Businesses must follow preventative measures when managing their inventory and assets. Putting practices in play to prevent financial losses could prevent the company from facing higher insurance payments, and they could avoid poor quality assurance reports. When assessing risks, companies need a careful plan for managing theft and preventing the loss of their inventory and business assets. Using tracking devices helps the company find the location of key items and get details about their inventory. Each of these options could help them streamline their business and protect their assets more proactively.
Lowering the Risk of Theft
Using real-time asset tracking devices lowers the risk of theft. Applying RFID chips onto merchandise will trigger the security panels at the front of the building, and it gives workers time to determine if the customer was trying to steal items from the store. As soon as the individual walks through the security panel it detects the chips, and the alarms are triggered. Businesses use the devices to stop shoplifters and prevent them from getting away. Companies get help at Particle and discover what asset tracking devices are most beneficial for them.
Controlling Insurance Premiums
Better asset management helps companies such as retail stores maintain lower-than-average insurance premiums. If they track their assets properly, the business could prevent insurance claims for theft or inventory losses. If they follow preventative measures, the company pays less for their insurance and won’t have to file as many claims for their financial losses. Using real-time asset management devices helps the company avoid serious risks and keeps their organization operating efficiently.
Maintaining Your Inventory Proactively
Asset tracking devices update the database and provide information about each product. Once the product is sold, the number of the items the store has in stock updates. The details help the businesses monitor their products and determine if any items were stolen. If they maintain accurate inventory data, the company won’t have to complete manual inventory tracking. The company completes these tasks electronically and saves time and money. If they use RFID chips, the cashiers disengage the chips when the items are sold.
Collecting Information About Your Products
RFID chips and barcodes allow the company to collect information about the products and determine when to reduce prices or to reorder the items. When reviewing the inventory details, the store owner knows when to replenish products and discontinue products that aren’t selling quickly.
When adding the products to the inventory, the store workers scan a barcode and add the product to the database. As each shipment comes in, the workers scan the barcodes to get the product description and price, and they complete a total count of all the products that arrive. The workers use handheld devices that read the barcodes.
Better Tracking Options for Shipments
GPS tracking helps businesses and their clients determine where their shipments are right now. The devices show the exact location of the commercial vehicles and help the company provide immediate updates for the clients. They can also determine when the shipments will arrive at the client’s location.
Using the tracking devices makes it easier to route the trucks and help them change routes when unexpected conditions arise. The managers can update the driver’s route remotely and guide them to a safer location. The options lower risks for the business owners, and they won’t have to worry about their drivers getting lost and taking up too much time with their current delivery.
Locating Assets for Maintenance Requirements
Business owners track assets such as their equipment, vehicles, and machinery. Whenever these items are in an off-site workplace, the business can locate them and reacquire the items when they need to complete maintenance tasks. This is highly beneficial for fleet owners with a larger collection of fleet trucks they must maintain. They can inform the drivers when they receive alerts about their maintenance tasks.
It’s a better way to keep the trucks maintained at all times. Proper maintenance prevents the trucks from breaking down unexpectedly and leaving the drivers stranded on the side of the road. They can track the location of the trucks and send repair services as needed, too.
Knowing the Location of Their Vehicles
Companies that use commercial vehicles for deliveries and going to client locations need proper tracking options for the vehicles. They can install GPS tracking devices into the vehicles and determine where the vehicles are at all times. It’s a great opportunity to establish if drivers are using the vehicles for work purposes, or if they are driving into areas where they aren’t allowed to go. The company can hold the drivers accountable and evaluate their drivers for compliance with company policies and federal regulations.
Computerizing Inventory-Related Tasks
Using barcodes and RFID chips gives companies a chance to computerized their inventory-related tasks. Instead of updating the inventory manually, the workers can use the devices to enter the products into the database and use the barcodes to update their inventory with every sale. The company won’t have to spend several hours conducting inventory for each department. Their workers can use handheld devices that read the barcodes to track products in the database. If they enter accurate counts for the products and ensures that items aren’t missing and weren’t stolen. These options ensure a more accurate inventory and prevent the company from losing items or suffering financial losses.
Business owners need real-time asset management to track all the products in their stores. They can also use the options to prevent theft and determine if it is time to reorder supplies or top-selling products. The devices provide updated information about their inventory, and the business can track assets such as equipment they use frequently. They can monitor maintenance services for fleet trucks and commercial vehicles. Tracking devices show the owner where these items are at all times, and they can contact the worker that is using the vehicle or equipment when scheduling maintenance tasks. Companies review all the great benefits of real-time asset management and discover how to improve their operations.