One challenge facing every contractor is keeping track of tools and equipment. With many jobsites, different types and brands of equipment, and multiple employees utilizing all these tools, it can be hard to keep track of where everything is. It’s important for contactors to have a system of tracking tools and equipment to prevent theft and ensure equipment is properly stored and maintained to increase their longevity.
While many contractors rely on manual tracking systems with physical jobsite visits to check equipment, this leaves room for human error and wastes time. These days there are more efficient equipment tracking solutions.
Problem 1: How do I best use my equipment, taking into consideration jobsite locations, labor force, materials, preventative maintenance schedules, subcontractors, weather, etc.?
Solution: Implement a GPS asset tracking system. This type of system can allow you to monitor your assets and make real-time decisions to move equipment, maximize labor efficiency, and decrease your dependence on rental equipment.
Problem 2: How do I effectively manage preventative maintenance on my equipment without increasing downtime?
Solution: Providing effective preventative maintenance rather than repairing equipment will inherently reduce equipment downtime. Implement an asset tracking system that can communicate to the maintenance teams the preventative maintenance schedules for the equipment and provide diagnostic alerts and equipment health reports. Then, you can budget for new equipment purchases when needed.
Problem 3: How can I understand my equipment operating expenses enough to improve the accuracy of job bidding?
Solution: Expenses such as nonproductive idling and fuel consumption can be monitored with the use of a centralized asset tracking system. An asset tracking system can help you to study the cost of each piece of equipment by providing you with information like engine hours, nonproductive idle time, employee usage, and overtime.
Problem 4: How do I improve security of my equipment?
Solution: A centralized asset tracking system can notify you if a piece of equipment is being moved and send an alert if it’s moved outside a specified area or geofence. This tracking system is a deterrent to thieves and has proven effective in the timely recovery of stolen equipment.