There is no doubt that GPS tracking is extremely beneficial for tracking the movements and activities of fleet vehicles and drivers. From 2022 statistics it was found that, by using fleet tracking software, fleets reported a 55% reduction in fuel costs and 42% saw fewer safety incidents. On top of that, 62% of fleet tracking users reported a positive ROI, showing how worthwhile an investment in tracking technology can be.
But have you thought of extending your current tracking capabilities to your non-vehicle assets, specifically trailers? There are a variety of options, both wired and wireless, available for tracking these types of assets. If you’re not yet convinced that it’s worth the investment, let’s take a look at some of the benefits you can derive from trailer tracking:
1. Theft and misuse prevention
Thefts related to cargo is on the rise. For example, according to CargoNet, cargo theft in the United States alone increased from 797 in 2019 to 1,059 in 2020. Having a trailer tracking device implemented can not only help to deter thieves but can also assist in recovering a trailer if it does go missing.
In addition, trailer tracking solutions offer geofencing features. Geofencing allows you to set virtual boundaries within which your vehicles and assets are allowed to operate. As soon as a trailer enters or exits a particular location without authorization, you are immediately notified so that it can be investigated.
Many trailer tracking solutions, including MiX Asset Manager, automatically keep an electronic registry of all assets being tracked. This type of registry includes information about the trailer itself (such as make and model), their status and their current whereabouts. When a routine physical audit is done, tracking makes it easier to verify the existence of all the assets listed on your balance sheet. Companies that fail to track assets like trailers often risk losing out on money on an annual basis.
3. Event tracking
Trailer tracking devices provide the opportunity for you to get notified of events that occur inside the trailer such as “door open” or “door close” instances. Trailers carrying temperature-sensitive cargo especially benefit from this, as any change in temperature can trigger an alert, ensuring that your driver or you can act in time to avoid cargo getting spoiled. Even notifications on driving events, such as harsh cornering, can be helpful as aggressive driving has the potential to damage the cargo inside a trailer.
If you manage a large number of trailers and operate in a variety of locations, it’s not always easy to locate where a particular vehicle or asset is. With tracking software, you can see exactly where a trailer is at any given moment by seeing its exact location on a map. You can also see where trailers have traveled before with historical tracking records.
Utilization is a very important metric to track as it informs you whether the assets you currently own are being used to their full capacity, and whether there are any assets that are no longer needed because they are not being used as often as they should be. For example, when a trailer has not moved from a particular location for a long time, this tells you that it’s being underutilized. This will help you decide whether you can reassign the trailer to an area where it can be better used, or whether to get rid of it by either selling it or renting it out to save on the costs of keeping an asset that does not contribute to or improve your fleet’s operational efficiency.