Theft of Equipment a National Epidemic – Dude Where’s My Skidsteer?
Heavy equipment is a very attractive target for thieves despite of the size and logistical difficulties. There exists a high demand for specialized machinery on the black market resulting in heavy equipment theft becoming a multi-million dollar problem around the world. According to CBC News, across Canada the cost to the industry for heavy equipment theft is estimated at $46 million per year. Organized crime has moved onto building sites, CBC says, and as a result, stolen Canadian equipment and materials are ending up everywhere from Russia to the MiddleEast1.
Having the ability to trace the equipment location, as well as see and be notified immediately as to when equipment is being moved from its stationary position, is of paramount importance for the successful asset recovery. The sooner action can be taken to recover the asset that has left its intended location, the less time is available for the thief to remove or alter identification from the equipment, or dismantle the equipment for disposal as replacement parts. In 2010, equipment worth over $900,000 was seized from a location in Edmonton, Alberta. This was made possible after an owner of a paving company used a GPS locator to trace a stolen skid steer. By tagging construction equipment with the traceable GPS unit, the contractor can be immediately notified if the equipment has been moved from its intended location (geo fencing) as well as gaining a visual location to where the equipment is being moved. This results in an immediate solution for the quick recovery of an asset before tampering, dis-assembly or removal of the tracking device can occur.
Further to the above, telematics devices can also be used to locate misplaced assets. The inability to locate where assets are can lead to a significant number of man hours spent by field personnel tracking and locating the assets. Field personnel may also run the risk of ordering too much equipment to address the immediate operational needs because of the inability to locate similar equipment on site. All these result in additional capital expenditure for the organization. The use of a GPS tracking system enables field personnel to track equipment efficiently and also maintain an accurate inventory of assets. Operating heavy equipment beyond specified limits can also increase wear and tear on the equipment and increase maintenance costs. The use of GPS tracking systems can help carry out preventative maintenance by tracking engine usage hours and service reminder alerts thereby increasing the longevity of equipment. This in turn helps reduce operational costs and increase the efficiency and utilization of equipment on site.
Start your optimization journey today by contacting Storm Telematics and we will assist you in identifying the correct solution for securing and optimizing your construction assets. You may access our Online Calendar to schedule a lunch (on us) or a conference call, as we remain on standby to deliver quantifiable value to your organization. 877-309-8354