The greater need to streamline the asset tracking system comes straight proportionally with the growth and maturity of the information technology.
In general, trucking companies in the USA have started managing their assets by using a configuration management database. The need for easy access to what is the condition and worth of the assets is becoming more and more indispensable.
Moreover, the reason why asset tracking system is becoming more and more important in the trucking industry is due to the complete end-to-end asset management solution. This management solution can provide companies with a detailed reporting about their assets. Later on, the detailed reporting will help them in obtaining the necessary budget allocations.
Henceforth, it is obvious that the technology has matured. Positively it has brought the security of high-value assets. Also, the numerous innovations that the asset tracking system has undergone through, has led it to become a necessity, not a luxury for the trucking companies.
Further, in this article, you will have the chance to read all facts and figures that you need to know prior getting asset tracking system.
So, let’s take a look!
1. How Does Asset Tracking System Works?
There is a big difference between inventory and assets. That is why I would like to start this article by explaining how the asset tracking system in fact works, and what is the main purpose of its invention and integration.
So, asset tracking system is used by many trucking companies nowadays. Well, it is so mainly because it can keep track of the permanent items that trucking companies are using internally.
In spite of that, the asset tracking system will keep track of the following things:
- Warranty information as well as service contracts;
- Will help you with the schedule truck maintenance;
- Import and export data;
- Calculate the depreciation of your equipment;
Still, on the other hand, you should be aware of the fact that there are different data capture solutions for each managing inventory and assets.
Thereupon, when choosing an asset tracking system you should make sure that you will select the best system that can fulfill the needs of your trucking company.
2. Asset Management: What Difference Will It Make?
Straight after you implement asset tracking system in your trucking company you will come to the realization that it does make difference.
But what kind of difference does it make? How will that difference be manifested?
Be that as it may, the difference that asset tracking system will make in your trucking company will be noticeable straight away in day-to-day routines. Thus, the better-managed asset data the better emolument your trucking company will receive.
So, when I say better emolument, I refer to the enabled access to records in real time. Thereupon, these records will keep you away from inaccurate asset information.
I bet that you will come to realize that when you start using asset tracking system you will prepare and file reports much quicker than before. On the positive side, getting asset tracking system is alike saying good-bye to compiling data for reports.
Hence, it is positive for you to know that in general, the asset tracking system has many user-friendly tools. Also, the asset tracking system will make sure that you will always have on your disponibility a complete history of the overall activity in your trucking company.
Yet, I must not forget to mention the automate asset transfers. The asset tracking system will provide you with increased efficiency, enforced compliance and many more positive features that come altogether with the automated asset management solution.
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For the purpose of getting asset tracking system, you should also know that it will provide you ultimate maintenance of the assets.
3. What Organizational Benefits Does An Asset Management System Provides?
An asset management system will touch upon many aspects of your trucking company; straight proportionally it will bring many organizational benefits.
Accordingly, the asset management system will increase the control of your assets as well as their locations. Also, not only that you will increase the control of your assets with an asset management system, but you will as well increase the efficiency of the physical space in your trucking company.
Briefly said, by getting asset tracking system you will receive the following benefits:
- You will make informed decisions on multiple aspects;
- Better financial results and cost reduction;
- Higher customer satisfaction;
- Stability and improved reputation;
By and large, if you choose the perfect asset tracking system for your trucking company, you will anticipate the real needs that your company has. In addition, you will also be able to identify the trends in advance.
4. Will Asset Tracking System Bring You Scalability of Cost and Scope?
Will asset tracking system bring you scalability of cost and scope, depends mainly on the type of asset tracking system you will choose. For example, there are cloud-based tracking systems as well as tracking systems that require long-term contract and upfront investments.
Later on, the asset tracking system that will provide you scalability is the one that will provide you the option of multiple features and modules. Yet, after all the software upon which the asset tracking system is running is robust, and as such, it is offering as many modules as you need whereas at the same time tracking millions of assets on different locations.
In essence, if we make a comparison between the asset tracking system that requires you to purchase the software, and the asset tracking system that is cloud-based, we can see that the asset tracking system that will help you avoid a major upfront investment is the second one.
5. Check If Asset Management Can Bring You Regulatory Compliance
Since you are part of the trucking world for many years, you know that the regulatory compliance is of a great importance in this industry. So, I do believe that you are over misplaced log sheets, forgotten procedures as well as failed inspections.