June 2023CONSTRUCTIONBUSINESSREVIEW.COM9servicing heavily used equipment or over-servicing equipment used less often does not happen.Preventive maintenance is critical, but it may slip through the cracks if companies do not have a system that reminds them. Total control, for example, can provide service alerts to help stay on top of maintenance even when equipment teams are overwhelmed with other tasks.Foil thieves and unauthorized users.Equipment theft is a major issue on construction sites, and recovery rates are low. Construction equipment telematics changes the equation in favor of owners.With the help of telematics devices, a good fleet management system lets contractors draw geofences - virtually boundaries - around equipment and configure geofence alerts that tell them the minute a piece of equipment enters or exits the geofence. These real-time alerts can help companies foil thieves who sneak onto the construction site at night to steal equipment. They can also prevent Every hour per dollar saved improves a construction firm's outlook in today's increasingly competitive construction environment. Telematics devices, in tandem with fleet management software, can help owners stretch their fleet's value, make their equipment more productive and stay profitablesubcontractors and workers who may be looking to "borrow" the equipment for other projects.The sooner a contractor knows about possible theft, the greater the odds of recovering the equipment and avoiding the expense and downtime related to stolen assets.Measure and optimize utilization.How hard is that reach forklift, mini excavator or ride-on roller working at a jobsite? The more a piece of equipment is utilized, the less it costs per hour of use.Utilization reports generated by fleet management software, enabled by telematics devices, provide valuable insights into usage trends for each piece or class of equipment.This information can help a contractor right-size its fleet. If an excavator is rarely sitting still, that is a sign a company may need to buy or rent another one. If a boom lift is used only occasionally, a contractor may be better off selling it and renting one when needed.Utilization data can also help contractors even out wear across a fleet. If one truck is used constantly while others have not moved in days or weeks, a company may want to rotate those others in to reduce maintenance demands and associated costs.Create a data-based lifecycle plan.Even well-maintained equipment does not last forever. Knowing a machine's utilization and maintenance history may help a contractor determine when the best time is to sell it. A company may want to sell equipment before the maintenance and repair costs increase while the machine retains some of its residual value.Building a data-based lifecycle plan that allows contractors to sell at the right time may help lower the total cost of ownership and preserve the capital that can be spent elsewhere.Build an accurate budget.With data from telematics devices, owners can build more accurate budgets for both equipment purchases and equipment operations. Tracking utilization, maintenance costs and fuel usage, which a telematics device can monitor, on every project helps companies more accurately predict costs for the next project.Telematics data from owned equipment can also provide clues as to why budgets veer off course. Did equipment-related downtime impact the project schedule? Did the fuel burn higher than expected? More control over spending means more control over the business and its future.In today's increasingly competitive construction environment, every hour and every dollar saved improves a construction firm's outlook. Telematics devices, in tandem with fleet management software, can help owners stretch their fleet's value, make their equipment more productive and stay profitable.Author BiographyChristina Andrews has been with United Rentals for over six years, working primarily on customer communications and sharing the United Rentals story.
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