Tag: asset trackers

AI Asset Tracking

The Benefits of AI Asset Tracking

Posted on | by Alexis | Leave a Comment on The Benefits of AI Asset Tracking

Once relegated to science fiction, artificial intelligence (AI) and machine learning (ML) are now hot topics in the world of fleet technology and more specifically, asset tracking. It’s easy to see why; both innovations are making their way into every facet of our daily lives, from the way we drive our cars to the way we do our shopping. 

It’s not just consumer-facing applications that are benefiting from AI. Businesses in a wide range of industries are beginning to adopt AI technology in order to improve their operations. 

One such industry is transport and commercial fleets, where AI asset tracking tools are giving fleet managers greater visibility and control over their assets. 

In this article, we’ll discuss some of the ways AI asset tracking can benefit your business.

What Is Artificial Intelligence?

AI is a branch of computer science focused on mimicking human-like intelligence in machines. AI research deals with the question of how to create computers that are capable of behaviour such as decision-making, natural communication, and problem-solving.

A great example of this technology in present use would be virtual assistants such as Siri and Alexa, which answer questions and perform tasks based on user requests.

What Is Machine Learning?

Machine learning (ML) is a subset of AI. ML also emulates human intelligence in computer systems, only with a specific focus on pattern recognition.

This means that, rather than being explicitly programmed with a set of rules and regulations to follow, machine learning algorithms are “trained” on data sets. The more data the algorithm is exposed to, the better it becomes at generalizing from that data and making predictions.

It’s very likely that you’ve encountered ML in your day-to-day life; common examples include spam filters on your email and product recommendations on sites such as Amazon.

The Role of AI Asset Tracking

AI and ML are increasingly commonplace in modern devices and products. Asset tracking tools are no exception, and use the technology to enhance and automate work processes.

Automated Tracking

AI asset tracking provides an enhanced level of automation without the need for human input. This is done through a combination of sensors and RFID tags, which are able to collect data on the location, movement, and status of a given asset.

This data is then fed into an AI system which uses predictive modeling to generate real-time updates on the location of each asset. This is an extremely valuable capability as it frees up resources that would otherwise be dedicated to manual tracking, and reduces the potential for human error.

Inventory Management

Inventory management is another key area where AI asset tracking can streamline work processes.

AI asset tracking systems can automatically keep track of inventory levels, and notify relevant personnel when stock is running low. This eliminates the need for manual checks and helps to ensure that inventory is always kept at optimum levels.

Predictive Maintenance

Predictive maintenance refers to the proactive maintenance of equipment and devices. The goal is to prevent issues before they happen by using data to identify potential problems and schedule maintenance accordingly.

This is accomplished by training machine learning algorithms on data sets that include information on past failures. By detecting patterns in this data, the algorithm is able to make predictions on whether or not a particular asset is likely to experience an issue, and when. This information can then be used to plan maintenance and avoid costly downtime.

Product Quality Inspections

Product quality inspections are another common use for AI asset tracking. By using machine learning algorithms to analyze data from sensors and cameras, it’s possible to automatically detect defects in products. This information can then be used to trigger quality control measures or stop production altogether if necessary.

Optimized Routes

Asset tracking systems often need to plan routes for commercial vehicles. This can be a time-consuming and challenging task, particularly when dealing with a large number of assets.

By taking into account a variety of factors such as traffic, weather, and the current location of assets, AI asset tracking systems are able to generate optimized routes much more efficiently. This not only saves time, but also reduces fuel costs and carbon emissions while improving driver safety.

As you can see, AI and ML have a major impact on asset tracking. Businesses can improve efficiency, save time and money, and prevent issues before they cause problems. If you’re not already using these technologies in your asset tracking system, now is the time to start.

Benefits of asset tracking

The Top Five Benefits of Asset Tracking

Posted on | by Alexis | Leave a Comment on The Top Five Benefits of Asset Tracking

Your organization’s assets represent a massive investment; asset tracking provides visibility into their status, location and usage. As a result, these solutions can help optimize your assets’ efficiency and extend their lifecycle, saving your organization money in the short and long-term.

Are you interested in asset trackers for your business but not sure where to start? This guide will provide you with everything you need to know about this essential fleet management technology. 

What Is Asset Tracking?

Asset tracking refers to the process of monitoring physical property. It’s a strategy used by countless organizations to keep tabs on their valuable items and gain insight into the way they’re used.

This concept has been around for decades, traditionally taking the form of paper-based spreadsheets and notes. As technology has evolved, so too has the process, to the point where most asset tracking systems today are entirely digital.

Modern tracking software uses a variety of tools to do its job, including barcodes, QR codes, GPS and RFID tags. Each of these technologies work differently, yet all serve the same function of connecting a physical item’s real-world status to an online database.

What Is Asset Tracking Used For?

Asset tracking is used in a variety of industries and for a number of reasons. In the context of transportation or fleet management, companies usually invest in the technology to keep tabs on their vehicles and/or payload. 

These systems might be applied to ensure that a company vehicle is being used as intended, to recover a stolen vehicle, or to make sure that a vehicle’s contents are delivered on time.

In other industries, such as healthcare and retail, asset tracking systems are used to keep inventory in check. This might involve tracking high-value items such as medical equipment or designer clothes. In some cases, the system might be used to keep an eye on company property, such as laptops and tools.

The Top Five Benefits of Asset Tracking Systems

While there’s no doubt that asset tracking is growing in popularity, there are those who remain hesitant to invest in the technology. The main reason for their reluctance is cost. While some asset trackers may indeed be cost-prohibitive, there are scalable, economic solutions for fleets of every size. In addition, the benefits can quickly outweigh the burden of the initial investment. 

Here are the top five benefits:

1. Increased Equipment Longevity

Maintenance is a key practice in the world of transport – let it fall by the wayside and you’re quickly looking at operational disruptions, accidents and added costs. 

Fleet managers have traditionally relied upon paper-based systems and maintenance logs to keep track of when their trucks, buses and cars are due for maintenance. The problem with this method is that it’s often inaccurate and incomplete, leading to assets being overlooked and neglected.

An asset tracking solution automatically logs vehicle data, including usage and mechanical status. When it comes time to service the vehicle, a tracker will flag the vehicle and send an alert to the fleet manager. 

As a result, assets receive the maintenance they need when they need it, meaning they’re less likely to break down and require repair or replacement.

2. Centralized Data

Another downside of paper-based tracking systems is that data is often stored in a number of different places. From spreadsheets and individual notes to diaries and planners, it can be difficult for fleet managers to get their hands on the information they need, when they need it.

Asset tracking stores all data in one centralized location, meaning it can be accessed quickly and easily by anyone with permission. Instant access to vehicle data helps improve decision-making, maintenance schedules and even route optimization, as managers are no longer working with outdated or incorrect information.

3. Improved Operational Efficiency

Time is money. In transportation, the longer a vehicle is on the road, the more money it’s making for the company.

Asset tracking systems can optimize routes and schedule maintenance in a way that minimizes disruptions and unnecessary travel. This not only saves time, but also helps improve fuel efficiency.

4. Reduced Costs

While asset tracking represents an initial investment, this technology can help reduce costs in a number of ways.

As we’ve already mentioned, asset tracking systems can help to extend the life of your vehicles by ensuring they receive the maintenance they need, when they need it. In addition, collected data can be used to improve fuel efficiency and reduce wear and tear on assets. In some cases, asset trackers can even qualify as anti-theft devices, thereby reducing insurance premiums.

5. Enhanced Customer Service

In the world of transportation, customer service is key. Your clients want to know that their goods will arrive on time and in good condition – anything less and they’ll take their business elsewhere.

An asset tracking system can help to improve customer service in a number of ways. For example, asset tracking data can provide updates on a shipment’s progress. If there are any delays or issues, the system can be used to quickly reroute assets and minimize the impact on customers.

It’s the twenty-first century – why rely on paper-based systems that are inefficient and inaccurate? Asset tracking systems offer a number of benefits that can improve the efficiency of your business. 

From reducing costs to enhancing customer service, there’s no reason not to make the switch. Contact your GoFleet consultant today and find out which asset tracking solution is right for you.

asset trackers, tracking, business, fleet

How The Frequency Of Asset Tracking Updates Makes A Difference

Posted on | by Victoria Gole | Leave a Comment on How The Frequency Of Asset Tracking Updates Makes A Difference

Telematics has been the key to improving fleets over the past several years. It all began with asset trackers, a solution to track data about various aspects of a vehicle to enhance fleet processes. With developing technologies, asset trackers are improving in terms of their ping rate, the rate at which the data is updated. Increasing ping rate has led to the invention of live tracking and helped improve scenarios of theft and liability insurance.

Live Tracking – Updating Data Per Second

Setting up constant pings allows fleets to know the exact location and other variables about a vehicle every second. With live tracking, fleets have better communication with their drivers, allowing them to give better instructions allowing them to finish tasks faster. This real time tracking enables fleets to increase the amount of service calls per day by approximately 23%. Fleets are able to keep an eye on their drivers and drivers being aware about this, improve their driving habits to proper standards. 

A faster ping rate also allows for faster response rate. On average, the drivers that are monitored with a real-time tracking system arrive within the promised response time 46% more often. With better driving taking place, fleets can manage their expenses effectively by decreasing idle times, improving dispatching and routing, monitoring speed and getting an alert to stay informed of necessary vehicle maintenance.

Live tracking opens up ways for not having to rely on drivers to record all their mileage logs. This information will automatically be calculated and reported by the real time tracking system. One of our solutions the GO9, implements live tracking offering industries fastest updates along with several other features. 

What differentiates the GO9 from the rest is that the framework provided is built around new technologies and platforms and has extended capabilities related to electric vehicles and global expansion. 

Moreover, the addition of the gyroscope is what makes the difference. The gyroscope within the GO9 enriches data with additional granularity. It improves on the current X/Y/Z axis acceleration logging by providing a real time sense of the vehicle’s orientation. This results in better accuracy with tracking and analyzing vehicle movement. This is beneficial specifically on winding or bumpy roads and more importantly, for collision reconstruction where a second by second breakdown of events is required. 

 

Theft Reduction – How Fast Ping Rates Mean Fast Asset Recovery

As mentioned before, the higher the ping rate, the higher the frequency of updates and the more accurate data fleets have to work with. This is especially beneficial for scenarios where theft is being dealt with. Imagine sitting at a desk and looking over a spreadsheet of assets when suddenly, an asset worth $150,000 is unaccounted for. How will it be recovered?

Unfortunately, recovery of stolen equipment is not as common as it should be. Thieves often are able to make off with expensive equipment before getting caught. This is a result of delays in discovery and reporting of thefts, nonexistent or inaccurate records and confusing equipment identification systems. 

Asset tracking makes it simple. It allows fleets to monitor the last known location of assets, whether an asset is on or off, and if it’s idling or actively moving. Depending on the solution implemented, it can provide fleets with additional data including pressure, temperature, travel speed, acceleration and deceleration. 

Proper tracking eliminates the delay in the reporting of equipment theft and can also track the location of the stolen item. It also provides you with documented data that law enforcement can use in the event of theft. 

Another type of enforcement, geofencing, also known as a virtual boundary, can be set in place for any geographic area. If an asset were to travel outside or enters into any set geofence perimeter, alerts can be set to automatically notify fleets about the movement. This enables you to track when employees arrive at or leave a job site, receive confirmation when a shipment arrives at a delivery location and mark a specific area as a “no entry” zone for any given asset.   

 

Liability Insurance – Ensuring Costs Remain Within Budget

Fleets relying on vehicles to conduct day to day business invest a great amount in mobile assets and expect a return on investment. Along with the more expected costs of fuel and maintenance, fleets can incur significant hidden expenses and increase liability. 

All businesses with fleets shouldn’t only be concerned with their driver’s safety but also be aware of the risks related to liability exposure. To minimize risks, asset tracking solutions can be implemented to stay proactive to see potential problems and resolve them. 

Improving safety standards should be a top priority as improper safety procedures can put companies at risk and quickly increase their liability for damages incurred by anyone injured in an accident with one of its vehicles. 

Unauthorized vehicle use can open fleets to a range of liability problems. Faster ping rates can notify fleets when assets are in use outside of work hours, where they’re being taken at all times during the day and confirm use with historical route data. 

Improper maintenance of assets can lead to serious accidents. It is important for fleet managers to be proactive in vehicle upkeep to keep their employees safe and reduce the chances of malfunction on the road. Ensuring fleets stay on track of their preventive maintenance schedule is crucial with the use of alerts set by calendar day, engine on-time, or mileage. 

Introducing asset trackers that implement live tracking may seem like an added cost to the budget, but it can save fleets significant amounts in the long run. It will enforce safety procedures and maintenance schedules while better training fleet managers and tracking employees. If your business is looking for a way to reduce overall fleet costs while increasing liability protection, contact our specialists to implement the right fleet tracking software.

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Asset Trackers: How Smart Utilization Leads To Efficiency And Cuts On Costs

Posted on | by Victoria Gole | Leave a Comment on Asset Trackers: How Smart Utilization Leads To Efficiency And Cuts On Costs

Today, all businesses including fleets, are trying to rapidly improve their efficiency to cut down on costs and raise productivity. When addressing fleets, many times the asset utilization rate goes unnoticed, and this causes a lack in efficiency that can be avoided.

Smart Utilization

Ensuring that the usage of each asset is maximized but not going overboard is simply called ‘Smart Utilization’. There are several scenarios when assets just catch dust and don’t get utilized because there’s an excess of that asset, and vice versa with ones being over utilized. 

Fleets often overlook this strategy making it a critical strategy to review and implement. Doing so will allow fleets to expect to see visibility of finances, unnecessary costs and gaps in maintenance procedures.

 

What Is The Smart Utilization Strategy

If all assets are tracked based on their utilization rates, fleets can figure out which assets are being under and overused and make decisions accordingly. If assets are being underused, this means there’s an excess of the resource and it’s being wasted. If an asset is overused, this will create maintenance issues with it as it’s being used way too much and will be prone to breaking down. This will provide fleets with the information of how many assets they need to add or remove from their fleet for maximizing efficiency and staying within budget.

Key performance indicators for vehicles include days driven, drive time and mileage while key performance indicators for other assets include operation duration times and location tracking. Fleets can easily view these statistics from their telematics system online.

 

Smart Benefits of Smart Utilization 

By using a smart utilization strategy, fleets actually implement a smart cost management solution because they use all their resources to their maximum capability and get the highest return on investment.

With the additional data on the number of resources required, fleets can ensure there are enough resources to run at maximum efficiency to get the best results in the long run. Since all assets will now be properly used and no longer overused, they will have a long lifespan.

 

How Smart Utilization Can Be Beneficial

Utilization reports show which assets are hardly used or overused, or in downtime for maintenance or repair. Monitoring this activity will help fleets improve on replacement cycling and will also quickly point out areas of opportunity to re-deploy vehicles into other areas of the business. Consistently tagging, giving a title and insuring unused assets is expensive and renting would be a better business decision during surge times.

 

The Right Asset Tracker For Your Fleet

The benefits of smart utilization can be provided by most asset trackers, but each track excels in different situations. To determine which asset tracker a fleet would find most beneficial, let’s have a look at the different types of trackers available to take advantage of.

 

The Flex Solar-Making Use Of Free Energy

The Flex Solar is a solar powered asset tracker designed to track bulk cargo containers, vehicles and other large assets with no direct power supply. Solar energy is a great source of energy for large assets travelling far or being stored outside for long (like shipping containers) because they are often standalone assets with no power supply. 


The ZenRemora – A Simple Solution To Asset Tracking

The ZenRemora is a great alternative to the Flex Solar if you have to rely on an ion battery if solar energy is challenging to depend on. On top of general asset monitoring, it also has additional features including anti-theft mode, tamper detection, geo-fence awareness and expandability opportunities with Bluetooth Low Energy (BLE) beacons.

 

The ZenFalcon – Temperature Is Now A Known Variable

The ZenFalcon is a temperature-sensitive asset tracker allowing fleets to monitor temperature and humidity. Fleets can continually monitor these variables with the 5-year battery life and hourly reporting ZenFalcon has to offer. If ensuring that the goods/assets are in proper temperature and humidity conditions, the ZenFalcon should be taken into consideration.

 

The BlackBerry Radar – Prioritizing Load Management

The BlackBerry Radar focuses on asset tracking for cargo, vehicles and non-motorized assets like bulk containers, trailers and various equipment where content capacity has to primarily be monitored. Implementing this allows fleets to properly plan their loading process for improved efficiency. 

 

ZenBeacon – Asset Tracking Independent Of Cellular Coverage

The ZenBeacon provides data on light exposure, temperature, asset impact and provides an alternative to Radio Frequency Identity (RFID) tracking via BLE beacons. Designed to have a long battery life, this would be beneficial for assets traveling to locations with no cellular coverage.

 

The SmartOne’sC – Reliability Outside Of Cellular Coverage

The SmartOne’sC is a self-charging solution to support long term remote deployments without the need to replace the battery. Using a highly efficient solar cell, it can continuously charge the battery and maximize operating life, even under extreme weather conditions.

Using any of these trackers will shed light on what assets are truly being used, allowing for decisions about renting, selling and purchasing to be made. For example, if there are certain assets not being used enough to justify the purchase and upkeep costs, operators may decide to only rent the assets during peak times. In comparison, fleets who see some assets being overly depended on, will allow them to see whether they should consider renting or even purchasing additional assets to alleviate stress and maintenance requirements on the assets already deployed. 

All these trackers can determine the utilization rates of an asset, but they each excel at different things. Depending on what matches your fleet’s needs, that would be the asset tracker to learn more about. Improving utilization rates for each asset in a fleet will help financially and improve overall management in the long run. For further learning about the specifics and details of these trackers, contact us now.