The Benefits of Asset Tracking for Your Mixed Fleet  - Geoforce

The Benefits of Asset Tracking for Your Mixed Fleet 

Learn how you can use rugged GPS asset tracking to improve your fleet management.

Tracking technology is crucial in advanced fleet management because it provides location data for all your valuable assets. Going beyond tracking just your vehicles or heavy equipment provides a wealth of information across your operations, especially when you can pair assets together, like trailers to trucks or slings to offshore grocery containers. Knowing this information allows you to maximize asset utilization, more accurately estimate job costs, and perform preventative maintenance on anything from your excavator to chemical totes and more from a single pane of glass. All of this together leads to a tremendous impact on your company’s efficiency, operations, and bottom line.  

Asset tracking can lead to many questions, like how does it help with advanced fleets specifically? Does it work for all equipment brands? What kind of tracking tools are out there? How do they work, and which is best for your business? That is what we’ll uncover below.

Why track your Mixed fleet assets?  

Asset tracking for an advanced fleet refers to monitoring and managing various types of assets (or brands) belonging to different categories or classes such as non-powered equipment, powered equipment, and other valuable items. Whether you’re a contractor that needs to manage construction equipment and attachments and reduce missing assets or if you’re operating a mining operation and need to keep materials and drivers safe while increasing asset productivity, a reliable tracker can make that happen. Effective asset tracking also allows businesses to optimize operations, improve efficiency, and reduce costs.  

Types of tracking solutions 

GPS Tracking Systems: GPS (Global Positioning System) tracking technology is widely used for asset tracking. It enables regular location monitoring, allowing businesses to track their assets’ movement and current position on a map. GPS trackers can be installed on attachments, generators, heavy machinery, containers, trailers, and more. These trackers communicate with a central software system to provide accurate location data. 

Telematics Solutions: Telematics combines telecommunications and informatics to collect and transmit data from assets. Telematics solutions use GPS technology and other sensors to gather information about asset performance, maintenance needs, fuel consumption, and driver behavior. This data helps optimize asset utilization, streamline maintenance schedules, and improve fleet efficiency. 

RFID Technology:Radio Frequency Identification (RFID) technology uses radio waves to identify and track assets. RFID tags or labels are attached to assets, and RFID readers or scanners are used to capture the information stored in the tags. RFID can be beneficial for tracking assets in a warehouse or yard, as it allows for automated scanning and inventory management. 

Mobile Apps: Mobile applications can be used to track assets and provide real-time updates on their status. Fleet managers or drivers can use these apps on their smartphones or tablets to record asset information, scan barcodes or QR codes, and update asset locations. Mobile apps can integrate with backend systems, allowing seamless data synchronization and reporting. 

Cloud-Based Asset Management Systems: Cloud-based asset management platforms provide a centralized hub for managing and tracking assets in a mixed fleet. These systems store asset data, track maintenance schedules, generate reports, and offer analytics to gain insights into asset utilization, fuel efficiency, and other performance metrics. They enable easy collaboration and access to asset information from any location. 

Integration with Existing Systems: If you already have a fleet management or enterprise resource planning (ERP) system, ensuring your asset-tracking solution integrates smoothly with your existing infrastructure is essential. Integration allows for seamless data flow between systems, providing a comprehensive view of your mixed fleet operations. 

Benefits of asset tracking 

Timely asset tracking: GPS tracking systems monitor the exact location of any asset anywhere in the world.  

Why it matters: This provides visibility into the fleet’s operations, enabling managers to optimize assets, allocate resources efficiently, and respond quickly to changes or emergencies. 

Theft prevention and asset security: Tracking systems help prevent theft and enhance asset security. In case of unauthorized usage or theft, fleet managers can quickly identify the stolen asset’s location and coordinate with law enforcement for recovery.  

Why it matters: Tracking devices act as a deterrent for theft and can lower insurance premiums. 

Data-driven decision-making: Fleet tracking systems generate a wealth of data on asset location, duration, fuel consumption, maintenance needs, and more. Analyzing this data provides valuable insights that can inform decision-making processes.  

Why it matters: Fleet managers can identify areas for improvement, optimize operations, and make informed decisions regarding fleet expansion, asset retirement, or resource allocation. 

Enhanced customer service and trust: Tracking your assets can help you improve your service verification by providing billing accuracy and quality assurance.  

Why it matters: By providing customers with accurate information on cost, rental dates, and GPS location of assets, you can confirm your invoice, improve customer satisfaction, and build trust and confidence with your customers.  

Improved driver safety: Tracking systems can monitor driver behavior, such as speeding, harsh braking, or aggressive driving.  

Why it matters: This data can be used to identify and address unsafe driving habits, provide driver training, and promote safer driving practices. Enhanced driver safety reduces the risk of accidents, lowers insurance premiums, and protects the fleet’s reputation. 

Route optimization and fuel efficiency: Along with improving driver safety, fleet tracking systems help optimize routes based on real-time traffic data, road conditions, and vehicle locations.  

Why it matters: By identifying the most efficient routes, fleet managers can reduce mileage, decrease fuel consumption, and lower operating costs. Improved fuel efficiency also contributes to lower emissions, supporting environmental sustainability efforts. 

Maintenance and vehicle health monitoring: Tracking systems can monitor vehicle performance, including mileage, engine health, and diagnostic data. Fleet managers can set up maintenance alerts and preventive maintenance schedules based on vehicle usage.  

Why it matters: By staying on top of maintenance needs, fleet managers can minimize vehicle breakdowns, increase uptime, and prolong the lifespan of fleet assets. 

How Geoforce can help 

Combining a cloud-based software platform with rugged GPS tracking devices and global satellite and cellular networks, Geoforce’s solutions include efficient asset location and retrieval, rental invoice auditing, service delivery verification, inspection compliance, equipment maintenance alerts, etc. We have a fleet of devices in various sizes and durability that can keep track of your buckets, attachments, trailers, turtles (yes, that’s true), tanks, heavy equipment, or your unique need.  

Our solutions are an excellent fit for any industry or environment thanks to our devices’ small size, durable hardware, and versatility.  

See how Geoforce can help you optimize your business.  Start a quote now.