What is Real-Time Asset Tracking?

Real-time asset tracking has revolutionized fleet businesses worldwide because it provides consumers, as well as business leaders, access to immediate information about shipments. GPS tracking alerts you in real-time, 24/7, on the status of your vehicles and cargo.

Equipment tracking instantly locates where your assets are and how they’re being used during operation or after hours.

Whether you manage a fleet of trucks or heavy equipment, visibility is crucial to your success. Asset tracking software from GPS Trackit offers consistent monitoring, reliable protection, and quick recovery of your assets.

The software saves you time and increases revenue with streamlined operations and accurate billing.

Smarter Fleet Management with Real-Time Asset Tracking

Real-time asset tracking monitors the physical assets that an organization owns either by scanning barcodes, QR code labels, or using technology Near Field Communication, Bluetooth Low Energy, Radio Frequency Identification (NFC, BLE, and RFID) to tag assets and broadcast their location.

Side note, you’ve seen these types of trackers on jeans at the mall or on electronics at big-box retailers.

Organizations need real-time asset tracking as it provides an overview of many operations occurring inside the premises of any business.

Real-time asset tracking is also available by mobile and web applications. It gives you answers to the following questions while saving you time and money.

• For basic information, where is the asset currently located in relation to its destination?
• For personnel, who is assigned to the asset, and are they reachable?
• For efficiencies, what is the current status – are things on-time, ahead-of-time, or running behind?
• For forecasting, how much time is it taking?
• For hyperlocal data, Is the asset inside or outside the premises?

Asset Tracking for Loss Prevention

Businesses utilizing heavy equipment and construction equipment can use machine asset management software as a way to prevent theft or damage. By setting geofence boundaries, the software can help you know where your equipment is and if it is being used without authorization.

Heavy equipment tracking devices don’t just show you where your equipment is, they offer peace of mind by alerting dispatchers and managers to activity involving the devices. Construction equipment theft is a real problem today because there is a shortage of assets and parts for them. OEM’s are far behind delivering new equipment to buyers due to the COVID labor shortage. 

The International Risk Management Institute  reports that ignition locks, inventory marking systems such as RFID, and GPS tracking devices are the leading methods of equipment theft deterrence and tracking. Businesses utilizing heavy equipment and construction equipment can use machine asset management software as a way to prevent theft or damage. By setting geofence boundaries, the software can help you know where your equipment is and if it is being used without authorization.

Data-Rich Reporting

Real-time asset tracking can help you proactively support your business by providing you with robust information on your fleet all-in-one platform.

With GPS TrackIt’s asset tracking solution, reports and alerts can be configured to automatically go to the right managers, making it easier than ever to get the information you need about your fleet exactly when you need it. For example, you can receive real-time temperature, speed, safety, and fuel monitoring reports — and all are easily customizable.

Data storage is unlimited with our records, which are kept safe so you can access the material at any time.

Asset Tracking Benefits & Cost Savings

Additionally, insurance costs and risks can be reduced by improving security and monitoring efforts.

What is indoor asset tracking?

Beyond tracking fleets and other typically-outdoor assets, organizations are increasingly turning to indoor asset tracking to optimize operations and protect their investments. Understanding the basics of indoor asset tracking can help business leaders make informed decisions about whether this solution could benefit their company.

Simply put, indoor asset tracking is the process of using technology to track the whereabouts of objects as they move through an indoor space. This can be done for a variety of reasons, such as improving operational efficiency, reducing loss and damage, and increasing safety and security.

There are a variety of technologies that can be used for indoor asset tracking, including Wi-Fi, Bluetooth, and RFID. Each has its own advantages and disadvantages, so business leaders should carefully consider which technology would be best suited for their specific needs.

Generally, indoor asset tracking, or IAT, utilizes IoT Technology, tracking assets based on the distance between various IoT beacons and tags placed in fixed or known positions in an indoor area. For example, if a tagged object moves too far from a beacon, an alert is sent to the appropriate personnel.

What is construction asset tracking?

Construction asset tracking is the process of tracking the movement of physical assets within a construction project. This can include equipment, tools, materials, and even people. By tracking the movement of these assets, construction managers can improve efficiency and accuracy within their projects.

There are a number of benefits to construction asset tracking. First, it can help managers ensure that all assets are accounted for. This helps to prevent loss or theft of assets, which can be costly and time-consuming to recover. Second, tracking assets can help managers optimize their use of resources. 

For example, if a piece of equipment is only being used for a small part of the project, it can be redeployed to another part of the project where it is needed more. Finally, tracking assets can help managers reduce waste. For example, if a worker is using too much material on a specific task, the manager can find out and adjust the worker’s allocation.

Construction asset tracking can be done manually or with the help of technology. Manual methods include checklists, spreadsheets, or tracking sheets. Technology-based solutions include dedicated asset-tracking software or barcode scanning. No matter which method is used, it is important to ensure that all relevant information is tracked, including the asset’s location, description, and current status.

Construction asset tracking is an important process that can help managers improve the efficiency and accuracy of their projects. By tracking the movement of physical assets, managers can ensure that all assets are accounted for, optimize their use of resources, and reduce waste.

What is the asset management process in the context of asset tracking?

Asset management is the systematic process of organizing, maintaining, and using an organization’s assets effectively and efficiently. This includes everything from tracking physical assets such as tools and equipment to managing the licenses and contracts for software and other digital assets.

The goal of asset management is to make sure that the organization has the right assets available when they need them, and that those assets are being used in the most effective way possible.

Another aspect of asset management is tracking changes to an organization’s assets over time. This can help identify which assets are most important to the organization, and it can also help identify any areas where the organization may be over or under-invested in certain assets.

Asset tracking is a key part of asset management, and it refers to the process of tracking the movement and location of physical assets within an organization. By tracking the movement of assets, organizations can better understand how they are being used, and they can also identify any areas where assets may be missing or misplaced.

Asset tracking in practice: Stolen equipment recovered in Miami

In recent years, GPS asset tracking has become an increasingly valuable tool for companies and organizations of all sizes. This is especially true when it comes to recovering valuable assets that have been stolen.

In Miami, for example, two suspects were recently arrested after police used a GPS device to track down stolen construction equipment. The equipment, which was valued at more than $40,000, was recovered thanks to the GPS system.

This is just one example of how GPS asset tracking can help businesses and organizations recover lost or stolen property. By using a GPS system to track assets, companies can quickly and easily locate any missing items, whether they are construction equipment, vehicles, or something else.

This is a valuable tool for businesses of all sizes, but it is especially helpful for smaller businesses that may not have the resources to track and recover stolen assets on their own. With a GPS asset tracking system in place, these businesses can rest assured that their assets are protected.

If you’d like to learn more about how GPS Trackit can help to improve safety, increase productivity and reduce costs for your business, speak with one of our knowledgeable Fleet Advisors at 866-320-5810 or get a quick Custom Quote.