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Part 4: Reduce Theft and Monitor Asset Usage with GPS Asset Tracking

By Jessica Stoddard Back to Home on May 23, 2016
Ultimate Guide

Your drivers work hard, and so does your heavy equipment. Many fleets rely on heavy equipment and other assets to deliver exemplary service to their customers, but if your assets break down or get stolen, repairing or replacing your equipment can be both costly and time consuming.

Tracking fleet vehicles can reduce your operating costs and help you deliver better service, but the advantages of GPS tracking aren't limited to monitoring your vehicles. In Part 4 of the Ultimate Guide to GPS Tracking for Business, we look at how you can secure your assets and heavy equipment, monitor their usage, and improve productivity using specially designed GPS asset tracking devices.

Monitor your most valuable assets

GPS devices can track and monitor a variety of valuable assets and heavy equipment, such as:

Construction Equipment
  • Powered and nonpowered assets
  • Heavy equipment like generators, earthmoving equipment, and cranes
  • Truck trailers
  • Rental equipment
  • Power packs and power units
  • Tanks and containers
  • Cargo units, and more

When you track your assets with a GPS device, you can quickly locate each asset's last known location, review location history, and even monitor usage using alerts for movement, power, or equipment use. With these features, you can reduce theft and further improve your employees' productivity.

Reducing theft with GPS tracking

Just like your fleet vehicles, valuable assets and heavy equipment are susceptible to theft. In the construction industry alone, asset and equipment theft results in a loss of nearly $1 billion a year nationwide due to downtime and the cost of replacing the lost equipment.

GPS tracking devices can help you secure your assets and reduce the incidence of theft thanks to features like:

  • Alerts for suspicious behavior, such as after-hours use, if equipment is on the move, or if the tracker stops reporting.
  • Location updates every 10 minutes when the device is on and once daily updates when the device is off.
  • Geofences, or virtual fences, around certain geographic areas, as well as real-time alerts when your assets enter or exit these areas.
  • Geofencing

Tracking asset usage and improving productivity

GPS tracking devices also monitor machine hours so you can quickly determine which assets are working the hardest. This helps you maintain and improve your productivity by reducing downtime in the event of an unexpected breakdown. Here's an example:

One of your compressors is using more oil and discharging hotter air than your other compressors. When you send the compressor in for maintenance, you learn it needs a new air filter, even though your compressors aren't due for air filter replacements for several more weeks. Using your GPS asset tracking software, you discover that this compressor is used more often than any other. To prevent future overuse, you create a rotation sequence for your compressors so no single compressor is used more than any other.

Managers can also use their asset tracking devices to manage and automate equipment maintenance schedules. With alerts when maintenance is due, such as when a certain number of work hours is reached or a certain amount of time has passed, you can increase your productivity and prevent wasting time while you wait for unnecessary, preventable repairs to be completed.

Managing your fleet with GPS tracking

Tracking vehicles and assets using GPS tracking devices gives fleet and business managers the tools and information they need to streamline their fleet management. Learn more in Part 5 of the Ultimate Guide to GPS Tracking for Business.

Read More

Part 1: Which Businesses Can Benefit from GPS Tracking
Part 2: How GPS Tracking Reduces Costs and Increases Revenue
Part 3: 3 More Ways GPS Tracking Benefits Your Business
Part 4: Reduce Theft and Monitor Asset Usage with GPS Asset Tracking
Part 5: 3 Ways GPS Tracking Simplifies Fleet Management
Part 6: 8 Powerful Features that Only Come with a GPS Tracking Device
Part 7: How does GPS Tracking Work?