Why Equipment Location Tracking Is Crucial To Your Business

When you want to have more control over your equipment you need to track it. Many businesses can find that tracking their equipment/assets is very useful. In fact, it’s a very useful tool. Tracking your assets this way can help you to understand what you own and how it is used. Additionally, using equipment location tracking software can help to ensure that your business runs smoothly.

So what exactly can you track? Are there rules surrounding what you can track or can you choose which assets to have more control over? The reality is that you can track anything and everything. Thanks to the way that equipment location tracking works you can track:

• Office equipment
• Construction tools
• Sports centre equipment 
• Hospital and GP centre assets
• Library books
• Church assets
• Gardening tools and machinery
• Factory machinery 
• Cars, trucks, vans, and everything in between 
• Community centre assets
• School equipment 
• Tools and machinery for hire  
• And so much more

You can, in fact, track anything you want. Regardless of the type or size of business you run, it’s highly likely that you will benefit from keeping a close eye on your assets. Tracking everything can make your life so much easier. This is especially the case when you can locate your assets in moments.

Locating your assets within moments is a reality when you use modern equipment location tracking software. All that you need to do to achieve this is to place an RFID tag or barcode on your assets. Once the tag is in place it can be scanned. Scanning the tag will open up a profile that can be populated with as much information as you wish to add. 

Immediately after you have scanned the tag you will be able to track the asset it’s linked to. You can see where it is day and night. It’s even possible to track your assets if they’re in different countries. If this is not enough, you can track your assets in space. You read that right. 

No matter where you are or where your assets are, they can be located in moments. When this happens it ensures that your team becomes much more efficient.

Accountability is hugely important. If there is a way to improve accountability then your business needs to embrace it. When you know who used what tool and when, your team will become more accountable. When they know that you track everything they will automatically take better care of everything. What this means is that you could find you end up paying less to replace lost equipment. Consequently, you could have a lot more money to hire more team members or improve workplace conditions. 

Another way of improving accountability relates to the paperwork that you do, specifically your accounts. When you can see what’s coming in and going out thanks to your new equipment location tracking software your accounts will be more accurate. You can see how much stock you have, whether you’ve paid a supplier on time, and so on. This information is crucial as it can realistically help you to square your books nicely.

What is a ghost asset? It’s an asset that does not work or has been lost but is still listed in your inventory. Let’s imagine that you have a conveyor belt that’s broken down. It’s sitting in the corner of your factory floor doing nothing as it’s still waiting to be repaired. Your conveyor belt is considered to be a ghost asset. When you look at the value of your inventory that ghost asset will still be there. However, as it’s broken it’s not offering your business anything. Therefore, it almost does not exist. 

When you repair your ghost assets or you find something that has been lost your business’ value is more accurate. You can see how much your business is really worth and whether it’s moving in the right direction.

When you make the most of equipment location tracking software you can keep your assets in better condition. This is simply because the software can remind you to maintain your assets. Setting reminders allows your maintenance team to keep everything in good condition. As long as your maintenance team has access to the tracking software and is notified when a reminder pings, you’re good to go. 

Staying on top of maintenance ensures that machinery, tools, vehicles, equipment, computers, and everything in between is in good condition. The more you look after your assets the longer they could last. This is just one of the reasons why location tracking is crucial to your business. 

Would you like to speak with an expert about using equipment location tracking for your business? Contact us today at team@itemit.com.