With the high price of enterprise and industrial assets, the need for monitoring and
tracking is paramount. Moreover,
to determine the total cost of ownership, equipment managers across all industries are
looking for a centralized
system that provides important information, such as location, engine hours, maintenance
history, and DTC codes.
Equipment managers can lower administrative costs and better accountability and cost
savings. Moreover, with
information on the equipment condition, they can plan for maintenance and future growth,
resulting in overall
GPS tracking has emerged as a common practice to accelerate
productivity gains, reduce operational costs, and streamline compliance and keep
equipment in top shape.
From one study - A one percent drop in equipment productivity
can cause a 2.75 percent drop in total project profits.
It can also help with theft.
The National Crime Information Bureau (NCIB) estimates $1 billion a year in the US
alone is lost due to equipment theft with a recovery rate of less than 20
percent. The cost of stolen equipment goes beyond the pure cost of replacement as one
may need to move equipment from other locations to meet job-site demands.
Theft of equipment is not isolated to a certain geographical location or equipment type.
Equipment is reported stolen from construction sites, dealerships and warehouses,
potential targets for thieves exist nationwide. But National Equipment Registry
(NER) found that instances of heavy equipment theft happen more frequently in cities
with increased road and construction projects and areas where pre-owned equipment is
in high demand.
The most common pieces of equipment stolen are Skid steers - John
Deere, Kubota and Bobcat products as the top three targets.