Asset tracking can be a valuable tool for many businesses, including industries such as manufacturing and logistics. Asset tracking first originated in the form of paper-based systems and barcode labels that were manually scanned. As technology continues to rapidly evolve, asset tracking technology has made it possible for users to rely on automated and real-time systems.
This evolution of asset tracking now includes outdoor GPS asset tracking solutions, which allow companies to track and monitor assets outdoors and on the road. GPS leverages satellite networks to identify asset location with greater accuracy. Let’s take a look at some of the key benefits and use cases of outdoor GPS systems.
Benefits of GPS Asset Tracking Systems
GPS asset tracking can provide many benefits for your company. These benefits include:
- Accuracy - GPS can accurately track your assets within 10 to 50 feet.
- Real-Time Monitoring - GPS asset tracking software allows you to view where assets are currently located and where they have been through historical mapping. This ability helps companies apply LEAN and Six Sigma techniques for performance optimization.
- Flexibility - Provides companies the ability to track assets both indoors and outdoors.
- Timely Alerts - GPS asset tracking systems can notify companies when delays occur so they can communicate with receivers for peace of mind.
These are only a few of the benefits that GPS asset tracking systems can provide. It is also important to look at some of the use cases where this technology can assist with and prove its value.
Equipment and Tool Tracking
When we hear “assets”, some of us tend to think of money. That can be true in a way since high-value assets can be very expensive. With asset tracking, those high-value assets can be people, tools, or equipment. Outdoor GPS asset tracking can be used for tracking these assets whenever they are moved. Employees no longer have to find a way to work around this or waste time looking for assets, especially if they are not even in the building! Asset tracking technologies have made it possible for high-value tools and equipment to be found in real-time.
Outdoor GPS asset tracking also provides value when wanting to maintain visibility of equipment rentals. Businesses lending out equipment need to ensure items don’t become lost or stolen. In turn, an asset tracking system helps to avoid money spent on replacements. Other benefits of equipment rental tracking are maintenance monitoring and assisting with availability.
To learn more about equipment rental asset tracking check out this page.
A common use case for asset tracking in companies today is loss prevention. As mentioned above, this is one of the ways asset tracking can eliminate wasted time searching for missing assets. Assets can either be misplaced, hoarded, lost, or even stolen. An outdoor GPS asset tracking system can prevent that from happening as it helps locate missing assets.
The value of loss prevention is not limited to any specific industry, if anything, all companies from different sectors could find value in it. It is possible that someone could steal or misplace an asset that is not tagged. But if it was tagged, it would deter a person from taking your valuable equipment. Although, if your item was stolen, then a tracking device would help locate it quickly.
Read more about equipment loss prevention here.
A challenge that many companies face every year is meeting regulatory compliance. According to a study by the National Association of Manufacturers (NAM), the average company in the United States pays approximately $9,991 per employee per year to be compliant with federal regulations. The numbers go even higher when the company is in the manufacturing industry or if it is a small business.
A company’s success can be impacted greatly by compliance regulations. The ability to meet regulations can be difficult as many new laws are passed annually. Asset tracking can make things easier for companies as it automates manual work, which in turn reduces errors. Asset tracking systems have the ability to record the movement and conditions of what you’re tracking. Businesses in food production are a good example of companies that can take advantage of a GPS asset tracking system since they constantly have to monitor temperature to avoid food spoilage. Certain asset tags have built-in sensors to detect critical data such as temperature, which can help simplify regulatory compliance. By maintaining compliance, companies can show their customers and investors that having a solid company image is a priority and asset tracking solutions make it possible.
AirFinder Everywhere for Outdoor Asset Tracking
A system like AirFinder Everywhere leverages four different connectivity technologies, including GPS, for seamless indoor to outdoor asset tracking. The game-changing platform provides companies the ability to track high-value assets for loss prevention, regulatory compliance, and process efficiencies – just to name a few. If you are interested in learning more about how AirFinder Everywhere can benefit your company, book a demo to get started.