Any logistics team knows that losing track of your equipment, even briefly, can have a big price tag. But ideally, you would be able to find any asset in your fleet, know whether it's being used and if it needs maintenance. If you’re struggling to do any of these things, real-time asset tracking can help. Here are the key advantages.
Utilise more, idle less
Can you imagine a world where you actually get the most out of your equipment investments? In many minds, satisfying demand for assets means investing in an overabundance of equipment. According to this logic, idle equipment is simply a cost you have to put up with.
But maximising utilisation is not a fantasy. First and foremost, it depends on your ability to locate equipment. Real-time tracking delivers this data to your doorstep. With real-time tracking data at hand, you’re never at a loss when it comes to finding equipment. On top of that, you can be aware of idle and underutilised equipment to optimise your inventory accordingly.
Relocate and recover
Lost equipment can be a significant financial burden to many logistics services. And recovering lost or stolen equipment takes both time and money with no guarantee for success. As opposed to manual asset tracking methods that require a physical scan, like barcode and RFID, real-time asset tracking requires minimal input.
With real-time tracking, you access a continuous stream of information about the equipment, giving you a flow of facts to find lost equipment. Not to mention, with continuous positioning technology it’s also possible to designate geofences. In other words, you can be notified instantly if your goods leave a specified zone – allowing you to act instantly and avoid a wild goose chase.
Prolong equipment lifespan
What’s the main reason you have to replace equipment? Loss, theft, damage and wear-and-tear can severely reduce the lifespan of equipment. Real-time tracking offers insights to mitigate each of these threats.
The threat of loss and theft is minimised with live location data. The threat of overuse is combatted by utilisation insights that allow you to distribute utilisation more evenly, avoid extreme wear-and-tear and prevent certain costly repairs. All in all, a detailed understanding of utilisation supports your ability to make assets last longer.
A premium logistics experience
With real-time tracking and next-generation asset utilisation, you create smooth logistics. You increase the likelihood that assets are in the right place, at the right time and in good working condition. Usage patterns and real-time location updates improve the experience for your logistics team, but the tracking data can also be shared with customers in creative ways to give them more insights about the service you provide.