26 August 2020
Asset management in the transportation industry is all about strategically operating, maintaining, and expanding your physical assets in an effective manner throughout their life cycle. Over time, numerous systems for asset management from the private sector have been derived and adopted by the transportation industry. However, the distinguishing feature of asset management in transportation is that it is more focused on the assets, their condition, and their performance. Of these, asset tracking plays a pivotal role.
Asset management software is an end-to-end solution for asset and fleet management, providing a service platform that enables global connectivity between the company and its assets.
An asset tracking software helps managers and supervisors keep track of shipments as they are delivered via different means of transport.
Such software works with the best of technologies, including IoT (Internet of Things), GPS (Global Positioning System), and BLE (Bluetooth Low Energy). It makes use of barcodes, quick response codes, radio-frequency identification, or near-field communication to track deployed assets.
Here is more about the tracking technologies used in asset management software:
The Global Positioning System (GPS) is a simple tracking tool that lets you keep an eye on your assets using a smartphone or computer. A plus point of GPS tracking systems is that they are user friendly and mostly come with a free downloadable application.
The Internet of Things (IoT) is a technology used in tracking systems. It is cost-effective and provides the user with a real-time data retrieving system. It lets you know the exact location of your assets with the help of sensors affixed on them.
Bluetooth Low Energy (BLE) is a wireless personal area network technology which is designed to provide a smart asset tracking system with reduced costs and improved power efficiency.
Some of the key benefits of using asset tracking software in the transport industry have been discussed below:
Real-time asset tracking has become a choice of need. It has made inefficient tracking and cumbersome management systems a thing of the past.
The software is crucial for efficient data management and works by giving real-time notifications. Additionally, it comes with multi-user collaboration, further saving on time and costs involved.
Asset tracking software makes use of tags, barcodes or QR codes to track your asset’s location. These can further be automatically scanned through different stages of the shipment delivery process without needing someone to be physically present. This makes it a cost-effective option as it helps in eliminating extra labour.
The tracking system is used to track every asset, especially vehicles, regardless of whether they are being used. This helps identify less productive assets or those that are not being used but are eating up your money. Such assets hamper your company’s productivity and should be removed from the system.
Theft is sometimes unavoidable and all you can do is use a tracking system that will help track your assets throughout the supply chain to ensure their safety.
The transport industry is one of the biggest industries that deal with a huge number of assets, including shipments, vehicles, etc. Keeping a track of all assets is humanly impossible and that is why you need a smart asset management system for enhanced productivity and growth.