Equipment downtime can quickly become a major cost for businesses with equipment, trailers, construction equipment, agricultural assets, or other valuable assets.
Unexpected equipment failure can delay projects, reduce productivity, and increase repair costs. One way to mitigate these risks is preventive maintenance, which involves identifying maintenance issues before they become catastrophic failures.
This method can be even more efficient with GPS asset tracking. GPS tracking systems can help managers determine asset location and movement, as well as utilization, to understand equipment use and when maintenance may be needed. With modern tracking platforms, businesses can also shift from a reactive repair mentality to a more structured, proactive maintenance approach by incorporating maintenance planning.
What is GPS Asset Tracking?
GPS asset tracking is a system in which assets are equipped with tracking devices that collect information using GPS technology. The data is sent to a central software system where companies can track their assets and view where they are going and how they are being used.
GPS tracking offers a more up-to-date view of equipment location and use than traditional asset records which can rely on manual updates. It can be especially beneficial for companies with equipment at various sites or job locations.
For instance, a construction company may use an excavator, generators, trailers, and other machinery across multiple locations. If everyone knows where the assets are, it can simplify equipment management and also aid managers in planning maintenance activities. Depending on the equipment and tracking device, GPS tracking solutions can be used for powered or non-powered assets.
How GPS Tracking Supports Preventive Maintenance
Preventive maintenance requires a plan. Rather than waiting for equipment to break down, businesses inspect, service, and repair it regularly. GPS asset tracking supports this process by providing valuable information on equipment utilization.
If managers know how often an asset is moved or used, they can make better decisions about maintenance schedules. An asset in constant use may need service sooner than one that runs only occasionally.
Decreasing Unplanned Equipment Downtime
GPS tracking makes it easier for businesses to track equipment and schedule maintenance more efficiently. Managers can then use asset location and utilization data, along with maintenance schedules, to determine which assets need maintenance and where they are.
This can help reduce the guesswork for maintenance planning. Businesses are able to plan maintenance activities into their operations instead of discovering their need for maintenance services when it’s needed.
Improving Equipment Utilization
GPS asset tracking can reveal to the business how the equipment is being used and can help managers find assets that are constantly being used, underused, or idle. For instance, Radius says its asset tracking software offers details on the location and use of assets, both now and in the past, to help businesses optimize their equipment usage.
This information may impact the maintenance decision. Heavily used equipment might require more frequent inspections while less-used equipment could require a different approach to maintenance. This allows businesses to adopt a maintenance strategy that’s more aligned to actual usage, rather than just generic maintenance schedules.
Helping Maintenance Teams Locate Equipment
A large business could have machinery in a variety of locations, such as a warehouse, a farm, a construction site, a customer’s location, or in a remote location. It can be time-consuming to do a manual search for a specific machine. The GPS-based asset tracker can give location visibility to the equipment, helping managers and maintenance teams know where the equipment is located.
This can assist teams to plan service visits more efficiently and minimize unnecessary travel between sites. According to Radius, its asset tracking software enables them to see the location of their assets and track both current and past locations.
Supporting Maintenance Records and Scheduling
If the data for location or utilization is available, it can be used in conjunction with current maintenance data. For instance, if a manager knows that, say, an oil pump is being used more than the rest since the last inspection, then this equipment can be deemed a priority.
Trackers can also set up alerts and reports to keep managers informed. According to its Kinesis software, Radius offers asset information that can help with operational efficiency, asset utilization, and preventive maintenance.
Reducing Long Term Maintenance Costs
Preventive maintenance for businesses can save them from incurring bigger expenses in the case of major equipment failures. GPS tracking is a key factor in enhancing visibility, making better decisions about equipment usage and maintenance.
An example of this is a business may want to re-evaluate whether they should keep a piece of equipment in their inventory if the tracking data indicates that it is not being utilized enough. Likewise, if the specific machine is used a lot, managers can ensure that it is appropriately maintained.
A More Proactive Approach to Equipment Management
GPS asset tracking brings the greatest benefit in moving from reactive to proactive management. Rather than reacting to equipment failure and loss, businesses can proactively manage their operations with data.
In the case of companies with valuable assets at various sites, GPS asset tracking can thus form a crucial component of a bigger preventive maintenance plan. It does not replace the requirement for inspections or professional servicing, but it provides managers with information to help them make decisions on what should be done and when.
Conclusion
GPS tracking can be used to leverage asset information for meaningful maintenance insights, such as assisting maintenance staff in finding equipment, scheduling more effectively, and minimizing unexpected downtime. As tracking technology evolves and develops more sensors and IoT features, companies will be able to monitor the condition and use of equipment even more.
GPS tracking can be a viable solution for organizations seeking to optimize the use of their valuable assets, minimize disruptions, and achieve more predictable operating costs.
