Whether you raise organic vegetables or organic grass-fed beef, being able to meticulously track your assets can save you time and money – and a lot of it. Here are some of the reasons why asset tracking, including inventory management and GPS tracking, can benefit farmers.
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#1 – Equipment Theft Is a Problem
Equipment theft is a huge problem in both construction and agriculture, particularly among those businesses that employ seasonal employees for planting or harvesting. In fact, the National Insurance Crime Bureau estimates that equipment theft in either industry tops out at well over $1 billion each year. With proper asset tracking tools, you can prevent the theft of your equipment. Many of the labels used to help track inventory contain GPS devices that you can track u sing nothing more than your smartphone. All you must do is access the app and you’ll be able to locate any piece of equipment you own.
#2 – You Can Extend the Life of Your Equipment
Many of the machines used on farms every day cost well over a million dollars, so it only makes sense that you’d want to maintain them and keep them running optimally for as long as possible. With a simple QR code placed on each piece of equipment, a simple scan will tell you how long it’s been since that equipment was maintained or serviced. You can even connect those scans to software that will help you automate the service request process to a degree, freeing up more of your time to run your farm as efficiently and effectively as you can.
#3 – You Can Make Filing Taxes Simpler
When you have to buy and maintain expensive farm equipment, it’s important to keep close track of that equipment’s value to avoid overpaying when it comes to taxes. Fortunately, this is another piece of information you can access with a QR code. Simple software calculates your equipment’s value based on purchase price and depreciation, which makes things much simpler for you or your accountant when it comes time to file your taxes at the end of the year. This software also helps calculate values for all your equipment, which can provide you with a total value.
#4 – You’ll Always be Aware of Your Inventory
No matter what you farm, knowing how much inventory you have is important to your bottom line. For example, if you farm organic soybeans, you’ll profit per bushel you sell. When you can scan a QR code and figure out how many bushels you’ve sold and how many you have left to sell, estimating your bottom line has never been simpler. This information feeds seamlessly into bookkeeping software, reducing the amount of effort you have to put in. You can also use it to run reports, compare harvests from year to year, and much more.
Farming is a hard job, but the good news is that there are plenty of products and tools that can make it easier for you. QR codes and smartphones offer up an affordable, easy-to-use way to manage everything from your inventory to your equipment, and it’s simple to implement it into your farm.
