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 efficiency.
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
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