J.B. Hunt officials are developing what they call ‘behavior-based’ pricing to compensate for growing costs and regulatory pressures on truckers, says Gary Whicker, VP of safety services for the truckload carrier.
“We’re trying to tailor our pricing to shipper behavior,” he said this week at the 83rd annual Transportation Research Board meeting here in the nation’s capital. “Basically, our formula is that good behavior equals a lower price for our customers. We are adding extra charges for wait time, driver loading/unloading, etc., as a way to show our customers where the real cost is to us in the system,” Whicker explained. “That way, if they modify their practices to better fit our needs, they get a lower price.”
Using behavior-based pricing is also expected to help J.B. Hunt combat turnover and driver shortages.
“We’re trying to insure that we have a good driver supply, and that means offering competitive wages, more regular and frequent home time, and making the job more attractive,” Whicker said. “As a result, we are trying to find more ‘friendly’ freight - no touch freight, quick load and unloads – to help improve the truck driver’s job.”