GPS Tracking for Asset Management: Protecting Valuable Equipment and Inventory

Imagine a fleet owner named John. His fleets transport consignments of car parts daily from the factory to the city service stations. One day, he discovers that a crate full of brand-new brakes from the factory has gone missing from one of his vehicles. Normally, in such cases, the only recourse is to file a police report and wait for the authorities to locate the missing items. Fleet owners often come across such situations and suffer losses. However, with preparedness and a GPS tracker, they could avoid these problems. 

GPS devices can pinpoint the locations where the vehicle traveled or stopped. It can help narrow down the search area and aid in locating the lost goods more swiftly than anticipated. GPS tracking for motor assets has changed asset security with real-time location tracking. It has also enhanced the overall efficiency of the trade.

If you own a fleet or are thinking about making this your job, you need to be ready for unplanned events that could slow down your business or put the safety of your fleet at risk. Such risks include theft, damage during transit, breakdowns, and more. In any of these events, the fleet owner often undergoes significant stress to resolve the issues.

Understanding GPS Tracking for Asset Management

GPS Tracking is the process in which a GPS device is used to locate the position of a vehicle in real time. GPS network consists of three primary hardware that are a transmitter cum receiver, towers, and a network of satellites. Utilizing this line of tech, fleet owners can keep a tab on real-time geo-positioning of the vehicles in their fleet.

In the 1950s, the US Air Force began using satellites to locate and track objects on Earth. The GPS started with a constellation of 4 satellites and now includes 31 satellites. These tracking devices employ two techniques, triangulation, and trilateration, to pinpoint a device’s location. The satellites continuously emit signals indicating their positions. A machine with a built-in GPS detector receives signals from four different satellites. Analysts then study these signals to determine the tracker’s exact location. The user can view the tracker’s location on his device using latitudes and longitudes. The fleet owner no longer needs to call the driver to determine his location or estimated delivery time.

Using GPS trackers has many benefits financially as well as towards the security of the assets. Location tracking feature provides insight into the journey made by the vehicle as it can be used to track speeding, idling, and rash driving behaviors. It also helps in planning the optimal route for the trip which reduces the cost of fuel and the time wasted on the road. These trackers are a vital tool for asset management for fleet owners as they ensure better utilization and care on the side of operators reducing the risks of theft or misplacement of valuable assets.

Ensuring Equipment and Inventory Security

Nearly every fleet owner at some point has had to face problems with the vehicles in his fleet. These problems can range from theft to unauthorized access and non-compliance with regulations. Theft of assets or theft of fuel/ fuel fraud is something that most owners might have come across. Unauthorized access can be troublesome as a third party has complete access to the company’s assets. Owners also sometimes face troubles because of driver behavior and non-compliance with federal regulations. Being a fleet owner is a tough job and requires complete dedication.

These difficult situations can be overcome with the help of GPS devices, as the most basic use of these devices is location tracking. This feature alone is capable of preventing theft and unauthorized access. It also helps in the recovery of lost goods or assets. 

Some features of GPS trackers that make them a reliable device

1. Remote Shutdown: Owners can use this feature to shut down and lock any vehicle in their fleet in case of theft or unauthorized access. 
2. History Tracking: All GPS devices record previous trips, roads, and stops for future reference. This data can offer insights into the driver’s behavior and assist in investigating incidents. 
3. Geofencing: Owners can set virtual boundaries around specific areas using this feature. The device will notify the owner if it enters these designated zones. 
4. Integration with Alarm Systems: Owners can connect GPS devices to the asset’s inbuilt alarm systems. If someone triggers the alarm, the GPS device immediately alerts the owner.

Recently, developers have started using GPS tracking devices in the StarChase vehicle tracking system. In this system, operators use a compressed air launcher to shoot a sticky device onto cars they are pursuing. This device houses a GPS tracker that continuously sends the vehicle’s location to the authorities. Although not many agencies use this system yet, tests have shown promising vehicle recovery results.

Best Practices for Implementing GPS Tracking for Asset Management

When you choose a GPS for your vehicle, you should consider some key factors. These include accuracy and reliability, how easily it integrates with your current fleet management system, and its scalability for future additions.

Managers must plan carefully before integrating a GPS service with a fleet. They should pinpoint the assets that need tracking, set tracking parameters, and create a standard monitoring protocol. Moreover, they should educate the operators/drivers on how to use and maintain these devices effectively.

It’s crucial to train the operators about GPS functions when you introduce the GPS into the fleet. The owner must train and instruct drivers on the GPS devices’ operation, maintenance, and correct use. They can organize training sessions to emphasize the GPS device’s benefits and address operational concerns. Maintaining open communication between drivers and operators will optimize results and help everyone adapt to changes.

Overcoming Challenges and Objections

Fleet owners, managers, and operators may express objections or concerns about the GPS device. They often base these concerns on privacy issues or doubts about the software’s efficiency, if they have never used such devices or software before.

To answer these queries, owners can show numbers and figures that invalidate these concerns. When owners teach their drivers about the device, they can show them cases and numbers from other fleets that have seen benefits and big changes in the safety of their assets and the efficiency of their fleet. To ease worries about privacy, they can tell workers about the privacy features of the device, like how it encrypts data and controls who can access it.

In running a business, a key requirement is adaptability. It is necessary to keep up with the changes in the industry. Establishing a proper communication channel is essential to creating an adaptable business model. As an owner, it is necessary to understand and look after the concerns arising in the operators’ minds and help resolve them. It will help build better bonds in the company and boost the progress of the business.

Why Choose Matrack GPS Tracking?

At Matrack, we offer top-of-the-line technology with a scope for growth in the coming years. Our GPS services include real-time location tracking and customizable fleet adjustments to meet your needs. Our GPS services also include Geofencing, Historical Data, Reports, etc. You can access all the services from our user-friendly app and monitor and control your fleets on the go, making it easy to stay connected even if you are not in your office.

We offer customizable solutions to cater to your needs. Whether you have a small fleet or large-scale operations, our services meet all your needs. This flexibility ensures you get the best out of your investment. We also offer user-friendly customer service to assist with any questions or technical issues you face.

Conclusion

In conclusion, having a GPS tracking device for your fleet can keep you stress-free and keep your assets secured. With this tech, fleet owners, managers, and drivers can enhance operations and guarantee optimal efficiency. The real-time location provides users security and options for proactive decision-making, minimizing risks.

Integrating GPS with AI might bring up a hybrid program with improved efficiency and more security features. Embracing GPS tracking will be a step towards optimizing asset management, reducing losses, and maximizing efficiency in today’s market. 

FAQs

1. How does GPS tracking help protect assets and inventory in fleet management?

GPS tracking allows real-time monitoring of assets, enabling fleet owners to track their location and ensure their security. It provides alerts for unauthorized movement and geofencing capabilities and helps quick recovery in case of theft or loss.

2. Can GPS tracking systems help prevent equipment theft and unauthorized usage?

Yes, GPS tracking systems effectively deter equipment theft and unauthorized usage. They provide accurate location information, enabling fleet owners to take immediate action in case of any suspicious activities.

3. What are the key benefits of implementing GPS tracking in asset management?

Implementing GPS tracking in asset management offers several benefits, including improved asset security, reduced theft, and loss, enhanced operational efficiency, optimized routing, better maintenance scheduling, and increased overall fleet productivity.

4. How can fleet owners integrate GPS tracking systems into their existing operations?

Integrating GPS tracking systems into fleet operations involves selecting a suitable provider, installing the necessary hardware, and integrating the tracking data with fleet management software. Training employees on using the system effectively is also crucial for successful integration.