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Stay On Track With Telematics
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.
Using telematics data, you can:
• 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:
- Location features help keep equipment and people safe by alerting operators and sounding proximity warnings.
- Telematics can help optimize utilization – because equipment doesn't get rented when it's not needed or parked and forgotten.
- Most OEMs provide apps that allow you to access information via smartphone or tablet, so you can check on equipment condition, fuel burn, idle time or service hours.
- Condition monitoring alerts help control maintenance and repair costs by reducing downtime.
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
Master Equipment Costs
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.
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