Friday 21st January 2022

Start with a business problem to build an asset-tracking strategy

Published on January 29th, 2019

Annie Turner explores why companies need asset tracking (beyond the immediately obvious), where to start and how to plan to get to where you need to go.

You can’t make use of assets if you don’t know where they are. You can’t make proper use of assets if you know where they are but not the state they are in or their proximity to other assets with which they need to be deployed — and the state those other assets are in.

You can’t make effective use of assets without being able to predict accurately how many will be off the road or rail, or out of the warehouse or off the dock or airport apron when and for how long — whether the reason is for maintenance, modification or repair, to comply with regulation, because they’ve been stolen or reached the end of their life.

You can’t make full use of assets without putting all that experience, practice and knowledge by combining it with data from and about your assets, so that the tracking and management system can constantly learn and recommend how to make the most efficient and sensible use of each and all your assets in combination.

A logical trajectory

This is a logical trajectory and progressing through these stages is clearly the way to run and grow a profitable, efficient transport and logistics business. Yet often companies opt for asset tracking primarily to fix the first issue – knowing where their assets are — with little if any thought about how they could get the much greater benefits of the subsequent phases, and potentially at incremental cost.

Click to read the full article in Transport 360.