Documentation Sufficiency

State consolidated emblems, state gaseous emission pass, state driver’s badge, Niger Delta Development Permit, National Union Stickers, Inter-Auto Trade Supply Permit, Vehicle operational Permit…e.t.c. and other mandatory emblems without which your journey beyond the western states could be a living hell in the hand of touts and local government officials. The set you obtained for both the full year and half year are probably due for renewal. You may need to review the responsiveness of your contact person in relevant locations to cases of harassment (which the possession of required emblem still does not protect you from) since most times, the contact person probably facilitated the emblem’s procurement. You may on the strength of this decide on continuing with the agent or switch to a more responsive candidate. It could also prove to be a stitch in time that saves nine if you verify that arrangement have been perfectly concluded to have the expiring vehicle licences, road worthiness, state carriage and heavy duty permits e.t.c. renewed on time.

 

Treasury Management

Not many haulage firms in this part of the world attach much significance to money or liquidity management. A well-managed haulage company operating healthy contracts with sound FMCGs is a potential cash-cow! Aside leaving the monies in the bank probably to service maturing loan obligations and offsetting operational costs, what else can you do with that spare liquidity pending when another critical expenditure crops up? We have heard of a number of haulage firms leaving as much as N100-N200million sitting idle in a non-interest earning current account for upwards of 1 to 3months! If you belong to this category, it could be said that you have been very unfair to yourself. Perhaps it’s about time to consider either sitting down the treasury operations department of your bank for a heart-to-heart talk or maybe get talking to professional financial and asset management firms who would advise on what investment vehicles/options you can safely lock your extra funds in while still earning some good returns on your sweat.

 

Driver Management

No better time than now to specially appreciate and acknowledge your priced assets for a job well done. Such objective parameters or Key Performance Indicators (Please read up Key Performance Indicators for better understanding) as best maintained truck, most safety-conscious driver, least problematic truck, cleanest truck, highest number of trips concluded, least sanctioned or sanction-free driver; most friendly or well-behaved driver, most preferred driver (client’s choice based on track record) e.t.c. are some of the yardsticks that can be drawn up to appreciate drivers.  In the same vein, there also couldn’t be a better time than now to weed out consistently delinquent drivers from the pool.

 

HMO & Work-men Compensation

You may also want to appraise the functionality of the HMO arrangement and the life and disability assurance policy in place. Were these arrangements really beneficial to the people for whom the idea was conceived? How many were able to successfully access the benefits of the HMO? Do they get quality treatment as and when required? Were the preferred insurance company swiftly responsive for any claim having to do with death or disability in the course of the year? Or maybe you belong to the class of haulage firms that believe stuffs like these are unnecessary luxuries for your priced asset? If you are, then look no further for the reasons behind the several ills plaguing your business such as shortages, pilfering, underhand deals, repeated damages to trucks and collusive assets stripping throughout the year. Your drivers and other staffs are probably helping themselves to what was wrongfully denied them! Salary upgrades, no matter how small, is also something that the organisation may consider at this point in time.

 

Training Plan

If your HR has done its job by drawing up a training calendar for all categories of staff for the incoming year, then kudos! Otherwise, it’s something that has to be demanded straightaway. The next level logistics we have been consistently advocating on this platform is only possible to the effect that the system boasts of well qualified and capable personnel. Aside from competences picked up on the job, systematic training is required for every staff to enable them smoothly upgrade to the industry/international standard and also explore and learn about work ethics or fleet management styles that are probably working better elsewhere in another company or clime.

 

Counterparty Contract

Most corporate haulage firms render non-exclusive services to 2 or more FMCGs or other categories of major haulage services users. These relationship or partnership are premised on some terms and conditions legally crafted in the form of contractual agreements. Since those contracts are renewable every 2 or 3 years and in some cases 5years, it makes a lot of sense that a dynamic haulage firm would seize the occasion of each end of year to review the terms and conditions against the actual performance of the parties concerned during the year. You may want to review how well you have delivered on your obligations. Where some shortcomings are observed, you may want to strategize on ways and means of ensuring that they are improved upon in the incoming year. You may also want to assess how well your client has performed most especially with respect to regularity of loading, speed of invoice processing and actual payment and so on and so forth. At the end of the assessment, you may have facts to determine which contract is worth your time and investment and which would probably have a higher call on your valuable assets in the incoming year.

 

Concluding Remarks

Essentially, we have escalated in detail pertinent issues trusting that they will not escape your attention as you wine and dine in celebration of the yuletide. But in the end, what you really need to know is this: Nobody can put the power of these reminders to work for you and your business like you. You most likely understand the vision better and clearer than anybody in the system and therefore sparing some quality time to ensure that all is working according to plan in the midst of the euphoria wouldn’t be too hard a cross to carry for the success of your enterprise. A painstaking and careful closeout of all identified issues will appropriately position the company for a greater outing in the New Year

Comments

comments