GPS technology is an unsung hero of our modern digital times, a backbone on
which many innovative applications have grown to rely on. With commercial GPS
companies can navigate, track and locate more effectively. GPS has been quietly
changing technological landscapes in businesses across different industries.
The impact is notably felt, though often understated: GPS improves efficiency,
productivity and precision; ultimately helping companies save costs and maximize
profitability.
These are the 10 main ways GPS saves - and makes - money for companies:
1.
Increased Navigational Efficiency and Productivity
- Driver's get lost less often.
- Driver's get to their destinations more
quickly.
- Traffic apps powered by GPS enable diverting
around bad traffic areas.
- Dispatchers or automated services can assign
closest vehicles to targets.
- Better efficiency reduces overtime needed per
workweek.
- Better operational efficiencies reduce wasted
materials.
2.
Better Accountability
- Vehicle speed and braking monitoring equals better
speed consistency resulting in lower fuel consumption (reduced
fuel costs is often the number one and most visible cost savings from GPS
tracking).
- Less reckless driving via
vehicle speed, braking and location monitoring.
- Reduces non-work related side trips with company vehicles, reducing mileage and
required working hours.
- Track record of employees' locations for automatic billing and customer's audit.
3.
Better Customer Service
- Faster arrival to
client's locations.
- Customer's have access to tracking information from service providers resulting in less
ambiguity.
- Customer data can contain deeper information enabling more streamlined and tailored services.
4.
Better Supply Chain Management
- Automatic asset tracking and Supply Chain
Management (SCM) solutions minimize over and under stocking.
- GPS asset tracking and SCM help detect and correct
inefficiencies in the supply chain.
- GPS SCM solutions help ensure timely and cost
efficient deliveries.
5. Lower
Maintenance Costs
- GPS enables automatic mileage recording, keeping
a closer eye on maintenance schedules.
- Better driving habits by employees via GPS
tracking results in less wear and tear on vehicles.
- Advanced monitoring of
vehicle status and fault code warnings can prompt preventative
maintenance.
6.
Lower Administrative Costs with Increased Digitalization
- Automated tracking of vehicle mileage.
- Automated recording of employee's work hours spent at customer's work sites
- Employees can automatically clock in and out of
work.
7.
Worker Safety
- Prevention of workers working too many hours and being over legal working hours limits.
- Workers in remote areas remaining connected to the company.
8.
Lower Insurance Premiums
Insurance premiums for an expanding
fleet vehicle can quickly become significant business costs. One way to lower
insurance premiums is to track fleet vehicles with GPS tracking solutions. In
the US, insurance premium discounts on GPS tracked vehicles can be very
attractive: AAA Insurance, Liberty Mutual and USAA Insurance offer
discounts that range from 18 to 33% respectively. Tracked vehicles are deemed
to be of lower risk in many ways.
9.
Theft and Loss Prevention
- GPS tracking is a theft deterrent.
- GPS tracking helpful for valuable asset
recovery.
10.
The Future
The world is at the advent of mass
automated delivery by robots and drones, made possible by artificial
intelligence and GPS technology. Domino’s Robotic Unit (DRU) has
started pilot delivery their pizzas with robots while Amazon Prime Air is
in mature stages of piloting drone parcel deliveries. We can expect these
technologies to go main stream soon. Automation offers many advantages: it can
be efficient and economical. For example, drone and robot deliveries can be
integrated with systems in fulfillment centers to deliver goods automatically
upon orders, throughout the day and night. Drones can also fly almost anywhere
in the shortest route.
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