6 Incredible Things That Transportation Asset Management Systems Can Do

There is an increasing focus on transportation assets to cost lesser to maintain and to last over a long period of time. In order to achieve those goals, an effective management system that can govern various aspects of transportation assets is required. Advancements in technology have paved the way for one. It is known as a transportation asset management system.

In this article, we discuss the 6 incredible things that it can do to sustain transportation assets over the long term and in cutting down operational costs.

Centralized control

Various aspects of the same transportation asset are oftentimes managed by different authorities. Take roads for example. There is a department that manages the maintenance aspect of it, a department for managing the budgets, and so on. This disperses the responsibility for assets too much. It hinders successful coordination when a need to act on the transportation assets arises.

Transportation infrastructure asset management software solutions give you centralized control over all your assets. That means you will always have an overview of all asset management functions, the latest asset-related developments, and more. This way, you can seamlessly oversee transportation assets.

Keep track of transportation assets

While it is important to track transportation infrastructures such as roadways, railways, and airports; it is also essential to track the resources associated with each of those infrastructures. Let’s consider shipping harbors as an example. They use various assets like forklifts, signboards, containers, and more. Tracking these resources is the first step to efficiently manage them.

Transportation asset management systems can integrate with tracking devices such as GPS, NFC, RFID, barcode scanners, and IoT sensors. This makes it possible to keep track of assets without having to physically inspect them. Moreover, with these integrations, the software captures asset information such as location, autonomously and in real-time.

Maintain physical assets

Transportation infrastructural assets age over time. As they deteriorate, they may become a health hazard or may become unfit for use. Leaving them be this way will hamper on transportation activities. An effective maintenance strategy helps deal with this inevitable problem. It helps maintain the quality of assets.

You can create custom maintenance schedules using a transportation asset tracking software solution. This preventative maintenance enables you to curb costly expenses that reactive maintenance incurs. To keep you informed about fast-approaching maintenance schedules, the software sends you notifications and reminders. And after each service, the software automatically logs the entire history of the job.

Ensure asset compliance

Every type of transportation asset is required to follow a certain set of regulatory guidelines. They ensure that the assets are up to code, are safe, and are operated legally and ethically. Failure to comply with such policies will attract legal trouble, which can be expensive and time-consuming to resolve. Furthermore, it makes the transportation asset unreliable in the eyes of the public.

Transportation asset management systems help effectively ensure that your assets comply with industry regulations. As it collects asset-related data in real-time and frequently records the physical condition of assets, you will have up-to-date information on what assets are compliant and non-compliant. According to that data, you can improve asset compliance.

Plan financial expenditure

Transportation assets incur a wide array of expenses from the time they are built until the time they are decommissioned. Expenses include operating costs, maintenance costs, and replacement costs. When managing a transportation asset, all of its expenses must be taken into factor. An insufficient budget will cause costs to leech into savings. Ultimately, it can hamper management efforts.

With a transportation infrastructure asset management software solution, you can seamlessly compare estimated and actual costs. Using Artificial Intelligence, the software evaluates how much it will cost to oversee an asset. With this information, you can allocate a good budget for asset management.

Continuously evaluate asset performance

Regardless of the type of transportation assets you manage, continuous evaluation of their performance is a key component of the management strategy. With the evaluation data, you can prepare reports that provide insights into how your asset and business are performing. However, carrying this out manually can be daunting.

Transportation asset tracking solutions automatically collects vital asset data, process them, and consolidates them into comprehensive reports and analytics. They reveal how frequently your assets are in use, what operations incur the most expenses, what assets are least in use, and more. The reports also reveal profit-boosting opportunities. As a result, you can optimize your asset management strategy for higher returns on investments.

Conclusion

Using a manual tool like spreadsheet software to manage assets hinders prospects more than boosting them. They lack modern features, integrations and are laborious to use. Replacing such tools with a transportation asset management system will do wonders in keeping your assets working at all times, and in increasing their lifespans.

Get SmartAMS — the best transportation asset management solution from SmartPoint. It contains industry-leading features, is easy to use, fast-performing, and highly secure. It is also available as a mobile app and can be accessed from anywhere via the cloud. Visit their website to learn more.