Custom Truck One Source’s recent celebration of its 25th year in business and 65 years of our Load King subsidiary has been profiled by Construction Equipment Magazine.
You can access the article regarding the anniversary by clicking here.
Custom Truck One Source has been recognized as one of the best companies to work for in Kansas City by Ingram’s Magazine.
Page 20 of the May 2022 edition of Ingram’s Magazine features a profile of Custom Truck One Source and highlights our Veterans Employee Resource Group, Custom Truck University, and our engagement with the local Kansas City community as key features of our workplace.
By Leslie Collins – Staff Writer, Kansas City Business Journal
Mar 31, 2022 Updated Mar 31, 2022, 2:33pm CDT
Custom Truck One Source is embarking on a sizable expansion project at its Kansas City headquarters.
The builder and supplier of custom specialty work trucks is renovating a former Armco Steel building onsite, which will add about 220,000 square feet in the next 12 months. The expansion will create 100 new local jobs over the next two years in roles such as managers, supervisors, welders, fabricators and painters. The company, which went public last year, employs 1,988 companywide, including 742 in Kansas City.
To keep pace with customer demand, Custom Truck also will add between 20 and 30 employees this year to cover second shift operations.
“We have seen so much demand for our product, and it’s a great problem to have to be able to think about how can we build the number of trucks our customers are asking for?” Custom Truck COO Ryan McMonagle said.
Demand is coming from multiple industries, including Custom Truck’s biggest market, utility, which comprises 60% of its revenue. More transmission projects are popping up for upgrading the power grid to accommodate electric vehicle charging stations, and those projects need the equipment that Custom Truck provides.
Custom Truck’s rental fleet also has doubled in size since Nesco Holdings Inc. acquired the Kansas City company last year in April.
“There’s just a need for even more equipment, a lot of which is built here in Kansas City,” he said.
Over the past two years, Custom Truck has made “significant” investments in research and development, which has led to five new cranes debuting on the market. More new products are in the pipeline, said Ben Link, executive vice president of supply chain and production.
The expansion not only plays into Custom Truck’s research and development focus, it also allows the company to rely less on outside vendors and bring more painting and fabrication operations in-house. Another component of the expansion will serve the company’s parts, tools and accessories business.
“Our last major investment increased our output here about three times. That’s what we’re on pace to achieve this year. This paves the way for us to continue that growth,” Link said. “(This expansion) gives us control of our destiny.”
Including the cost of new equipment, the expansion and renovation project will range between $15- to- $20 million, Kansas City Operations Manager Chris Ross said.
Ross’ family, who founded the business, grew up in Kansas City’s Historic Northeast neighborhood, about eight blocks from the former Armco Steel plant, where Custom Truck now resides. Part of the family’s mission has been to revitalize the former steel plant site and give the area in which they grew up an economic boost. The new owners are pushing ahead with what the Ross siblings started, he said.
Last year, Custom Truck reported $1.16 billion in annual revenue. On Friday, about 30 employees will be in New York to ring the bell for the first time at the New York Stock Exchange. A mix of executives and a sampling of employees from throughout the U.S. will attend.
Ross recalled what his brother and CEO Fred Ross said about the coming trip: “It’s a surreal thing to see something that basically started from nothing – truck salvage to used truck sales to the national presence we now have.”
To start the business, the Ross siblings drew inspiration from their grandfather, who owned a local gas station and tow service called Falco’s Texaco service. Fred Ross worked at Falco’s, pumping gas, towing trucks and changing oil.
“To ring the bell himself at the New York Stock Exchange is pretty mind boggling. I think that kind of wraps up what we’re all feeling,” Chris Ross said. “I’m worried about what to wear. I’ve never been to New York even. It is a big deal. It’s hard for most of the family to comprehend.”
Have you heard of Zonar equipment tracking? If not, it is a valuable asset for businesses to track their purchases.
It helps companies know where their assets are at all times and gives them an idea of when they will need new products. Zonar, being a way of the future, proves it is evident that businesses must attempt to use these advanced possibilities.
This guide will discuss the benefits of using this system in your company, how it works, and what can be achieved with it.
If you’re ready to discover the powers of Zonar fleet tracking, keep on reading.
Zonar Equipment Tracking: What Is It?
This is a system that many businesses use to track their equipment. It gives companies real-time information about where the assets are and how this can help them in various ways.
Some of those benefits include:
These are just some examples, but there are many more possibilities with this asset management system.
Zonar Equipment Tracking: How Does It Work?
There are different ways that companies track their assets, but the most common is by using tags or stickers that contain barcodes along with QR codes that can be scanned.
These are placed on the equipment and then scanned when it’s time for inspections and maintenance. This will help give an idea of what needs to be serviced before there is a problem. It also lets workers know where certain products are located at all times.
Data can be viewed online, making it easy to make quick changes if needed! In addition, this feature eliminates the hassle of hunting around a warehouse to find something.
Furthermore, it can be integrated with other asset management systems, so all data is in one place. This way, everything is cohesive and easy to manage for any company interested in this feature.
Zonar Equipment Tracking Alternatives and Why They Are Not as Great
While Zonar equipment tracking is great, some alternatives don’t quite measure up. These systems include:
Radio-Frequency Identification (RFID)
This system doesn’t require a scanning device as barcodes and QR codes do, but the downside is that it’s not as accurate. RFID tags can be read from a distance, but they can also be interfered with if something metallic gets between the tag and reader.
Furthermore, it can’t be integrated with other systems and takes a long time to set up. If you’re interested in adding this system, it is possible, but many companies choose not to for these reasons.
Global Positioning System (GPS)
This option uses satellites to track assets. However, it can be very costly to set up and maintain. GPS isn’t always reliable either. Weather conditions or buildings can obstruct signals and make it difficult to read accurately.
GPS is not very efficient when it comes to tracking indoor locations. If you’re looking for a system that covers all bases, GPS may be the option for you, but keep in mind these potential drawbacks.
Using Asset Management Software Alone
This is not a complete asset management system and requires other means of tracking assets to be accurate.
As you can see, Zonar equipment tracking is the best way to go about keeping track of your company’s assets for more straightforward navigation, better maintenance, and less overstock and waste.
It lets workers know where products are located without having to guess or search around, which increases efficiency in every aspect of business operations!
How to Optimize Your Use of Zonar Equipment Tracking
There are a few things that you can do to make the most of this asset management system. First, workers should get in the habit of scanning products after every use and before putting them away at the end of their shift.
It’s also important to keep track of how much time has passed since one scanned anything, so you know when it might need to be replaced or serviced. too! This will help save money on inventory and avoid any problems down the road.
In addition, regularly check the online data to see what changes may need to be made. For example, if a particular product is being used more often than others, it might be time to order more of that item.
Finally, knowing where tools and products are is just one advantage, but seeing who does best under what circumstances (i.e. night vs. day shifts) makes Zonar equipment tracking even more beneficial by increasing employee productivity.
Zonar Equipment Tracking Conclusion
This system is valuable for any business looking to keep track of its assets. It provides real-time information about where everything is and how it’s being used.
This can help with maintenance, productivity, and more. Many equipment tracking systems work well for various businesses, so it’s essential to research before deciding on a particular one!
If you’re interested in upgrading your fleet management or want information about our new rental portal, give us a call.
Did you know that 72.5% of the nation’s freight by weight is moved by trucks? CDL truck drivers are a big part of what keeps the economy and the country running smoothly. It’s for this reason that there’s been a lot of concern recently about the shortage of truck drivers in the country.
Is there really a shortage of CDL drivers or is it just a myth? A Google search will show arguments on both sides of the aisle. However, according to the American Trucking Association, the United States is currently short roughly 80,000 truck drivers.
Are you curious to learn more about the truck driver shortage?
Let’s take a look at all of the different factors that impact this issue.
While the shortage of truck drivers has emerged as a big news story in the era of COVID-19, some of the issues leading to the shortage have been around much longer. One of the biggest issues that influence this shortage is the current workforce’s demographics.
Most of the people who work in the trucking industry are males above the age of 45. The Bureau of Labor Statistics reports that 55 years old is the average age of commercial truck drivers in the United States. This means that a lot of the workforce will be retiring in the next ten to twenty years.
This means that the industry needs to focus on attracting new, younger workers to avoid major issues in the future. However, in order to hold an Interstate Commercial Driver’s License, you must be twenty-one years old. This means that high school graduates must wait for three years before pursuing this line of work.
At the end of the day, younger workers aren’t getting into trucking as quickly as the workforce is aging out of it. 57% of truckers are over the age of 45 and 23% are over the age of 55. By contrast, only 20% of CDL-licensed truckers are under the age of 45.
It’s not that younger workers aren’t entering the logistics industry, though. It’s just that they tend to choose warehousing over trucking. In fact, more than 62% of warehouse jobs are filled by individuals that are under the age of 45.
Another important consideration is the fact that truck driving isn’t just a job, it’s a lifestyle. As the notion of work-life balance becomes more prevalent in our culture, many people aren’t interested in pursuing the lifestyle that long-haul trucking implies.
When new drivers join the industry, they are often assigned routes that have them out on the road for relatively long periods of time. Particularly when starting out, truckers might not return home except for a handful of times each month. It also takes a lot of adaptation to get used to basically living in a truck.
Driving a long-haul truck can cause issues when it comes to nutrition and sleep as well. On the highways, there aren’t a lot of healthy eating options. At the same time, truckers aren’t home often enough to consistently cook themselves healthy meals.
Sleep deprivation can also be a major issue for truck drivers. There is often pressure for them to get their freight to point B as fast as they possibly can. Not getting enough sleep can affect people both physically and mentally.
Not only can sleep deprivation make it dangerous for truckers to be on the road, but long-term sleep deprivation is linked with a number of serious health conditions.
Lastly, challenges that already existed in the trucking industry have been amplified by the COVID-19 pandemic. There has been reduced labor force participation in general, and this is also true in the trucking industry.
On top of that, trucking companies are also definitely feeling the impact of issues in the supply chain. It has been difficult to order parts to fix fleets and to order new trucks due to the global microchip shortage. The value of new and used cars has also been driven up because of this.
(Are you wondering what you need to do to maintain your fleet of dump trucks? Check out these six tips to keep your fleet running smoothly.)
To add insult to injury, the pandemic has also increased demand as more people have been ordering online. This means there is an uptick in shipping and delivery all across the country, increasing the burden on trucking and increasing the demand for CDL drivers.
As you can see, there are a lot of different factors that impact the shortage of CDL and under-CDL drivers. Some of these factors have been in motion for decades while others came on quickly, such as the coronavirus pandemic. Either way, it’s important that we understand the significance of the truck driver shortage, as trucking is a vital part of our nation’s economy.
If there were no more truckers, the entire framework of the American economy would collapse. The industries of healthcare, food, retail, transportation, waste removal, manufacturing, and banking would come to a screeching halt. Understanding the importance of truckers in our economy is essential if we want to avoid economic and societal chaos in the future.
At Custom Truck One Source, it’s our goal to provide high-quality products and services and to create stable jobs. Custom Truck has locations all across the country to serve your needs. Contact us for more information about out CDL and Non-CDL equipment.
Infrastructure is the core component of many operations globally, whether you’re looking at the food industry or the telecom industry. Infrastructure for the telecom industry is crucial in many aspects, as without it, there is no connectivity.
Traditionally, telecom providers needed to build their own infrastructure and bear maintenance costs for the same. However, with rising demand, constant technology up-gradation, and other complexities, infrastructure sharing has become more commonplace.
Telecom infrastructure sharing defines how infrastructure can be shared among different telecom providers and how it is done. Depending on your country, the regulations for sharing can be various. Keep reading to find out why infrastructure sharing is essential for today’s telecom industry and more.
When the telecom industry started booming, only a few players in the market had the significant capital to build the required infrastructure for optimal functioning.
While this infrastructure was built and these telecom monopolies functioned quite successfully in the industry for many years, they also began to face problems due to constant innovations in the industry.
Various infrastructural components that telecom providers require include:
The performance of all these components as a cohesive whole determines the quality of service that customers receive. Therefore, telecom providers must have the best equipment and infrastructure possible to keep functioning. Finding sites for building this infrastructure is also another problem that providers face. With more people indoors, the network demands for indoor areas have grown exponentially. However, due to space limitations within building structures and the unavailability of many sites for telecom providers, there is a constant struggle to find an optimal site.
However, from 2G to 5G, the constant upgrades require new infrastructure, which can be costly. Not only this, new regulations require providers to follow specific guidelines when installing this infrastructure. It can become problematic as the costs can become unsustainable after some time. It can quickly lead telecom businesses to run into extreme debt.
In such situations, telecom sharing provides an additional income stream for providers building their infrastructure from scratch. It also ensures that they have the funding to make upgrades and follow regulatory guidelines as they are released.
Telecom service providers are constantly attempting to increase their network capacity due to increased traffic and demand. However, handling increased traffic while increasing network capacity comes at increased costs, leading to providers’ lower profits.
In the United States, the Federal Communications Commission handles regulating all non-government use of radio spectrum, interstate telecommunications, and international telecommunications. The Telecommunications Act of 1996 further paved the way for deregulating infrastructure for telecom providers.
Through deregulation, the infrastructure competition increased. The Act enabled new providers who had just entered the industry to lease infrastructure that is or was used by other providers (even their competitors).
Many providers can also access legacy infrastructure (for 2G, 3G, and 4G) that providers who have moved on to the newest telecom technology don’t require anymore. With many bottlenecks in deploying 5G (such as banning specific companies from supplying 5G equipment in the country), telecom providers need to know how to tackle these issues without increasing costs. In such a situation, following regulations and other restrictions can be complicated and expensive for all telecom providers.
Through sharing infrastructure, duplication is limited (for creation of infrastructure) and amps up investment in uncovered areas, improves customer satisfaction, and directs more funds to research and development. Telecom providers who have to spend less to use infrastructure can invest in other areas to ensure better customer service.
Due to telecom infrastructure sharing, the high wall that has previously been barring new entrants into the telecom industry has diminished. An increasing number of telecom providers can now enter the sector without any problems.
When you’re wondering what types of infrastructure sharing models are in use by telecom providers today, there are several. The most prevalent type of sharing is technology. Depending on your requirements and aims, you can choose any one of the following:
The telecom sector is an essential component that drives innovation for many other industries. It is a core component for many processes today, and the industry’s success is crucial. However, as technologies continue to get more complex, telecom providers will have to find solutions to resolve these problems. These problems must be settled without driving up costs.
As the costs for implementing new telecom technologies increase, providers must know where to cut costs, and infrastructure sharing is one way. When you are considering driving down costs and using that in other areas to increase customer satisfaction, infrastructure sharing is ideal.
While spectrum sharing is still a hotly-debated topic, many hope it becomes adopted nationally to further drive down operating costs while increasing the profit margin. It is expected that it will be released with concrete regulations so that providers can reap the benefits.
Infrastructure sharing can take many forms, depending on each telecom provider’s individual requirements. To maintain optimal competition, services, and customer satisfaction, telecom providers must adopt this method for optimal success in the future.
When was the last time you ordered something online? Most likely it was very recently. The rise of e-commerce has taken our world by storm and changed how we shop, ship, and receive goods across the world.
Did you know that the global e-commerce industry is currently valued at $26.7 trillion? E-commerce has a huge effect on the economic sector and the global market as a whole and has changed the ways that companies do business and has even created new businesses.
In 1979, Michael Aldrich invented electronic shopping. Little did he know how much “electronic shopping” would change economies around the world.
The first large e-commerce sites that are recognizable today were created in the mid-1990s. Amazon, eBay, PayPal, and others started at the dawn of the internet revolution. At that time, no one knew how much of an impact these companies would have on our lives.
In the year 1999, shopping that occurred online made up only 0.5% of total sales. In 2007, that amount increased to 3.4%.
Now in the year 2022, online and shopping are synonymous. Data suggests that 63% of purchases begin online.
Buying things online is here to stay. The Covid-19 pandemic showed the world how important it is to be able to purchase things without going to a store. Even with the pandemic subsiding, people are still shopping online and that demand is expected to grow.
Purchases made by millennials are 54% exclusively online. A lot of this spending is now done via a smartphone. It’s said that 60% of online shopping time is spent directly on a smartphone.
Customers are also a lot savvier. Everyone wants to get the best deal possible. Most consumers research a product and its competitors before making a large or important purchase. People consult blogs, read reviews, and search multiple websites before making a purchase.
This means that businesses involved in e-commerce need to have a solid reputation and good reviews.
At this point, e-commerce and social media go hand and hand. It’s almost impossible to run a successful e-commerce business without social media.
Most companies today have social media accounts and post content daily to keep their user base engaged. Another trend that companies are investing in is purchasing ads on social media. 49% of people say they will purchase something they have seen advertised on social media.
Besides paid ads, a new wave of marketing has emerged: influencer marketing. Customers these days are willing to take advice and suggestions from someone they know or trust, rather than an ad aimed anonymously at the public.
Influencer marketing is so impactful that it’s currently valued at $13.8 billion. Influencer marketing is great for creating brand awareness and targeting a very specific niche which can help to drive sales. Data shows an $18 return on investment for every dollar spent.
E-commerce has helped streamline the world of B2B transactions. Retailers and wholesalers can enjoy a similar shopping experience to what a B2C would experience online.
E-commerce is also helping to explode B2B activities. In 2026, it’s expected that B2B transactions will exceed $63 billion.
One of the greatest improvements e-commerce has brought to B2B and other e-commerce models is an increase in efficiency. Because of the rise of e-commerce, many programs have been created to handle logistics that were once very complicated.
It has also shortened the product life cycle. Collecting data and using software to track every part of the process allows both wholesalers and retailers to pinpoint weak connections in their e-commerce ecosystem.
Online shopping has exploded people’s demand for not only fast but free shipping. This has forced logistic companies to reimagine their business from the product all the way through delivery to the consumer.
Most e-commerce companies have put focus on “Last-mile delivery.” This is one of the most important steps of the delivery process and this last step determines how fast a consumer can receive their goods.
The Last Mile involves fulfillment which usually happens at a warehouse, or a contract hub, and of course delivery. Delivery has changed with the rise for faster shipping; companies are moving away from large trucks to smaller vans that can make quicker and more local delivery runs.
To meet the demand for 2-day or sooner deliveries, companies like Amazon have relied on small vans and the gig economy to get their packages delivered on time. With both demand for faster shipping and the rise of operational costs increasing, logistics companies are facing a new era of innovation to keep customers happy.
E-commerce and online shopping are with us for the long run. Especially with the advancement of 5G and increasing access to broadband across the USA, companies will see even more demand for purchasing items online.
We will also see an increase in the usage of drones and robots. These technological advancements will become more common to reach our same-day delivery needs.
There will also be changes to supply chains. More local warehouses will be built and pop-up warehouses may become popular. Where and how products are manufactured will also see advancements to push products to the market faster.
We may also see a hybridization of shopping in-person and online. People may go to a brick-and-mortar store to see or try an item, but the store may not carry any stock.
Tracking capabilities will also become more advanced, letting customers watch every move of their goods.
Jobs inside the e-commerce world may also change as companies favor data, algorithms, and 24/7 warehouses.
Custom Truck offers Load King, legacy Terex boom truck, and a variety of other parts available via our e-Commerce site. If you don’t see what you need, contact us and we’ll point you in the right direction.
According to tire experts, truck tires are designed to handle a variety of different loads and conditions. Tires use a combination of heavy-duty rubber compounds and high-tech materials to provide maximum traction in all weather conditions.
While this information is true, it’s also important to know what kind of tire will work best with your truck. If you don’t know which type of tire will be suitable, then you may end up with a tire that doesn’t fit properly or one that isn’t strong enough. This can cause problems down the road.
So, before you buy any new tires, make sure you know what works best for your specific needs.
The following are several factors that should guide you when choosing truck tires.
The load capacity of a truck refers to how much weight the truck can carry without causing damage to it. It is important to note that the amount of weight the truck can hold depends on its size.
For example, a small pickup truck can only hold about 2,000 pounds of cargo. However, a full-sized truck can hold as much as 7,500 pounds.
Depending on the material used in tires, they will be either be light or heavy-duty. Light duty tires are usually made out of steel wire, while heavy-duty tires are made of polyester fiber.
Steel wire tires tend to be more durable than polyester fiber tires, but they do not last very long. Polyester fiber tires last longer than steel wire tires, but they are less durable.
When buying truck tires, always remember that thick tires offer better performance. Bigger tires can cover larger areas, giving off less heat during braking and acceleration.
Cost is another factor that must be taken into consideration when purchasing truck tires because many other things need to be paid for, such as gas, maintenance, insurance, etc.
Road conditions play an important role in determining what type of tires to purchase. For instance, if you live in a mountainous area where the roads are steep, narrow or affected by winter weather, you may want to consider getting smaller tires.
On the flip side, if you live in an area where roads are flat and wide, you may want to get larger tires.
Another thing to keep in mind when selecting truck tires is the brand. There are many different brands available today. Some brands are known for their quality, while others are known for their low prices.
So, when shopping around for truck tires, look for a brand that has good reviews from customers. Also, make sure to check customer feedbacks online.
Various types of tires are available depending on your needs. Here is a list of some of the most popular ones.
These tires are designed to perform well in both wet and dry conditions. These types of tires are ideal for trucks that travel through mud, sand, snow, gravel, etc.
Heavy-duty tires are great for trucks that carry large loads. They are built to withstand heavier weights and can handle rough terrain.
These tires are made for off-road travel, providing traction on unpaved surfaces like dirt, grass, mud, etc.
Winter tires are specially designed to keep the truck safe from ice and snow. They come in different sizes and shapes to suit all kinds of vehicles.
Mud tires are tires designed to work well in muddy environments. They are usually made with treads that are reinforced with metal bars. This makes them stronger and more durable
Quality truck tires will have certain features that make them stand apart from others. Here’s a look at some of the most common features:
This feature allows drivers to monitor the pressure inside the tires. It gives real-time updates about the air pressure in each one of the tires.
Run-Flat Technology allows you to drive even if one of the tires has a puncture. When this happens, it automatically inflates the damaged tire using nitrogen gas.
Traction control systems help prevent wheel spin by controlling how much power goes to the wheels. If one is driving down a slippery road, this system helps reduce the chances of losing control.
Pavements are grooves that allow water to drain away from the tire. The grooves also increase traction and improve handling.
Load capacity refers to the maximum weight a vehicle can safely carry without damaging its suspension system.
If you want to get the best possible value for your money, consider these points when looking for truck tires. Remember that no matter what type of truck you drive, you should always try to find the best set of truck tires for their vehicle.
Equally important is choosing the right truck for your needs. We can help! Contact us today.
KANSAS CITY, Mo., – February 17, 2022 – Custom Truck One Source, Inc. (NYSE: CTOS) today announced it will release fourth quarter and full year 2021 financial results after the market close on Thursday, March 10, 2022.
Management will discuss the results on a conference call at 5:00 pm ET on Thursday, March 10, 2022. The webcast and a presentation of financial information will be publicly available at investors.customtruck.com. To listen by phone, please dial 1-877-425-9470 or 1-201-389-0878. A replay of the call will be available until midnight, Thursday, March 17, 2022, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13727136.
ABOUT CUSTOM ONE TRUCK ONE SOURCE
Custom Truck One Source, Inc. (NYSE: CTOS) is a leading provider of specialized truck and heavy equipment solutions to the utility, telecommunications, rail and infrastructure markets in North America. The Company’s solutions include rentals, sales, aftermarket parts, tools, accessories and service, equipment production, manufacturing, financing solutions, and asset disposal. With vast equipment breadth, the Company’s team of experts service its customers across an integrated network of locations across North America. For more information, please visit customtruck.com.
Brian Perman, Vice President, Investor Relations