Industry Trends in Construction Asset Management

When it comes to managing valuable assets in the construction industry, especially trailered construction equipment, there is a lot of money involved in an asset built for mobility. The question is what is the most efficient way to track it? Especially when contractors have a wide and varied range of equipment, brands, and models mixed into their inventory. Thankfully, technology is paving the way to enhanced efficiency and security.

One revolutionary tool that stands out is GPS for construction equipment tracking. But what exactly is this, and how does it contribute to the productive operation of a construction company?

GPS or Global Positioning System, initially developed for navigation and map-making, has found wide-ranging uses outside its initial design, particularly in industries that require a high level of organization and control over multiple, expensive, and mobile assets – like construction. GPS tracking is a system that uses a network of 24 satellites orbiting Earth to provide real-time location data about specific assets, such as heavy machinery, fleet vehicles, and even non-powered equipment on a construction site. From the smallest tools to the largest cranes, nothing is off-list when it comes to GPS tracking.

Green and black Infographic for NatCap about what effective asset management tracks in construction

How it Works: Translating GPS Data into Proper Asset Management

At its core, a GPS tracking system is made up of three key components:

  1. The GPS tracker
  2. The cloud-based platform
  3. The GPS satellite network

The GPS tracker, directly installed on the construction asset, communicates with satellites to identify its precise geographical coordinates.

What makes this system powerful when it comes to construction asset management software is its ability to give meaning to this data. Here is where the cloud-based platform comes into play.

This cloud-based platform collects the raw GPS data and translates it into understandable asset information. It effectively visualizes the real-time location data of your construction assets, and in some digital technologies, even provides patterns of equipment usage, presenting you with insightful real-time information.

But, that’s not all. GPS tracking systems come with mobile app capabilities, allowing construction managers to access this valuable database anytime, anywhere. This real-time information not only keeps them on the pulse of all operations, providing for quick decision-making but also reduces the time spent physically monitoring the job site.

From tracking single-platform heavy equipment to overseeing fleets of construction vehicles, and understanding equipment usage to unexpected situations like unauthorized usage or theft – GPS data helps create a comprehensive picture. Thus, GPS tracking for construction equipment transforms from a cool piece of tech to an essential tool, giving construction managers control and clarity over their assets like never before.

Graphic of GPS with a impact notification for an attenuator

The Importance and Benefits of GPS Tracking for Construction Equipment: The Competitive Edge

When you’re in an industry as robust and dynamic as construction, every bit of a competitive edge matters. The adoption of GPS tracking for construction equipment has steadily been gaining momentum as operators and asset managers realize its potential. But what exactly will your construction company gain from integrating GPS tracking?

Real-Time Fleet Tracking

A construction site is complex, and construction assets—be it heavy equipment, non-powered assets, or fleet vehicles—are constantly on the move. Being able to track these assets in real-time is essential. GPS tracking not only provides you the real-time data on equipment location but also enables an understanding of equipment usage patterns. This level of full visibility can significantly reduce the occurrence of unauthorized usage and misplacement of valuable construction assets.

Improved Operational Efficiency

Construction companies are under constant pressure to deliver projects on time and within budget, making operational efficiency critical. GPS tracking helps streamline operations on the construction site. By providing details like engine hours and precise location data, the system allows project managers to optimize equipment utilization, eliminate idle time, and plan routine maintenance schedules effectively, minimizing unplanned downtime.

Asset Protection

Construction vehicle handling isn’t a minor investment; therefore, prolonging the life of these vehicles is a common shared goal. By offering insights into operating conditions, and preventive maintenance notifications, GPS can help construction managers extend the asset lifecycle of their equipment. Moreover, GPS tracking systems can monitor construction asset health, reducing unnecessary wear and tear, thereby cutting repair costs and optimizing asset potential.

GPS tracking can boost profitability, providing your construction company with that essential competitive edge. 

Wanco asset tracker GPS view

Wanco Asset Tracker

The Wanco Asset Tracker helps construction industry professionals manage their non-powered equipment and fleet vehicles more efficiently.

This tool is designed specifically for managing “dumb” or non-powered assets like light towers, arrow boards, concrete mixers, and more. These types of construction assets might seem less significant than heavy construction equipment, but their management is no less crucial.

The Wanco Asset Tracker provides the precise GPS location and location history of these assets through the Wanco Fleet Manager online platform. It computes vital and accurate information such as battery voltage and engine hours for most brands. An additional feature is that it stores up to 50 locations and can provide email or text notifications, giving you extra control and peace of mind over your non-powered assets.

Wanco Fleet Manager

For more complex battery-powered equipment such as message boards, speed display trailers, and camera trailers, not only are these tools more expensive than the ones mentioned above, but they are also much more sophisticated. At NatCap, we use a modem connected to the Wanco Fleet Manager platform.

The modem gives managers all the features of the Asset Tracker but with added operability to the features. Once an asset is properly deployed, there is no reason to return it unless it needs service, or the construction project is over. This level of off-site control over the assets requires fewer man hours on site and decreases the risk of accidents or injury. If your asset is capable of it, and your budget permits, there is no reason you should not incorporate this level of control and accuracy of operation into your fleet.

Trafix sentinel impact tracker

Sentinel Impact Tracker

For physical assets that are not battery-powered such as a ground or vehicle-mounted attenuator, the Wanco Tracker will not be compatible. Rather than operation or battery status, the Sentinel Impact Tracker from Traffix Devices lets managers know if their equipment was struck by a vehicle, and to what degree the device is impacted.

The accelerometer feature of The Sentinel Impact Tracker can indicate the degree of potential impact. This tracker is linked to the Sentinel online platform which provides users with a dashboard and a host of features to help manage assets all in a single platform.

Incorporating impact tracking or GPS equipment into your construction equipment management strategy is one thing, but selecting the right partner to guide you through the process is another. This is where National Capital Industries can help.

Engineer and contractor join hands after signing contract,They are having a modern building project together. successful cooperation concept in sun light

Choose National Capital Industries for Exceptional Value and Expertise

After taking a comprehensive exploration of the world of construction software solutions, we believe that the ultimate value lies in the power of partnership and National Capital Industries is a company that does more than just offer GPS tracking solutions.

National Capital Industries, with over 60 years of knowledge and experience, is your ideal partner in navigating the complex landscape of construction asset management tools. Centered around our mission to improve work safety and efficiency throughout The United States, we don’t just sell and rent equipment; we provide tools that revolutionize how your business operates.

Through services like the Wanco Asset Tracker and Fleet Manager, we equip you with the most advanced tools to manage your construction assets. Whether you need to track your non-powered equipment or heavy construction assets, National Capital Industries delivers the precise location data and key engine hours metrics that you need.

In partnering with National Capital Industries, you’re not only investing in top-tier GPS tracking and asset management solutions; you’re also gaining the expertise and support of an industry leader. We’re committed to helping you harness your assets’ fullest potential, mitigate risks, and ultimately, optimize your bottom line.

Trust in GPS tracking, trust in asset management, and trust in National Capital Industries – ensuring your construction business’s success is our number one priority.

If this is of any interest, contact our sales team to discuss renting one of our assets with these new technologies available, or us installing some in the equipment you already own.