Any construction business will say that for projects to get completed on time requires that assets are on the ground, powered up and ready to go. The larger the construction company the more complex the logistics needed to manage millions of dollars of assets – including power tools and safety gear to large earth movers. Without asset tracking, equipment can be sent to the wrong project, get left behind or even stolen. Fortunately, asset tracking software like GoCodes Asset Tracking provides an easy way to track and manage those assets. GoCodes Asset Tracking also comes with a variety of rugged trackers to help construction businesses reduce asset loss by up to 90% and support chain of custody, preventive maintenance and lifecycle maintenance.
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The Need for GoCodes Asset Tracking Asset Tracking
The construction industry operates on tight margins, strict deadlines, and complex logistics. At any given moment, a general contractor might manage millions of dollars in assets.Using GoCodes Asset Tracking enables construction businesses to significantly reduce or eliminate the following issues:
- Equipment Theft and Loss: The National Equipment Register (NER), state that stolen or missing equipment tool and equipment account up to $1 billion annually in loss. Unfortunately, small tools go missing more often because they are easier to steal or misplace. An example of this highlighted by the city of Howard County Maryland, could be seen in 2024 when “15,000 stolen construction tools (were recovered by Police) in what is believed to be one of the largest and most expansive theft cases in the region in recent years.” That haul was worth between 3-5 million dollars. (Police Announce Major Case Involving the Recovery of Stolen Construction Tools).
- Ghost Assets: “Ghost assets “are assets that are lost, stolen, or broken but still exist on the accounting books. A construction business will frequently pay taxes and insurance on them.
- Costly Downtime: Project stalls are costly and can occur when construction teams cannot find the equipment they need, forcing them to down tools until the problem has been resolved (either the equipment is found or new equipment is bought.) Unplanned downtime rates “in the range of 20–30 percent” are considered normal for the construction industry according to Equipment Management with a failure to implement preventive maintenance as the central cause.
- Premature Equipment Failure: Preventative maintenance cannot easily be achieved without a cloudbased tracking system like GoCodes Asset Tracking. Using spreadsheets or paper logs is slow to implement and often tedious. Information is slow to update and errors can occur.
How GoCodes Asset Tracking Transforms Construction Asset Tracking
GoCodes Asset Tracking combines cloud software, mobile applications, patented rugged tracking tags and other trackers like GPS real time, Bluetooth beacons and RFID tags into a unified system. Field teams scan the QR code to check in and out and update information using their mobile device.
1. Patented Rugged QR Code Tags Built for the Jobsite
GoCodes Asset Tracking patented QR codes are high-durability tags engineered for construction. These come in a range of sizes and specs:
- Metal Foil and Polycarbonate Tags: Designed to resist extreme temperatures, abrasion, chemicals, and weather.
- Flexible Industrial Adhesives: Formulated to stick permanently to curved, textured metal or plastic tool surfaces.
- Hardened Riveted Tags: Can be mechanically fastened to heavy machinery, trailers, and attachments.
2. Smartphone-Based Scanning and Cloud Accessibility
GoCodes Asset Tracking’ smartphone scanning is quick and easy to use and comes with a work offline mode for teams out in the field without connectivity:
- BYOD (Bring Your Own Device): Your team simply downloads the GoCodes Asset Tracking app onto their existing iOS or Android smartphones.
- Instant Updates: Once QR code has been scanned, the team will see the asset’s profile, allowing them to check it out, update its status, or report a defect in real time.
- Centralized Cloud Database: Once synced, the team has a permanent, transparent history showing who has what asset and where.
3. Streamlined Check-In/Check-Out Accountability
GoCodes Asset Tracking enables check in and out ensures accountability. In an instant you have exact information of where the asset is and with whom that’s mapped. This permanent history ensures that teams are kept accountable, preventing tool loss. Team members can:
- Scan a tool to assign it to themselves or a specific jobsite.
- Receive notifications when tools are overdue for return.
- When employees know their name is digitally tied to a piece of equipment, care increases and “shrinkage” plummets.
4. Preventive Maintenance Schedules and Safety Compliance
Preventive maintenance keeps equipment conditioned and ready to go, reducing unplanned downtime and ensuring tools are safe to handle.
- Automated Reminders: GoCodes Asset Tracking enables you to set up recurring maintenance tasks based on calendar dates or equipment runtime hours.
- Digital Service Logs: Easily log service completions, attach digital receipts, and upload photos of completed repairs for proof of work.
- Safety Compliance: You can now ensure ladders, harnesses, and rigging equipment undergo mandatory safety inspections before being deployed to the field.
Quantifiable Benefits: What Construction Companies Gain
Using GoCodes Asset Tracking, a construction company can achieve a focused operation with clear chain of custody, a preventive maintenance process and easy check in and out.
Reduced Capital Expenditures (CapEx)
By eliminating ghost assets and curbing tool loss, companies gain immediate bottom line wins as they eliminate the cost of replacing missing tools and the costs that come with project stalls, when tools cannot be found.
Maximized Labor Efficiency
Teams spend unexpected hours looking for missing tools. GoCodes Asset Tracking gives teams their time back, with an efficient process that means they have an up to date account of where everything is at all times.
Bulletproof Auditing and Financial Reporting
For accurate depreciation calculations, tax reporting, and insurance claims, companies must know what assets they own and what they are worth. GoCodes Asset Tracking stores purchase dates, initial costs, depreciation schedules, and warranty details, to ensure audits are always accurate.
Conclusion: Future-Proofing Your Construction Business
In an era of rising material costs and labor shortages, operational efficiency is the ultimate competitive advantage. Construction companies can no longer afford the financial leakage caused by disorganized asset management.
GoCodes Asset Tracking delivers a highly sophisticated yet remarkably simple solution. By pairing durable, physical identification tags or GoCodes Asset Tracking trackers like Real Time, Bluetooth and RFID with the smartphones your workers already carry, GoCodes Asset Tracking removes the friction from asset tracking. The result is total visibility, absolute accountability, massive efficiency and a robust bottom line.
