Why do you need asset management software in the construction industry?

01 October 2019

Why do you need asset management software in the construction industry?

In the rail and construction sector, it can be a challenge to manage projects safely, within budget and on time. Making sure that equipment is fully utilised and available when needed is crucial in meeting tight deadlines and completing projects efficiently. However, in practice, this is actually a very difficult task without the right software solution in place to help you. 

Did you know 20-30% of time is lost in construction projects due to equipment simply not being in the right place?

A mix of unauthorised usage, misplaced equipment and theft, all result in difficulties sourcing the right assets when you need them. No matter what the reason for not having your equipment in the right place at the right time, an asset management solution can help you to keep track of when and where your equipment was last allocated. With this valuable information to hand, plant managers can hold the right people accountable for missing equipment and get their assets back to where they need to be as quickly as possible. 

Did you know that the average piece of construction equipment is only used for 50-80% of its potential working time?

It is not just misplaced or lost equipment that can hinder productivity in the rail and construction sector. Often, equipment can be allocated to a site but actually be sitting idle rather than in use. With no clear way for a plant manager to know if equipment is being utilised or not, assets can end up being re-hired rather than making the most out of their own inventory. 

An asset management software solution can not only tell a plant manager where their equipment is, but with an integrated telematics solution they can also see all of the relevant data about that asset’s usage. This includes active working hours, asset movements, odometer reports and scheduled maintenance. With all of this knowledge to hand, you are able to make informed decisions and manage your inventory with ease, so that your operation can run as efficiently and smoothly as possible. 

Did you know there are roughly 150,000 construction site accident injuries each year?

Keeping track of your maintenance program is crucial in order to prevent project delays from unexpected downtime. However you choose to run your maintenance program, whether this is at service intervals, on return from a job, before a job or when your equipment reaches a specific milestone, you can set up reminders to prompt you to take action.

With your equipment always safe and ready for use, you can help to keep your workers safe and reduce the number of on-site injuries due to equipment faults. With this foresight, your equipment will also always be ready for use and you can plan ahead for when you’ll need to rehire equipment to keep up with project milestones. 

If you’d like to know more about the benefits of a software solution for the rail and construction industry, read our useful guide to asset management software or get in touch with one of our friendly team to find out more.

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