Tracking non-powered assets doesn’t necessarily suggest a relationship with saving money, but looking into some of the extended benefits you can achieve, there are some notable cost saving measures you should take into consideration.

• Self-Insuring – Self-insuring is something you can read about in greater detail on our other article. But the premise of self-insuring is to replace traditional insurance through a third party to protect assets in the case of theft and instead offset the risk of theft and improve recovery through tracking of these assets. For mission critical non-powered assets, this can reduce operational costs – especially in times where a specific asset or piece of plant is required that isn’t quickly replaceable (and where traditional insurance can fall-down).
• Time Costs – Locating non-powered assets can become a time consuming and inefficient process to undertake. If assets aren’t left in the same place regularly, or if they are moved without authorisation time can easily be wasted trying to locate the asset. With tracking, even if an asset is moved, it’s latest position is always known, minimising disruptions to day-to-day operations.

Time and efficiencies in locating assets is costly. Not just from a financial perspective, but also from an operational standpoint. The time taken to locate your non-powered assets can lead to delays in completing projects, lead to the requirement for additional staffing to complete projects and additional administration commitments that could otherwise be avoided.