Why Asset Management is Important For All Construction Sites

Why Asset Management is Important For All Construction Sites

As construction companies have multiple assets on numerous sites, it’s essential that they are all tracked. itemit’s Construction Equipment Tracking software is here to make life much easier. Thanks to the way that it works, the software ensures that all assets can be tracked at all times. 

The worry about an asset’s location can be minimised, and managers can concentrate on other aspects of their work. 

Let’s take a more detailed look at why asset management is important for all construction sites.

The Best Asset Tracking Implementations And Use Cases

Assets Can be Tracked in Real Time

Thanks to the way that Construction Equipment Tracking works, assets can be tracked in real time. This feature can prove to be somewhat invaluable as it allows managers to see where every asset is all day, every day. Thanks to the way RFID and QR technology works, productivity can be increased, and the overall efficiency of each task is also increased. 

Regardless of the types of assets used on a construction site, they can all be tracked. The likes of tools, equipment, and vehicles can all be monitored and located whenever and wherever workers are, thanks to itemit being cloud-based. As long as RFID or QR tags are attached, tracking is always possible.

Managers can also determine whether they have the correct number of assets. itemit will show where all current assets are, which means it’s possible to see where more are required. For example, there may be four construction sites that each need two diggers. However, if two of those sites only have one digger each, managers can clearly see that more may need to be purchased. 

There’s a Lowered Risk of Theft

It’s estimated that almost £800 million was lost by the construction industry in 2017 due to theft and vandalism. The good news is that there’s a real potential for incidents of theft and vandalism to be significantly reduced. Thanks to the way that itemit’s equipment tracking works, all tools, equipment, and vehicles can be monitored. 

Users of the Construction Equipment Tracking will know where every asset is throughout the day and night thanks to itemit’s location features. Whilst those who are using the tools can also be monitored using the assignee feature, this also has the added benefit of increasing responsibility as users will be aware that their equipment is being tracked. This in itself can help to prevent theft and vandalism. As a result of this, construction companies may not need to spend as much money replacing lost or damaged equipment. This ensures that much-needed funds can be allocated elsewhere.

Historical Data is Created

The life cycle of every asset is created, meaning historical data builds up. Once itemit’s Construction Equipment Tracking has been used for a few weeks, users can look back at the data. The historical data will show who used the asset, when the asset was used, when it was checked out and returned, and whether there’s an issue with it. 

Users of the tracking software can also understand how long the asset’s life is likely to be. Frequent use could indicate that the asset’s life may not be as long as it could perhaps be. Therefore, purchasing additional assets could ensure there are multiple assets with a good lifespan. 

Historical data can also show how often a specific site used certain tools, for example. Understanding the frequency of use can help managers to determine whether they have the correct number of tools. Should something go wrong with an asset, managers can see where it was last used and who the last person to use it was. Not only this users can also report issues with their tools using the issues feature, which will notify those who will need to carry out or arrange the repairs. This can help to determine the cause of the problem and ensure the asset undergoes effective maintenance.

Profitable Assets are Identified

itemit’s tracking software allows users to identify profitable assets. It will be clear to see which assets are performing well and which are not. For example, it may be possible for managers to see what machinery is working well and what machinery is in constant need of repair. 

When managers have this knowledge, the less-than-perfect machinery can be replaced or sold. The machinery that works well can be used accordingly as and when it’s required and managers can consider purchasing more. 

With this knowledge, managers have a much better idea of how well the business is running. They can make more informed decisions about their tools, machinery, and vehicles. As a result, the equipment on a construction site can help jobs to be completed in a more timely manner.

Use itemit’s Construction Equipment Tracking Software

itemit’s Construction Equipment Tracking software can help you with all of your tracking needs. Our software is easy to use and it can help your construction company in many different ways. We’re proud of our equipment tracking software and we think you will understand why. Please contact our expert team today at team@itemit.com for more information about our equipment tracking software. Alternatively, you can opt for our 14-day free trial to see just how well our Construction Equipment Tracking works for you.

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