Asset Tracking
Technology

GPS Technology Shaping the Future of Asset Tracking

Global Positioning System or GPS as it is simply known has had a significant impact not only on the transportation industry but also on the way how numerous companies do business. The GPS satellite system was initially used in military projects to help guide missiles accurately and pinpointing various locations with absolute certainty. Today, this technology is used by countless individuals and various companies to help protect their assets and navigate unfamiliar cities with ease. GPS systems have evolved since being introduced to the world. Advancement has made them more accurate and useful. However, here I will talk about how they help in business asset tracking and save a considerable amount of time and money.

Asset Tracking

Various businesses such as construction, manufacturing, landscaping, farming, shipping and logistics, restaurants and food trucks, and motorsport trailers have fleet of vehicles and assets to manage which is a very challenging task. Upon this remote job sites and hectic schedules further make asset tracking very difficult and most business fall victim to theft of valuable assets which can be costly. But thanks to advancement in GPS tracking technology, businesses can use a digital eye to do the most difficult job of the business. GPS tracking offers a broad range of applications such as GPS asset tracking, vehicle tracking, fleet tracking, heavy machinery tracking to tiny tracking devices for valuables.

Here are some ways to use GPS in asset monitoring.

GPS asset monitoring technology is one of the sought out technology due to its versatility and effectiveness. The other technology is RFID which scans toll fees on highways to stop shoplifting, however, this technology has limitations and the need for specialized scanners restrict its application. This is why GPS asset monitoring marks the edge over the rest.

Small Asset Tracking

GPS based tracking of vehicles is obvious ways for businesses to keep track of their larger machinery as well as their valuable equipment. However, with advancement in technology, GPS has been used to track smaller items as well. In fact, many industries use GPS devices to keep track of high-value items. For example, hospitals spend a lot on the latest medical equipment, unluckily, many of these assets are also susceptible to theft and many medical supplies can be misplaced from the hospital’s own inventory.

Using asset tracking monitoring devices can help hospitals prevent theft and manage their properties and figure out which ones are used the most. This helps hospitals in storing their equipment and supplies in an efficient and organized way. The other small assets tracked using GPS devices are by law enforcement officials in tracking prescription drug theft, phone stores and electronic retailers also deal with high risk of theft and use GPS tracking devices for smartphones and electronics to protect their shipment and stocks.

Art galleries, museums, and auction houses too use tracking devices for the same reason and to ensure that nobody leaves the premises without permission. Jewelry retailers also use GPS tracking devices to protect their product inventory but they are customized and miniature trackers. This not only alerts them when an unbilled item leaves a store, it also protects them from the worst during big events like keeping track of jewelry that travels to different locations for exhibitions and trade shows.

Large Asset Tracking

Industries like agriculture and construction face a high-risk of equipment theft especially the ones that employ more employees and seasonal workers. In fact, nearly $1 billion worth of construction equipment is stolen per year. So, GPS asset tracking is especially valuable for these industries to protect their large vehicle and heavy machinery and it’s easier to install than other security processes. As the technology is advancing and the use of GPS tracking devices is increasing, cheap GPS tracker can be bought easily but you need to ensure that they are bought from a certified retailer. The transportation industry also makes use of GPS asset tracking to avoid cargo theft and optimize their fleet to know the exact location in real-time.

Tracking devices and GPS trackers are used to help protect assets, however, this technology can also be used by individuals for personal purposes. For instance, if your home is invaded and the stolen items have GPS tracker then you can easily alert the police regarding the location and assist in arrest of the burglar(s). In addition to that, luggage can also be tracked during travels. This will ensure that you won’t lose any of your bags, or if you do, you can easily track it down.

So, GPS technology can be used to monitor just about anything, as it is useful for vast resources and provide benefit to a wide range of industries like fleet tracking, parcel delivery, and wholesale. It is not only used to track your valuables but also the people you entrust like drivers and their driving habits. GPS asset tracking is safe, effective, and saves a lot of money as you can plan the route for your fleet, track the location and send them to nearest business location, note the idling time and save fuel use.

Vaibhav S
Myself, Vaibhav S is a Founder and Editor-in-Chief of TechnoGiants, working Software Professional, and an avid lover of Software's and Web Services. I love computers and also love to write and share about Tech-related Stuff, Computers etc with others.
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