Truck driver shortages and supply chain slowdowns

The global truck driver shortage has recently been making headlines. But experts say the shortage is not a new phenomenon. Truck driver supply has been dwindling for the past decade. However, a recovery in global demand, and shortages caused by Brexit and other supply chain issues, is making the problem more apparent to the public. 

Seeking alternative employment

As the FT explains, the driver shortage is self reinforcing. With fewer drivers available, the hours become longer and the work becomes more demanding. “Many report a vicious cycle of labour shortages resulting in more pressure on them to fulfil more deliveries, concluding it is no longer worth the strain and the long periods away from home.” 

In the short term, UK companies are increasing truck driver salaries. However, industry watchers say more far-reaching reforms may be needed over the long term. 

Supply chains and consumer prices

A shortage of truck drivers may seem to be a niche concern, but the consequences could be widely felt. In the UK, retail prices rose in August, and commentators are concerned about inflationary pressure. Some analysts worry that the truck driver shortage, and the increased costs of trade after Brexit, could ultimately squeeze consumers.

A long haul problem? 

The truck driver shortage is not the only supply chain issue importers need to contend with. The persistent higher costs of ocean freight and port congestion due to pandemic-related backlogs and increased demand (fuelled by factors such as increased online shopping) is putting pressure on traders.

Factories around the world are currently experiencing supply-side disruptions that threaten to halt manufacturing and increase costs. 

In order to remain competitive, importers urgently need to seek effective cost-savings solutions wherever they are available. Traders also urgently need effective strategies to get their goods to market as efficiently as possible. 

Integrated, adaptable supply chain solutions 

A supply chain is only as strong as its weakest link. That’s why importers rely on re:TRADE. 

re:TRADE, powered by VAT IT, is a complete supply chain solution that adapts to your business needs. We leverage decades of experience to secure the most cost-effective logistics infrastructure, maximise VAT reclaim, optimise your import VAT and slash through customs red tape, so your goods get to market as efficiently and affordably as possible. 

Get in touch with re:TRADE for a customised supply chain solution for your business.