Why Asset Tracking Software Is Crucial for Transport Industry?

Precise and up-to-date asset tracking is important for the transport industry. For efficient fleet management, such information is most crucial for managers. From deciding how to use assets with top productivity to addressing high-demanding events, the supervisors need to know precisely where their vehicles are in order to deploy them suitably. Moreover, we all know that this industry has huge numbers of assets and vehicles form the backbone of the transportation industry.

What is Transportation or Transport Sector?

As per Investopedia, the transportation sector is a category of companies that provide services to move people or goods as well as the transportation infrastructure. Technically, transportation is a sub-group of the industrial sector according to the Global Industry Classification Standard (GICS).

The transportation sector consists of several industries including air freight and logistics, airlines, marine, road and rail, and transportation infrastructure.

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How Can Asset Tracking Software Assist the Transport Industry?

There are several organizations that ship their products from one country to another. To that end, various means of transportation are used such as ships, planes etc. It is therefore important for organizations to keep track of their shipments.

Thus, transportation asset management software is crucial. Asset tracking management software for the transport industry is very helpful in several ways.

For the objective of asset tracking, there are several technologies in use. Some of these are barcodes, QR (Quick Response) Code, RFID (Radio-frequency identification), NFC (Near-field communication) etc.

In accordance with transport industry activity, the best methods are GPS (Global Positioning System), IoT (Internet of Things), BLE (Bluetooth Low Energy).

Transportation asset management software involves utilization of tags. The tags contain information about the product shipment. Let us discuss a few of the technologies.

IoT

According to the Markets and Markets press release, IoT fleet management market can be classified by platform (device management, application enablement platform, and network management), services (professional, managed), cloud deployment (public, private, hybrid), solutions, fleet type, and region.

It provides comprehensive tracking and all information that supervisors or managers are looking for. IoT is cost-effective and retrieves data in real time. With IoT sensors, the user know the exact whereabouts of the assets.

GPS

GPS is one of the best technologies for tracking. It scores high in cost and vitality utilization. Moreover, it has a boundless range and offers precise real-time tracking, making it especially useful for vehicles that are on the move throughout the world.

Global Positioning System tracking was initially started for fleet management. However, this technology is not only used in the automobile sector but in other industries too.

What Are the Benefits of Asset Tracking Software for the Transport Industry?

Some major benefits of asset tracking software for the Transport Industry are given below:

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Real-time Tracking

Old and traditional methods for asset tracking can be a wasteful work procedure, specifically, in the context of the transport industry, e.g. for tracking devices, equipment, assets etc., if a fleet manager is only making use of a spreadsheet saved locally to their work PC, the other team members cannot access the information they would need.

Spreadsheets cannot be a foolproof method for asset tracking. Moreover, they are prone to errors due to wrong inputs of data. As a result, this can impact the productivity of an employee as well as the entire enterprise.

The cloud-based asset management system provides real-time information on each asset without compromising on accuracy.

Reduced Theft & Enhancing Security

Theft is an endemic phenomenon. As reported in the Huffington Post, office theft is also quite common. In 2011,  “43 percent of people admitted to taking things from work to keep for personal use, according to an AOL Jobs survey. Eighteen percent of people claimed to have stolen items valued over $50.”

Asset theft impacts the business in many ways, e.g. when equipment is lost or stolen, operations get impacted immediately, productivity suffers and the bottom line takes a hit.

One of the simplest ways to save your asset from theft is to tag it with technology. Asset tracking software provides real-time location of each asset. It has a Check-in Check-out feature to know which asset is assigned to which user. Consequently, it minimizes the chances of asset theft chances and enhances the security cover of assets.

Well-maintained Vehicle

Unplanned maintenance can be a big hurdle if vehicles are not taken care of properly and in time, e.g. cab rental organizations have vehicles in hundreds of numbers. It is well-nigh impossible to keep track of them manually. Furthermore, these vehicles need maintenance in order to keep in top running condition.

Through asset management software, maintenance notifications and alerts are triggered off on a regular basis for their maintenance. This also significantly increases the lifespan of vehicles. When maintenance is done at regular intervals the vehicle efficiency increases and sudden breakdown risks are easily avoided.

Identifying Unfruitful Vehicle

It is crucial to track unproductive vehicles or the ones that are not in use but still money is being spent on maintaining them. Such types of vehicles hamper the organization's productivity parameters.

The asset software can monitor and project depreciation of items in order that they can be replaced when the time comes. The system assists in growing the business by identifying unproductive items and aids in decision-making.

Endnote

Transport industry is a gargantuan sector. Most importantly, it is interconnected with many other industries. The modes of transfer include air, water, road, etc. Transportation enables manufacturing organizations to send their goods and shipments, cab services, and so forth. Hence, transport assets form the central core of the business around the world.

Also Read: Changes Before and After Implementing Asset Tracking Software

Transport assets need maintenance and security. In order to achieve these, transportation asset management software is a necessity. It saves the organization from premature buying of assets or vehicles and provides important information like asset location, current user, etc.

This software enables in monitoring assets and vehicles anytime and anywhere. You can also see the maintenance history of vehicles.

Thus, this software is packed with benefits! If you still need any information or assistance, you can always contact us. We will be only too happy to help out!