When you are in a field service business, it is crucial to know the whereabouts of your assets and ensure they are being utilized to their capacity and in the right way. Whether in the HVAC business, electrical, or any other service business, you need effective tracking of physical assets. It encompasses analyzing data like runtime, location, work order, and downtime. When done correctly, asset tracking in field service helps gather data that saves time and money, making your company more profitable. The following are the top six practical tips for asset tracking.
- Create a List of Your Assets
Before anything else, it is crucial to know all your assets for easier tracking. Therefore, you will need to create a list of the machine, vehicles, equipment, and other assets that technicians use in the field. Knowing what you have will make it easy to understand what to track. You can check the runtime, downtime, location, etc., to see your equipment’s condition and usability.
- Use Asset Tracking Software
The perfect way to track field assets is by using the software. The benefits of monitoring your assets multiply when you use the software in your business. Field service management software is best because it does more than just track equipment location. It also collects usage, internal communication, runtime, and downtime data. It also tracks things like work orders, repair requests, spare parts inventory, etc. this gives you complete information on the condition of your assets and how they are being utilized in the field.
- Manage Asset Lifecycle
Another way of tracking assets successfully is by managing their lifecycle. Assets have different lifecycles based on various factors, from design to usage and maintenance. Therefore, through managing the asset lifecycle, it is easy to know the most effective assets, those being used frequently, and the assets that require replacement soon. The lifecycle of an asset can also help you understand how much money it is making compared to its cost.
- Assign Numbers
Make it easy to track your equipment by assigning numbers. Using codes to identify specific machines eliminates confusion and makes tracking easier. You can set a QR code, tracker, RFID, or just a number. This way, it is easy to tell assets apart and analyze data collected for a specific number.
- Identify Critical Assets
Critical assets are those assets with the most impact on your business. The pieces of equipment can cause significant interruption to your production should they break down unexpectedly. These assets should be at the top of your list of priorities. Before you track other assets, make sure you begin with the most vital ones.
- Understand Your Company Needs
Businesses are not equal, and each has its unique needs. Even as you deliver similar services like any other business in field service, you ought to understand that what works for someone else may not work for you. Therefore, before you start tracking your assets or purchasing field service management software, understand your company’s needs. Know your priorities and what interests you most.
Asset tracking is an essential aspect of your business. It helps you know how many assets you own, their location, and their usage. It also makes it easy to maintain them properly to boost their performance and extend their lifespans. Field service management software makes it easy to know how assets are utilized. It also prevents theft and misplacement.