There are several asset tracking technologies available, such as barcodes, QR codes, RFID, GPS, NFC, IoT and BLE. This post covers GPS devices and asset tracking: which organizations can use GPS asset tracking, and why it is considered one of the strongest options for tracking assets outdoors.
What is a GPS asset tracker?
A GPS asset tracker helps keep an asset safe, such as a delivery vehicle carrying costly inventory. It provides continuous monitoring of the asset’s position, so you always know where it is, and it can send instant alerts in an emergency. A GPS asset tracker is designed to protect your resources, such as equipment and other assets. An asset tracking system with live monitoring has several main components: asset tags, the GPS asset tracker and the asset tracking system.
What are the benefits of GPS asset tracking?
The benefits of GPS asset tracking are discussed below:
1. Saving fuel cost
With GPS asset tracking, you can see the complete route a vehicle is taking and whether the road ahead is clear or congested. If the route is full of traffic, you can change it accordingly, so less fuel is burned while the vehicle sits idle and money is saved. Employees sometimes use an organization’s vehicles for personal trips, which raises fuel expenses, and GPS helps reduce this unauthorized use. A GPS asset tracker also helps drivers take shorter routes so the vehicle reaches its destination sooner.
2. Real-time information
GPS provides real-time information about the exact location of your asset. With up-to-date information, you can make informed business decisions instead of relying on assumptions. If someone tries to steal your vehicle, you can spot it straight away: because GPS shows the current location, an asset operating outside its designated area is easy to identify and recover. A GPS asset tracker helps recover stolen assets and keeps them secure.
3. Better safety
Safety matters for drivers, vehicles and products. Drivers should follow all rules and regulations, and the organization has to make sure vehicles are maintained. Nobody wants a driver to call in the middle of a delivery to report a breakdown. When that happens, the delivery is delayed, customers are disappointed, and the product is at greater risk of theft. That is why maintenance must be done on time. A GPS asset tracker and asset management software help schedule asset maintenance: once a schedule is set, the software works out the next date and alerts you before maintenance is due.
Why is GPS a strong option for outdoor asset tracking?
GPS is a strong option for outdoor asset tracking because it tells you where your vehicle is on the road, so you can make decisions based on current information. For instance, if there is heavy traffic on the route, you can send the vehicle another way so the delivery still arrives on time and the customer is not kept waiting.
How is asset theft dangerous for business and how does GPS help?
Theft of equipment, especially costly construction equipment left on open sites, is an expensive and disruptive problem every year. Owners risk losing highly expensive equipment, and they also pay for the business downtime that follows while the work waits for a replacement.
This shows how much value is lost to theft and why it is important to take care of assets. A GPS asset tracker helps by providing location information and alerts when assets leave a site. It also helps recover lost assets, which avoids unnecessary expenses and saves time, because you don’t have to search for an asset to find out where it is.
GPS Tracking Protects Assets and Cuts Costs
There is no doubt that a GPS asset tracker can be extremely helpful. Combined with a real-time asset tracking system, it gives you data and analytics that support informed, strategic decisions and help you set future goals. GPS asset tracking can reduce maintenance expenses and extend asset life, because it improves asset performance and return on investment. It also helps keep total cost of ownership down, and tracking key performance indicators helps reduce asset failures and raise productivity. Investing in GPS-enabled asset management software can be extremely useful to asset-intensive organizations and helps them get more from their assets.
Frequently asked questions (FAQs)
What is the difference between indoor asset tracking and outdoor asset tracking?
Indoor asset tracking is used for assets that stay inside an organization’s premises, including organizations that cover large areas such as airports, construction sites and manufacturing plants. Outdoor asset tracking is used for assets that leave the premises, such as vehicles delivering products or inventory.
Which industry utilizes GPS asset tracking most?
Airport operations and airport shuttles, law enforcement, food trucks and manufacturing are a few of the industries that rely heavily on GPS asset tracking.
For which organizations GPS can be useful?
GPS can be useful to any organization that sends its assets and equipment outside its premises, especially in retail, manufacturing, warehousing, construction and healthcare.