What is Asset Tracking



When you’re wondering, “What is asset tracking?” you might be seeking more knowledge than a straightforward asset tracking explanation. We’ll go over the fundamentals of assets management monitoring, but before that, let’s address the fundamental dilemma:

Real time asset tracking  is a corporate software systems that allows you to determine where your highvalue assets ( gps asset), such as leased equipment, supplies, and personnel, track inventory are instantaneously and where they’ve traveled using rfid tracking. also allows ease of equipment maintenance and asset performance using realtime location system . this allows for improve efficiency , cost savings , accurate asset, realtime data and maintenance schedule to name a few.

While several monitoring techniques are available, ranging from asset monitoring worksheets to specialist asset tracking systems, every asset tracking system offers different advantages and disadvantages, as we will cover later in this article.

First but, let’s answer a few other queries you may have.

What is Construction Asset Tracking?

Construction asset tracking or  enterprise asset management pinpoints the precise location of every automobile, container, item of large machinery, lorry, and even other assets in a portfolio and what it does at a particular time during the job. This makes for assets location and tracking hardware using a asset management systems and iot technology.

It employs Global Positioning System (GPS) technology to notify fleet management whenever their hardware is operational.

GPS navigation software is pieces of hardware that are  equipment tracking and communicate its precise longitude and latitude via satellite communication and active rfid. That guarantees the resources could be tracked even within remote areas or regions with no cell phone connection.

Asset tracking additionally offers information about engine uptime, idle equipment utilization, movement, and other factors. Monitoring both on-site and off-site resources provides businesses with more excellent knowledge of their performance and intelligence for improved managing projects.

What Should You Look for While Choosing for the Asset Tracking Software?

Ask these questions regarding each software choice you look at while investigating the technology you need for your construction firm:

  • Is the price similar to that of other software products?
  • Is it possible to utilize it to handle valuable assets?
  • Is there built-in customized monitoring rfid asset tracking?
  • Is it possible to monitor my equipment tracking on time?
  • How much education is essential to understand the asset management systems, and is it available?
  • Is the program able to offer me a precise evaluation of my asset data lifespan?

Features Found in Construction Asset Tracking Software

A few of the common characteristics seen in building asset tracking software are:

  • An asset registry contains all of the information about a task that has been accumulated throughout existence.
  • There are many IoT (Internet of Things) compatible devices to select amongst, allowing asset tracking to be identified and recovered immediately.
  • Programs for repairs and equipment maintenance for every commodity.
  • The capability to use a mobile phone to online access using the Cloud.
  • Workflows for managing projects
  • The capacity to track assets location constructed “off-site,” whereby information such as materials utilized, on-site machinery, and papers could be readily inspected.
  • Budget monitoring and predictions of asset performance through cost savings

Benefits of Using Asset Tracking Software in Construction

So, what advantages can asset tracking bring your construction firm?

●       Most of Important of them all – Safety of gps asset from Potential Thefts

Tragically, the construction sector seems to be a prominent subject for stealing, regularly pursued by thieves and organized groups, as per a report conducted by the Chartered Institute of Building. Stealing from the worksites drains the bank account.

One may enhance the security of your worksite whilst minimizing crime and the impact on your capital reserves by monitoring the whole company’s resources, from the tiniest instrument to the most significant piece of machinery.

●       Manageable Way to Repair and Maintain Your fleet management

Wouldn’t you want your company to be successful? To achieve that, you must guarantee that every one of your types of fleet management is operating at optimum performance.

Asset tracking allows you to track when repairs have been done, when machinery has to be fixed properly, and when it requires replacement. Avoiding unplanned time wastage due to machinery breakdown will save you dollars.

●       Deeper Insights to Cost and Life Cycle of Construction Work

Asset tracking location system assists your corporation by allowing you to understand which equipment you possess, where they will be, and under what shape they seem to be.

Whenever you manage and monitor vital components, you’ll know what it costs to run them, whenever they need regularly scheduled maintenance, when it’s better to upgrade them. Tracking the life span of your assets allows one to anticipate whenever they will have to be updated.

●       A Higher Regard for Employee Safety

By preserving your resources, you decrease the danger of vulnerabilities on the worksite and prospective worker injuries. This also enables you to fulfill ISO 55001 requirements by maintaining your equipment is optimized to satisfy efficiency and security criteria.

●       Complete and Constant Asset Tracking

Your firm seems to have many assets delivered to and from worksites, moved among worksites, and retained on worksites. The investments will be much easier to follow if you use asset tracking during assignments.

Furthermore, asset tracking aids in eliminating invaluable assets and allows you to be preventative in the maintenance of more extensive machinery.

How to Use Asset Tracking for Preventative Maintenance?

Unlike paper documents, wherein transporters or technicians might readily encounter problems. Electronic monitoring correctly tracks direct labor hours and miles. This may feature integrated fault code monitoring, which warns engine faults before they become a concern.

That allows the fleet to match the necessary and preventative maintenance speed, decreasing the chances of a dysfunctional or damaged machine or equipment delaying the whole operation.

This also guarantees that they comply with just about any applicable rules that decrease the likelihood of damage due to problems such as a piece of loosened equipment guarding or equipment unexpectedly turning off.

Finally – Is an Asset Tracking Software Actually Worth it?

Using asset tracking software, your construction firm has 360-degree insight into the inventories, equipment, and supplies moved on each truck. Materials and employees may be tracked more precisely, from warehouses to automobiles to job orders.

That minimizes scarcity while also improving asset tracking. The construction teams will be more efficient and effective if lost assets are eliminated and stocked inventory is matched to regular task management.

You have complete insight into what assets are in inventory, whatever is placed into the company van and subsequently returned to safekeeping and estimated end-of-life deadlines, and accessibility to statistical and analytical reports showing vehicle performance.

These asset monitoring systems enable cloud technology, helping consumers to have safe, accessible data no matter where they might be.