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Asset Monitoring with GPS Trackers: Features and Benefits

Asset Monitoring with GPS Trackers: Features and Benefits

Andrew McMennamy

Imagine being able to keep an eye on all your valuable assets from anywhere in the world, just with a few clicks on your phone. Sounds amazing, right? This is exactly what asset monitoring with GPS trackers can do for you.

Asset monitoring means keeping track of important things like vehicles, equipment, or even packages to make sure they are safe and being used properly. One of the best tools for this job is a GPS tracker.

In this article, we will talk about the features of GPS trackers like “Tracki” and why they are great for keeping your assets safe and secure. Whether you’re a small business owner, a logistics manager, or just curious about technology, you’ll find this information helpful and easy to understand.

Key Takeaways

  • Enhanced Security: Prevent theft and recover stolen assets quickly.
  • Efficient Management: Manage assets effectively with real-time updates and historical data.
  • Cost Savings: Reduce financial losses and lower insurance premiums.
  • Increased Productivity: Improve planning and utilization of assets.
  • Peace of Mind: Ensure assets are monitored and protected.
  • Industry Applications: Beneficial for healthcare, education, AV & media, and construction for better resource management.

What is Asset Monitoring?

Asset monitoring is a way to keep track of important things you own. This can include vehicles, equipment, or other valuable items. By monitoring your assets, you can always know where they are and how they are being used.

For example:

  • Vehicles: You can monitor cars, trucks, or delivery vans to see their location and ensure they are on the right route.
  • Equipment: Construction companies can keep an eye on expensive machines to make sure they are safe and being used correctly.
  • Valuable Items: Businesses can track shipments of valuable goods to make sure they reach their destination safely.

How Do GPS Trackers Work?

GPS trackers use a technology called GPS, which stands for Global Positioning System. GPS is a network of satellites orbiting the Earth. These satellites send signals to GPS devices, which use these signals to figure out their exact location.

Here’s how it works in simple steps:

  • Receiving Signals: The GPS tracker receives signals from at least four satellites. By calculating the time, it takes for each signal to reach the tracker, it can figure out its exact position on Earth.
  • Sending Data: The GPS tracker then sends this location information to a central system. It uses mobile networks or the internet to transmit this data.
  • Accessing Data: You can access this location data on your smartphone, computer, or tablet. There are special apps and websites where you can see the real-time location of your assets.

How do GPS Trackers Help Asset Theft?

Did you know that construction equipment theft costs businesses between $300 million to $1 billion every year? According to Construction Business Owners, losing expensive equipment not only costs a lot of money but also causes business downtime.

This shows how important it is to protect valuable assets. GPS asset trackers can help with this. They provide real-time information about where your assets are. You can get alerts if an asset leaves or enters a certain area. If something is stolen, GPS trackers can help you find it quickly, saving you time and money.

Features of GPS Trackers for Asset Monitoring

GPS trackers like Tracki GPS Tracker come with many useful features that help you keep track of your valuable assets. Here are some of the key features:

Tracki GPS Tracker for Asset Tracking

Real-time Tracking: GPS trackers provide real-time updates on the exact location of your assets. This means you can see where your vehicle, equipment, or item is at any moment. This helps in making quick decisions and ensures your assets are where they should be.

Geofencing: Geofencing lets you set up virtual boundaries around a specific area. For example, you can create a geofence around your warehouse or job site. If an asset moves outside this area, you get an instant alert. This feature is great for preventing theft and unauthorized use.

Historical Data: GPS trackers store historical data, allowing you to review past movements and patterns of your assets. You can see where your assets have been, which routes they took, and how long they stayed at each location. This helps in planning and improving efficiency.

Alerts and Notifications: GPS trackers can send different types of alerts to your phone or computer. These alerts can be for unauthorized movement, tampering, or when an asset enters or leaves a geofenced area. This keeps you informed and allows you to respond quickly to any issues.

Battery Life and Power Options: There are GPS trackers that run on batteries and others that can be wired into a vehicle’s power system. Battery-powered trackers are great for items that move around a lot, while wired trackers are perfect for vehicles and equipment that stay in use for long periods.

Durability and Weather Resistance: GPS trackers are built to be tough. They are often designed to withstand harsh weather conditions, like rain, snow, and extreme heat. This makes them reliable for outdoor use and in rough environments like construction sites.

Integration with Software: Many GPS trackers can be integrated with asset management software. This means you can manage and monitor all your assets from one place. Integration makes it easier to keep track of everything, improves efficiency, and helps in making better decisions.

Benefits of Using GPS Trackers for Asset Monitoring

The market for GPS asset tracking is expected to reach $3.38 billion by 2025, growing at a rate of 11.58% each year. This market is very competitive, which means companies are always looking for better and more advanced tracking techniques. With increased demand for asset management and real-time data, GPS asset tracking is widely adopted. 

Modern GPS trackers offer features like better accuracy and offline tracking. Here’s how GPS asset tracking helps organizations manage their assets better:

Improved Security: GPS trackers help prevent theft and make it easier to recover stolen items. If someone tries to steal your asset, you can quickly locate it using the GPS tracker. This means you can get your valuable items back faster and reduce the chances of permanent loss.

Better Asset Management: With GPS trackers, you can efficiently manage your assets by always knowing their exact location. This is especially useful for businesses with many vehicles or pieces of equipment. You can see where everything is in real time, making it easier to manage and coordinate.

Cost Savings: Preventing theft and reducing losses can lead to significant cost savings. When you know where your assets are and can recover stolen items quickly, you save money that would otherwise be spent on replacements. Additionally, some insurance companies offer lower premiums for assets equipped with GPS trackers.

Enhanced Productivity: Knowing the location of your assets can lead to better utilization and planning. For example, if you manage a fleet of vehicles, you can plan routes more efficiently, reducing travel time and fuel costs. This means your assets are used more effectively, boosting overall productivity.

Peace of Mind: Perhaps one of the most important benefits is the peace of mind that comes from knowing your valuable assets are being monitored and protected. Whether you’re a small business owner, a logistics manager, or just someone who wants to keep their items safe, GPS trackers assure that your assets are secure.

Use Cases for GPS Asset Tracking

GPS tracking is a great way to keep track of your assets. It helps keep them safe and makes managing them easier every day. Here are some major industries that use GPS asset tracking to see where their assets are:

Industry

Use Cases

Healthcare

Track the live location of medical equipment like ventilators, wheelchairs, infusion pumps, and MRI machines. Know which branches of a hospital are using the available resources. Track highly expensive medicines, like COVID-19 vaccines, to ensure they reach their destination safely.

Education

School administrators can track school buses to see what routes they take and improve pick-up and drop-off schedules.

AV & Media

Track assets used in entertainment events to make sure they are returned on time. Optimize resource allocation, manage assets efficiently for different projects, and get extra resources in advance.

Construction

Get live location data on Google Maps for expensive machinery and equipment that frequently move across job sites.

Real-World Case Study

A study explored how a real-time asset tracking (RTAT) system can help construction companies with financial efficiency, preventing losses, and better time management. Participants reported that RTAT improves resource management and prevents loss, theft, and misuse of assets. Employees can track materials and equipment, keeping themselves accountable and discouraging theft and fraud.

Conclusion

GPS asset tracking is essential for various industries, enhancing security, efficiency, and overall asset management. GPS trackers like "Tracki" provide real-time updates, set geofences, and send alerts to ensure assets are used correctly and safely. This technology prevents theft, aids in the quick recovery of stolen items, and leads to cost savings and improved productivity.

Industries such as healthcare, education, AV & media, and construction benefit greatly from GPS tracking by optimizing resource use and ensuring timely recovery of valuable items. Real-time asset tracking systems also hold employees accountable, reducing theft and fraud.

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Andrew McMennamy
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