Utilizing GPS Asset Tracking for Business Security

An insurance policy can go a long way towards protecting a business's assets, but even the best insurance can't tackle the issue of loss prevention before theft has occurred. Valuable asset theft is a concern for businesses of all sizes and GPS asset tracking is the first big step toward a solution. GPS tracking technology has a wide range of applications, from vehicle and heavy machinery tracking to asset tracking for smaller valuables. Here's a closer look at the many uses of GPS asset tracking and how it can protect your business. 

GPS is the Gold Standard for Asset Tracking

GPS is considered to be one of the best options for asset protection as it is versatile, affordable, and effective. RFID tracking technology is another popular choice for many industries and it is used for a variety of applications, including toll roads, shoplifting prevention tags, ID scanners, pet microchips, and more. RFID has its limitations, however, including reliance on specialized scanning devices. Because GPS relies on a global satellite system instead of local scanners, it is able to be used for much broader scale applications. 

Tracking Small Assets

GPS tracking technology is continually advancing and has now reached the point where it can be used to track the whereabouts of smaller assets as well as vehicles. In many industries, GPS trackers are being used to monitor the movement of high-value items. For example, hospitals spend a lot of money on medical equipment and the last thing they want is to lose it to theft or even accidental misplacement. Utilizing GPS tracking devices to monitor this equipment allows hospitals to better manage their inventory, reduce theft, and minimize associated costs. Tracking medical supplies and equipment also helps these hospitals create more efficient use systems based on their collected data. 

Other business use cases for small asset tracking include cell phone electronics retailers. These types of retailers are high-risk for theft, and in some cases are easy targets because of the high volume of relatively small and easy to carry high-value inventory. Using GPS trackers on this inventory can make it easier for retailers to monitor inventory and prevent shrink. With this technology in place, law enforcement officials can recover stolen goods and apprehend thieves. 

Art galleries, museums, auction houses, etc., are likewise benefitting from the use of GPS tracking devices to monitor the movement of valuable items. Whether the items are large like antique cars and furniture, or small like estate jewelry, there are GPS tracking options that can be customized to suit any need. 

Even the smallest sized assets can be monitored with GPS trackers. Jewelry retailers can use custom jewel cases outfitted with hidden GPS trackers that allow owners to monitor the location of their inventory. This level of security allows retailers to be alerted if high-value merchandise has been removed from the premises. 

GPS tracking has also been used successfully in law enforcement operations, especially in use cases that involve combatting prescription drug theft. For example, some police departments have planted GPS trackers disguised as prescription bottles in pharmacies around their city. In the event of burglaries, GPS data collected from decoy bottles helped police officers apprehend the criminals responsible. 

Tracking Larger Assets

Equipment theft is on ongoing concern, especially in construction and agriculture industries. This problem is often exacerbated by the high number of temp or seasonal workers on site. A report by the National Insurance Crime Bureau explains that $1 billion of construction equipment is stolen each year, nationwide. While this statistic may be discouraging by itself, a solution is available in GPS tracking. 

GPS tracking can be exceptionally useful for monitoring vehicles and heavy equipment, for which there are relatively few effective security options. While it may be possible to utilize such solutions as manual locks, alarms, security cameras, and even cages, fences, or human guards, GPS tracking is usually the most cost-effective option. 

Cargo theft is another concern that GPS tracking is able to address. According to a report by CargoNet, an estimated $30 billion in cargo is stolen annually. This issue has become so pervasive that the Federal Bureau of Investigation runs seven different task forces in the U.S., just to overcome the problem. Tracking trailers allows companies -- and, if necessary, law enforcement -- to monitor the location of equipment at all times and track its movement. 

GPS Tracking is Here to Stay

It is clear that GPS tracking technology can be used to monitor and protect a wide variety of assets, large and small. From GPS vehicle tracking for the largest machinery and equipment to micro devices for the smallest items, the real-time tracking information offered by GPS solutions can benefit a variety of industries. The saying "knowledge is pwer" has more than a grain of truth to it, and GPS tracking puts that power in the hands of businesses. Visit our website to learn more about the solutions we offer.