Modern day construction companies are facing a number of significant challenges, essentially all at the same time. For starters, they’re facing increasing competition from nearly every angle – new businesses enter the market, seemingly every day. At the same time, technology has advanced to the point where even your smallest supply chain must now operate with what is essentially a global mindset – after all, the digital world that we’re now living in certainly feels smaller than ever. This in turn bleeds into what is perhaps the most significant hurdle to overcome of all: already-thin profit margins that are growing smaller all the time.

GPS tracking

But as technology disrupts an industry to pose new challenges, it also seems to provide the solutions to those challenges, particularly as far as construction businesses are concerned. These days, more and more of them are turning to GPS tracking technology to manage their assets more efficiently than ever – and they’re enjoying a bold new era of profits and productivity because of it.

 

GPS Tracking and Construction Companies: Breaking Things Down

One of the most prominent examples of this type of GPS tracking and asset management system is called Verizon Connect, which is an add-on to its already popular array of vehicle tracking options. With GPS-based vehicle tracking, construction businesses are able to gain more insight into their fleets than ever before. They can see which drivers are taking inefficient routes for the purposes of ongoing training and education, and they can see which jobs require the most assets so that they can make sure they’re properly allocated, etc.

Asset tracking takes things one step further, enabling businesses within the construction sector to manage all of their mission-critical assets with real-time visibility. Now, construction companies can see the exact location and performance of all of their valuable assets, including but not limited to things like cranes, trailers and even excavators.

This may not seem like a lot, but in reality the implications are huge. If you can see exactly where all of your cranes are at a given moment, you can also see how they’re performing and being utilized. In terms of asset allocation, this means that people will never have to wait around a job site while they hope that the resources they need arrive. Instead, they’ll always be there, beyond the shadow of a doubt, because you will have known to put them there ahead of time.

Likewise, because you’re able to see more information about the actual performance of your assets, you can also see conditions where maintenance is quickly becoming a necessity. This puts you in a better position to proactively address small problems now before they become much bigger ones down the road. Not only will this again maximize the availability of these assets, but it can also help avoid situations where resources suddenly and unexpectedly become unavailable – further harming your bottom line in the process.

By giving construction companies this real-time insight into the location of assets, you can also better view things from a historical perspective as well. Not only do you get to see where all of your equipment currently is – you also get to sense where it has been, too. You can get a better sense of how machinery is running based on how it has always been used. Not only does this provide essential insight into equipment utilization and determining what needs to be moved where and why, but it can also help clue you in on when things need to start being cycled out of use – thus giving you a chance to prepare for that day before it actually arrives.

Managing a construction company has always been a difficult job, and in a lot of ways, it likely always will be. But thanks to the rate at which technology continues to advance and the fact that construction companies can now use GPS to manage their assets more efficiently, it just got a whole lot easier than ever before.