On any given day, organizations manage many different physical assets. Having real-time visibility of assets – whether parts, valuable equipment, tools or storage containers – increases efficiencies, productivity, and profitability. In the construction industry, in particular, profits are dependent on projects being completed on time and on budget. If required tools are unavailable, this could result in costly delays.
The costs of replacing lost or stolen items affect asset-reliant organizations worldwide, as we discussed in The Business Case Behind GPS Asset Tracking. Today, we are taking a closer look at how businesses can drive efficiencies by effectively tracking asset usage and movement.
IoT enabled GPS asset tracking solutions have replaced what used to be mostly manual tracking and documentation processes, thanks to the emergence of advanced sensing technologies, resulting in real-time visibility of assets.
How can organizations effectively enable increased operational efficiencies?
GPS asset tracking solutions track – in real time – the movement and location of assets. Sensors enable notifications and alerts in the event that set thresholds are violated, such as valuable equipment leaving a construction site. In addition to reduced theft and loss, businesses are also able to increase productivity by having full visibility of all assets.
For example, businesses are able to optimize processes and scheduling if the availability of specific tools and equipment is known to them. Highly accurate GPS location and IoT sensor technology can be attached to powered as well as unpowered assets to provide real-time visibility into the location of all assets. Likewise, facility managers can identify underused assets and optimize redeployment of equipment across real estate portfolios, such as generators, by tracking asset movement, usage, and location. Sensors can enable smart building processes by effectively tracking occupancy and usage of set rooms, floors, or spaces.
Having global visibility with full history on the location and usage of each asset enables organizations to implement predictive maintenance programs to maximize usage and revenues while reducing costly downtime. Maintenance needs can be proactively estimated based on the asset’s average daily run time, downtime, and more. Tracking these metrics can help businesses save time and money, as issues can be spotted early on and fixed accordingly.
Knowing the location and usage of all assets in real-time is key for organizations to react quickly to issues and to improve operational efficiencies and productivity.
How to select a GPS asset tracking solution that best fits your needs?
When evaluating options, things to consider include the GPS tracker size, battery life, durability, data safety, real-time tracking capabilities, ease of installation and use, and more. Nomatik’s plug and play GPS trackers are installed in just minutes, providing global visibility to your assets with full history to enable organizations to improve asset efficiencies and increase revenues.
Contact us today to learn more.