What is Consignment and Asset Tracking?

What is Consignment and Asset Tracking?

The world is getting digital. For the trucking and shipping industry, automating consignment and asset tracking with GPS tracking software is the way to fit into the future.

The e-commerce industry alone is growing at a rate of 24.5%. Therefore, it is time for businesses to ride the digital wave by automating their operations with software aid. Gone are the days when managers had to guess where their vehicles and consignment are. 

Technological help with fleet management software systems has eased asset tracking. Are you wondering how? Let us learn in this blog! 

What is Consignment and Asset Tracking? 

As a fleet or consignment manager, are you worried about the whereabouts of your assets such as vehicles and consignment? Well, it is natural to feel that way because you have a lot of money riding on them! 

This is where consignment and asset tracking come into play. They use technology to keep you posted about where your assets are in real-time. 

Live tracking systems generally work from GPS tracking software. This software uses GPS systems and a GNSS network to keep track of everything in your fleet. Once you have the right hardware and software integration, you will be able to track where your vehicles are, and hence, consignment is. 

Using these tracking systems is not only important because they keep you locationally posted. They are also important for factors such as safety, operational streamlining, and profit maximization. 

Can You Improve Profits With Real-Time Tracking? 

It is profits that make or break your business operations. After all, without profits, how will you have the drive and recurring capital to move forward? Therefore, every investment you do make should be towards increasing your business profitability. 

Investing in fleet management software for real-time tracking can increase profitability by:

  • Reducing admin time: Checking software for locational information is much more time-efficient than taking updates from drivers. You can use this time in more productive ways that will actually help increase profits in your business. 
  • Improved planning: With the data you get by asset tracking, you will be able to improve and streamline planning for your fleet. By forming fleet-centric plans instead of implementing general practices, you are sure to increase your business profitability by tackling specific problems. 
  • Reduced idling: Vehicle idling is a huge issue when it comes to time and fuel consumption. With consignment and asset tracking software, you can monitor and reduce idling and increase profits through higher savings. 

Can Consignment and Asset Tracking Improve Safety? 

How Does Real-time Tracking Increase Fleet Safety

Knowing that your consignment and assets are safe in real-time is the best way to feel secure about your operations. Any form of theft, especially for specific industries can be a massive issue due to monetary and security reasons. Here are some ways consignment and asset tracking help increase the safety factor in your fleet:

  • Immobilization: With a good fleet management system, you can track your consignment in real-time while also having the control to immobilize vehicles when needed. Your consignment is safe when you have control over stopping your vehicles in case of a threat. 
  • Parking Mode: With real-time tracking through GPS tracking software, you can see if a vehicle is under threat while it is supposed to be parked. After all, it is generally when vehicles are parked that most theft happens because the drivers are not in complete vigilance. 
  • Easy theft recovery: Even if your consignment and vehicles do end up getting stolen, with the help of consignment and asset tracking systems, you can tell where they are. Therefore, you can get them recovered by reporting or sending help immediately. 

Can Consignment and Asset Tracking Streamline Operations? 

Streamlining operations can be a tricky thing to do if you are not aware of where your consignment is. This unawareness doesn’t only make it difficult for you to be in control but also removes the possibility of planning future actions. When you track consignment and assets in real-time, here are a couple of things that allow streamlining your operations:

  • Estimated Time of Arrival: Be it first-, middle-, or last-mile delivery, ETAs are important. After all, the receiver should be aware of when they should be ready for the consignment. Moreover, you can also only plan the next trip for the vehicle when you know when it’s going to be done with the delivery. 
  • Proof of Delivery: ETAs are just conjecture and do not mean much in places with fluctuating traffic. Therefore, proofs of delivery help you understand when exactly your consignment reached the customer. You can then use this data to further streamline routes or assets to reduce delivery time. 

Can You Be In Complete Control of your Fleet By Live Tracking? 

One thing you cannot lose in a business is control. Even though providing autonomy and independence to employees is important, you need to be in control of your operations. Or, at least, you need to know what is going on at all times – and that is exactly what live consignment and asset tracking helps you do!

  • Insightful Reports: If you track your assets and consignment through a potent fleet management software system, you will get insightful reports. It is through these reports that you can see the generally invisible thing in your fleet, giving you better control. 
  • Operational Strategies: With a deeper insight into operations, you can strategize operations, routes, and resource consumption in a way that helps you increase business profits. 

Summing Up

The future is digital, are you ready for it? Now is the time to ensure that all your fleet functions are effortless and flawless with the right software aid. 

Through this article, you’ve already learned how important it is for businesses to use GPS-tracking software for consignment and asset tracking. Without using the right software aid, you are sure to be missing out on a lot of benefits that the rising technological age has to offer! 

Let us come together and streamline your business operations effortlessly with TrackoBit!

What is Consignment and Asset Tracking?

Ayushi Nagalia

Ayushi Nagalia is a Senior Content Specialist at TrackoBit. She is passionate about music, writing, and reading. When not abusing her keyboard, you will find her lost in her playlists or organizing things.

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