Who Benefits from Asset Tracking?

Asset tracking can benefit a variety of industries, including education, construction and government agencies. In each of these industries, tracking asset data can save time and money. Asset tracking is the process of monitoring and managing physical assets throughout their lifecycle. This includes everything from acquisition and deployment to maintenance and disposition. Asset tracking systems are used to track and manage data about assets, including location, ownership, utilization, and maintenance history.

Education Asset Tracking

Education environments host a wide variety of assets that are important to manage as a portion of accountability is on the student body. However, everyone can benefit from asset tracking at a district level. Every level above the classroom itself needs insights on current assets so proper budgeting can take place. Appointed administration need information from the bottom-up to understand the gaps they face when bringing in growing classrooms of students.

Positions Affected

  • School Administration (Board of Trustees, Superintendent, Directors, Principals and associated support staff.)
  • Teachers and their substitutes
  • Maintenance staff and grounds keepers
  • Students and parents

Schools Can Stay on Track

For example, in the education sector, asset tracking can help schools keep track of their inventory and prevent theft. Often times classrooms have multiple shared assets between the teachers, but it isn't uncommon for some schools to have students sharing programs as well. The student-oriented assets schools need to keep data on are laptops, tablets and textbooks. Asset tracking can help make sure that each student and teacher has the right devices, and that all devices are accounted for at the end of the day if necessary. As schools expand out, even the chairs and desks can be tracked for their inevitable repair or replacement.

School's budgeting usually plans for a certain number of laptops and textbooks per class, so it's important that they are able to monitor and keep track of these items. Asset tracking can help identify when an item is missing, or if there has been a significant decrease in the number of devices available. This data can then be used to make decisions about ordering new devices or allocating funds for replacement devices. This becomes more important when you consider how expensive some of these items can be, but also the turnaround time a school will need to obtain a replacement.

Construction Asset Tracking

Construction environments host a wide variety of assets, but the arguably more important factor that asset tracking technology impacts is the budgeting forecasts. This allows construction companies to make more accurate bids for projects when they have clear data on the inventory they keep and what will be needed for purchase in the future. Because a large amount of a construction workforce uses at least power tools and computing technology, the sky is the limit for tracking.

Positions Affected

  • Project managers
  • Purchasing and estimating managers
  • Foreman and crew members
  • Subcontractors
  • Inspection agencies

Projects Can Stay on Track 

In the construction industry, asset tracking can be used to keep track of tools and equipment. Construction sites are often large and spread out, which can make it difficult to keep track of all the equipment. Asset tracking can help construction companies know where their equipment is at all times, and also help them keep track of maintenance and repairs. This is important because it can help avoid costly delays on construction projects due to machinery being down unexpectedly.

Tracking assets also can assist with budget forecasting in the construction industry. For example, let's say a construction company is working on a new building. The company will need to track the number of workers at the site, the equipment and materials being used, and the materials being delivered. Asset tracking can help managers see where money is being spent and identify areas where costs can be cut. In some cases, companies may even be able to sell off unused equipment or materials after a project is completed, rather than letting them go to waste.

Government Asset Tracking

Asset tracking can help government agencies keep track of their fleet of vehicles, preventing waste and improving efficiency. State government agencies can use asset tracking to monitor the utilization of their vehicles and ensure that they are being used efficiently.

Positions Affected

  • Federal, state, and city governments
  • All segmented departments like DOT, USDA, etc.
  • Companies on local or federal contracts such as waste management or highway repair.

Public Services Can Stay on Track

Asset tracking can help improve the quality of government services by ensuring that assets are properly maintained. Asset tracking can help reduce the cost of government services by preventing overspending on inventory and scheduling asset maintenance. Asset tracking can help government agencies keep track of their assets, schedule maintenance, and prevent theft or loss. There can also be a very noticeable change towards the times government entities can expect when performing audits.

Asset tracking can also help government agencies keep track of their inventory, schedule maintenance, and prevent theft or loss. With over 51 branches of the United States government that oversee food, transportation, safety, and more - those asset tracking can benefit would be too lengthy to discuss.

Assets in Their Place - Data in Your Pocket

To keep the lessons learned short, asset tracking can save businesses or branching organizations time and money by helping them to keep track of their assets. In each of these industries, asset tracking can improve efficiency, reduce waste and improve the quality of care given to each project or person.

Redbeam offers a user-friendly solution that allows companies to track assets in the classroom, storage facility, or at home. Whether you have one or one hundred assets your staff needs daily, Redbeam's tracking software solution can help your administration be more efficient and your team be more productive.