In my experience, business owners in the construction industry all have issues with theft prevention. If you find yourself in this position, know you are not alone. Having your tools and equipment “walk away” from a job site or yard can be very discerning. Not only does it cause a loss of trust in your employees, but the monetary loss associated can increase exponentially if the issue is not dealt with. Modern asset management systems offer best practices and ways to help abate this problem.
1. Inventory Assets in a Central Place
Implementing an asset management system requires contractors to collect and account for all of their inventory as it needs to be uploaded into the system for management. This practice alone is an important step in abating theft: you can’t prevent theft of items you didn’t even know you had. Managing assets in a single system is a best practice for providing visibility over what assets you have and where they are.
2. Build Accountability
Asset management systems build user accountability. Not all trackers are automated, therefore enforcing best practices with your employees and transferring the responsibility for assets and equipment will help build accountability. A simple scan out in the morning and scan in at the end of the day will help you as a business owner know who had hands on the asset last. With this information you will be able to hold those individuals responsible and make sure all of your valued assets are accounted for. Sharing best practices with your employees can significantly decrease the amount of theft your company is experiencing while helping you get a better grasp on your inventory.
3. Create Geofences
Construction companies can manage theft prevention by creating custom geo-fence boundaries around their project sites. A geo-fence is a virtual barrier you set around a specific location on a map that alerts contractors when assets are entering and exiting those boundaries. So, if your skid steer decides to “walk off” in the middle of the night you will receive a text message and email alerting you of the activity. This is most effective when utilizing Bluetooth and cellular GPS technology as they are autonomous tracking solutions.
The construction industry is changing rapidly and turning to technology to help track and manage valued assets and equipment. With the Tenna system, the ability to create custom geofences and the enforcement of best practices among your employees you can help decrease the amount of theft which occurs in your company. Book a Demo today to cut your losses and Find More® with Tenna.