Construction Asset Tracking – David Talks ConTech
Keeping Your Assets from Becoming Liabilities
Construction asset tracking is an approach to keeping company assets from becoming liabilities, but it’s nothing new to the industry. From every screw-gun up to the tower cranes, keeping track of tools and assets is essential. Below is a picture of my grandfather’s hammer.
In the 1940s they didn’t have computers, smartphones or “smart” sensors. They had wood handles, pocketknives and paint. You can see his last initial etched on the handle, this is how they did “tool tracking” 80 years ago.
Business success has always been dependent on balancing assets and liabilities. However, construction asset tracking has evolved beyond carving initials into a hammer.
Below are examples of why modern construction asset tracking may benefit your business.
What is Construction Asset Tracking and Why Does My Company Need it?
Every asset (employee or tool) has a cost associated with it. By using technology to track these assets, companies are able protect their investments and their bottom line. Construction asset tracking can help to improve productivity, track resources, and make other decisions with data.
A simple, low-tech example of construction asset tracking is companies painting their logo on heavy machinery to make it easily identifiable and to reduce theft. Until recently, construction asset tracking was relegated to keeping paper logs or relying on governor springs in vehicles to manage and control equipment. Today, there are software and apps that make construction asset tracking easier and more efficient than ever!
What are Some Examples of Construction Asset Tracking Tech?
- Tool Tracking Software
Some companies write-off tools as ‘disposable’ because they are either broken, given away, thrown away or stolen during a project. When a company uses tool tracking software, they can locate equipment instantaneously and know who is responsible for it. Companies are able to improve margins by wasting less time and money looking for and replacing equipment.
- Apps & Sensors for Tools
“Smart tools” are often a great investment due to higher quality and features like torque adjustment and sensors. Some of these tools store an impact driver’s torque specifications allowing workers to drive more material with less waste. These tools are also serviceable, if a smart tool breaks, the higher quality allows the tools to be repaired and reused again and again.
Why isn’t Everyone Doing It?
It’s a common trend among construction companies to be reluctant to adopt new technology. Many are skeptical because of past implementation failures and the larger price tag on “smart tools.” Construction companies often fail to adopt technology because they don’t have a plan for changing their processes, don’t have a budget, or are overwhelmed by the number of options.
I have worked with my fair share of people who have told me, “Our company (or process) is too unique. None of those software products can help us.”
The fact of the matter is, most construction companies do not require custom software. Existing “off-the-shelf” products are usually adequate for most companies. Some companies need a little help finding the right tech that’s best for their needs, a plan to implement and train on the new tool, advice on how their process must change, and (sometimes) a little ongoing support.
How do we get started?
Whether your company is already tracking assets or you’re trying to get an asset tracking program started, feel free to reach out to us. Even if you have a plan, we can discuss your strategy and ensure you choose the best tool for your needs!
Get in touch at 979-335-5815 or firstname.lastname@example.org
Joining JBKnowledge’s consulting division after graduating from Texas A&M’s Mays Business School, David started as a coordinator, then a project manager, then to a consultant. He has cultivated a formula for realizing the best solution for each company using analysis, goals with tangible results, and nurturing ongoing relationships.