By 2024, the global asset tracking market is projected to reach USD32 billion at a compound annual growth rate of 14.9%. As supply chains become increasingly complex and the nature of worldwide trade more interconnected, businesses and organisations have sought to maximise the security of their supply chains through various technologies such as global positioning system (GPS) trackers.
GPS asset trackers have a diverse range of applications, able to track the movement of assets such as retail products and even personal luggage, whether domestically or internationally. And technological advances have helped produce smaller, more durable and easier-to-install systems. FindMe’s small-range asset trackers, for example, can last for up to 25 days on a single charge and is paired with a customisable data platform.
Through an integrated and convenient dashboard, businesses can not only track the real-time location of critical assets, but also aggregate data to produce analytical reports and schedule tasks related to individual assets. An additional upside to GPS asset trackers is that they utilise satellite technology, so that businesses can keep an eye on their assets virtually anywhere in the world without having to worry about Internet coverage.
The results save businesses both time and money.
For one, retail companies can anticipate delivery times to their customers and deliver back-up assets in the event of unexpected and permanent disruptions along the supply chain. Additionally, if recalls need to be made concerning batches of products that are contained within whole cargo crates, they can be done so and replaced efficiently, minimising profit loss and operational disruptions.
Their scope can also be extended for construction companies, whereby businesses can schedule when certain equipment can be used and if they need to be moved off site. Different cities and constituencies around the world enforce strict municipal codes that limit construction hours to certain times in the day to avoid noise disruptions to residents—companies can avoid both costly penalties and legal recourse from residents by using GPS asset trackers.
Additionally, companies that rent out assets can monitor their location are able to crosscheck the amount of time they’re used for billing purposes, avoiding unnecessary financial disputes. GPS platforms also allow for customisable scheduled notifications, so that businesses can streamline operations and focus on other aspects of their business.
Investing in GPS asset trackers will help take your business to greater heights and expand its operational capacities. Start now by exploring FindMe’s range of GPS asset trackers.