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This is the fourth in a series of articles about how technology can help construction companies optimize performance across their worksites. In our previous articles, we’ve shown how technology can help construction teams share information and optimize safety. In this article we’re focused on how technology and the data it provides can help improve availability and reduce costs.
According to an article on ForConstructionPros.com, contractor adoption of telematics is somewhere between 7% and 17%, depending on the source. This number is surprising given the fact that 80% of heavy equipment produced for the U.S. since 2009 has come equipped with this machine monitoring technology*. Diving into your telematics data is a great way to distance yourself from the competition.
• reduce equipment costs → Impacts money in the margins
• extend machine life → Impacts utilization
• prevent unscheduled downtime → Impacts uptime
• spot problems before failures → Impacts repairs
Most contractors use basic telematics information — machine operating hours, location and fuel consumption— to produce measurable improvements in operating costs. Most new equipment has telematics built-in so all that’s required is activation. Here are some of the specific cost-saving benefits you can get from your telematics data:
With telematics data you’ll be able to identify and rectify overused or underused equipment to optimize operations across your sites. You want to avoid having any machine run more than it should or running only 20% of the time. Your goal is to use all machines to their full capacity—and telematics data can point you in that direction.
Discover more advantages in the Technology Optimization series below:
• Technology Optimization #1
Technology – Multiple Ways to Optimize Your Performance
• Technology Optimization #2
Get Your Crew On the Same Page – Even With Different Devices
• Technology Optimization #3
Reduce Risky Business on the Worksite
• Technology Optimization #5
Machine Control & Automation Can Add to Your Bottom Line
The Fundamentals of Equipment Economics is a virtual course from Caterpillar University that will help you understand the equipment lifecycle, reduce downtime and make smarter moves for your business.
You’re here to get ideas to grow your business. Read on for machine insights and expert tips and tricks to get more out of every job.
Having a strategic and intentional equipment training plan for your business can not only help with retention, but also recruitment – helping to address the labor shortage issues we see in the industry.
Learn MoreFrom E-Fence to Indicate features, check out the new mini excavator technology, helping to make your time in the cab more efficient.
Learn MoreFor over a decade, Tatum Excavating Company (TEC, Inc.) has been building a reputation as a precision earthmover. Headquartered in Texas, TEC, Inc. is known for getting the job done right—working to spec, finishing on time, controlling the budget. But as business has grown more competitive, TEC, Inc. has turned to Cat® technology for help.
Learn MoreLearn what construction equipment built-in technology is and how it can help make your business more efficient.
Learn More