchmark data.
By harnessing this data and anonymously ranking members’ performance on ‘Essential Performance Indicators’, inGauge will help to identify and motivate OTA members to focus their efforts on the areas of business which could drive profitability and efficiency. Further, by adding filters based on geographic operating range and other important ‘subtypes’, inGauge will provide validation that the members’ efforts are making an internal and external difference.
A specific focus of this initiative will be targeting specialized sectors. These specific groups, such as private carriers, tanker and intermodal operators, have expressed a desire for timely and aggregated information to improve cost efficiencies. Further, niche operators such as those in the Quarter Load segment a popular operating model for OTA members), will finally be able to access accurate data to develop better operating strategies, said the release.
This exclusive partnership for Canada is the first major data aggregation project initiated by OTA, said the association.
Until April 30, 2016, OTA members are able to evaluate the service, free of charge, compliments of OTA. After April 30, OTA members automatically qualify for a significant discount to the regular subscription fee.