GPS tracking tags give you the ability to remotely monitor your inventory assets from virtually anywhere in the world. This is more ideal from a business point of view if you can be involved in transporting assets. Whether you transport by land, water or air, this is an effective means of ensuring that assets get from one place to another safely.
In recent times, GPS technology has progressed, devices have become more affordable and freely available, so assets of all kinds are tagged with GPS units. This can be for tens of assets or, in cases, a fleet of thousands of assets. The GPS tracking software used to track the units is also much more powerful and easy to use, making them a much more worthwhile investment for businesses of all sizes. By keeping your stock safe, you save time and money in the long run by not having to deal with the consequences of having your assets stolen.
Using GPS tags can help you recover stolen assets faster. Sometimes it’s not just the hassle of replacing stolen equipment that makes theft so inconvenient for a business; it’s the downtime between losing it and getting a replacement. It is particularly painful when that piece of equipment is critical to the daily operation of the business. With GPS tracking, the exact location of an asset can be provided to authorities for immediate recovery and a business can make money again.
It’s also worth remembering that you can use these technologies to determine how effectively assets are being/used. Within any business, an asset is an investment and when it is idle it gives the business zero return. GPS tracking can highlight assets that are underutilized, which can then be put to work or sold, which in turn can free up capital for the business.
Taking this action can also result in savings on annual business insurance costs. Most insurance companies consider GPS tracking to be an anti-theft device and offer a discount on premiums for it. Plus, by recovering the stolen equipment yourself (using GPS tracking), you reduce the number of claims you make, which lowers your insurance premium and excess costs.
More and more companies are beginning to take advantage of the qualities that GPS Tag technology can offer to the end user. Above all, companies use them to prevent theft and recover stolen assets. This has never been more obvious as some companies are now investing their money in GPS technologies as a security measure, rather than hiring security personnel. For many companies, this is considered a more cost-effective solution to protect assets.