If you run a construction company, you likely have a hoarder or two lurking on your job sites. They may not have garbage or food strewn all over their homes, but they probably have equipment that your other Supers could be using on other job sites gathering dust instead of racking up the engine hours.
Whatever the reason for hoarding – no incentive to let the tool go, capped charges, project stoppages/delays – it can do serious damage to your bottom line. One way to solve the problem is to start GPS asset tracking.
Here are the top 5 ways GPS tracking equipment can help asset hoarding employees clean up their acts:
1) Period of Time Charging
Geofence your job sites and start using period-of-time charging. This will incentivize your PMs and Supers to return the equipment to the yard as quickly as possible.
2) “General Wear” Fees
Even if you’ve capped the charges for holding the equipment on a job site for the entire project, GPS asset tracking makes it possible to charge for the equipment based on engine hours. You can define the point at which the equipment is used more than the allotted number of hours and start charging for general wear/maintenance.
3) Preventative Maintenance
Define a period of time after which your assets have to be returned to the yard for maintenance to help you extend your equipment’s life span.
4) Project Timelines
Because your project leaders are likely money (bonus) motivated to get their projects wrapped up as quickly as possible, this can make asset hoarding really attractive to them. However, for business owners, every hour that equipment is not being used when it *could* be means lost revenue. GPS asset tracking tells you where your equipment is and what their use looks like can make movement between nearby jobsites much more streamlined.
5) Project Stoppages
If you’re tracking mileage and/or hours used and when, you can keep track of when assets are sitting idle and react appropriately. (Better yet, if you realize you’re starting to rack up engine hours again after a project stops, you can resume billing the client.)
These are just a few ways that construction asset hoarding can really hurt your business…and GPS asset tracking can help. If you’re not GPS tracking your assets or vehicles yet, what’s stopping you? Our industry-leading service and support team at ClearPathGPS can help you custom-tailor our system to fit your company’s needs and start padding your wallet instead of the alternative.
After all, isn’t that what you’re in business to do?
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