Construction projects require management and tracking of assets, such as machinery, tools, and equipment. Ensuring project completion and cost minimization heavily relies on coordinating these. In the past, construction heavily relied on manual processes and visual inspections. However, with advancements, the industry has embraced a precise and efficient approach: utilizing asset tracking software.

Challenges of Manual Asset Tracking

Before diving into the utilization of asset tracking software for construction, let’s take a look at some challenges that recording asset information on spreadsheets or paper documents through methods poses:

Human Error 

Manually entering data increases the likelihood of error, including mistyped or misread information. Such errors can lead to confusion and inefficiencies in managing assets.

Time-Consuming 

Manually tracking assets requires time and effort as employees physically locate assets and update records.

Limited Visibility

Paper-based systems make it difficult to obtain real-time updates on asset whereabouts or status. This lack of visibility can cause delays or misplaced assets.

Technology Enhances Asset Tracking

Thankfully, technology has transformed these practices in the construction industry:

Barcoding Technology 

Barcoding has become a widely adopted method for tracking assets throughout their lifecycle. Affixing barcodes on assets allows workers to scan them using devices equipped with barcode scanners.

GPS Technology 

Additionally, construction companies have started utilizing GPS tracking for construction equipment. These devices enable real-time asset location monitoring when spread across job sites.

Track and Trace Software

To efficiently manage all aspects of construction-specific track and trace software provides a useful platform. This software offers features such as barcode scanning, automation of data entry, real-time notifications/alerts, maintenance scheduling, report generation, and integration with business systems.

Implementing Technology-Driven Asset Tracking Practices Brings Benefits to Construction Companies

Enhanced Transparency

By utilizing asset tracking software, construction companies gain real-time visibility over their inventory of assets. This transparency facilitates better decision-making while reducing the risk of asset loss or theft and minimizing purchases.

Improved Accountability 

Asset tracking software assigns assets to employees or teams for accountability. This feature ensures that everyone handles assets responsibly, resulting in reduced damage or loss.

Increased Efficiency

Technology simplifies the process of tracking assets, saving time and reducing the need for paperwork. By automating data entry, workers can quickly update asset information in time without relying on documents.

Cost Savings 

Efficient asset management leads to cost reductions associated with stolen assets. Having accurate data readily available allows companies to avoid purchases by utilizing resources that are not fully utilized.

Improved Maintenance Planning 

Asset tracking software often includes features for scheduling maintenance tasks. By planning maintenance based on real-time data, assets can be kept in good and maintained condition, thus maximizing their lifespan.

Implementing Technology-Driven Asset Tracking

Integrating technology into construction involves the following steps:

Clear Asset Identification 

Each asset should be assigned an identification number or barcode to ensure accurate tracking throughout its lifespan.

Selecting the Appropriate Software Solution 

Evaluate your company’s asset management needs carefully and choose a track-and-trace software solution that aligns with those requirements.

Employee Training 

Providing training is crucial to ensure a better adoption of the new system among employees at all levels. Training sessions should cover topics such as how to use barcode scanner mobile apps, update records, and access information from the software platform.

Data Integrity Measures 

It is important to validate the data recorded to ensure accuracy and consistency within the system. Conducting audits can help cross-verify the count with the recorded quantities.

Conclusion: Unlocking Efficiency Through Innovation

The construction industry has been revolutionized by technology, which presents an opportunity for these practices. By adopting these systems, construction companies can experience maximum efficiency, increased transparency, reduced downtime, and overall cost savings. Embracing technology-driven solutions is a way to future-proof the construction industry and ensure efficient and on-time project delivery.