7 Common Problems of Construction Organization Without Asset Tracking Software

The construction industry is one of the oldest, growing, and most active industries in the world. Construction work, related to both industrial and commercial sectors, faces several challenges without asset tracking software.

If you are involved in the construction industry, you might have encountered issues such as missing assets when they are needed most, and asset failure at crucial times. In this blog, we explore some of the most common hurdles in the construction industry.

According to Finances Online, one of the top challenges the construction industry faced in 2019 was a shortage of skilled labor, which accounted for 67 percent. More than 30 percent of employees lack confidence.

Frequent Issues in Construction Companies without Infizo Stock

1. Using the Spreadsheet Method

Old and traditional methods for asset tracking can be a wasteful work procedure, especially in the construction industry. For instance, if a task supervisor relies solely on a spreadsheet saved locally on their work PC to track tools, equipment, and assets, other team members won't be able to access the information they need. Therefore, the spreadsheet method is not a foolproof method for asset tracking; on the contrary, it is prone to errors. As a result, overall productivity decreases.

2. Equipment Theft

Thousands of dollars can be saved with proper asset management. Asset theft or misplacement is very common in every industry. On a construction site, there is very low security, or no security at all, increasing the chances of employee theft. This also means anybody can enter the worksite and steal assets (tools, equipment, vehicles, etc.). Equipment theft impacts the business in many ways: daily operations are affected, and projects are not completed on time, directly impacting productivity and, most importantly, the company's bottom line.

3. Safety Issues

In our last blog, we mentioned some alarming statistics regarding employee safety concerns. The construction industry is well-known for being one of the most dangerous fields of work. Unfortunately, more accidents occur on worksites compared to any other industry. The worst part is that these injuries and accidents could be avoided with the correct precautions and software. These tragedies occur for several reasons, such as a lack of communication about safe work practices, failing to implement these practices efficiently, and not using tracking software. For safety, a construction organization should focus on maintaining assets via asset tracking management software to track the asset's usability status and maintenance schedules, providing a safer environment for employees and reducing insurance costs by taking precautions to avoid accidents and injuries.

4. Downtime Expenses

Assets and equipment that are missing have a very negative effect on a company. Lost labor hours, work stoppages, and delayed project progress occur when the required asset is not found, leading to inefficiency as workers wait for substitute assets to arrive. If a worker waits for 5 minutes and you have a crew of 100, this means your organization loses 500 minutes per day, or valuable work hours.

5. Lack of Skilled Employees

Not just in the construction industry, many sectors do not provide any training to their employees, resulting in a shortage of skilled employees. This is one of the biggest mistakes an organization can make, assuming that workers do not need training. This assumption can cause future issues. To grow your business, training should be provided to employees on asset management software, especially to the maintenance team, as they can provide significant assistance in urgent and critical situations.

6. Maintenance & Unexpected Breakdowns

Equipment maintenance is one of the oldest issues in the construction industry. For example, work is going on at full swing when suddenly a machine halts, and work stops. This is a classic case of an unexpected breakdown, resulting in operational hindrance. When equipment is in good condition, it performs better, increasing productivity and avoiding unexpected breakdowns. However, a separate team may be needed to maintain the equipment. With the assistance of Infizo Stock, all information about equipment or assets is provided, including maintenance records and schedules, facilitating maintenance activities without interrupting daily work.

7. Problems in Productivity

According to PlanGrid, there has been only one percent growth in the last twenty years in the construction sector. When several issues are prevalent in almost every organization and no action is taken, productivity decreases. This number is a wake-up call for the construction industry. Implementing Infizo Stock is the first step toward enhancing productivity and growing the business.

Conclusion

Construction companies do not want to face all the issues listed above. Instead, they seek benefits and perks. However, problems will persist until a solid solution, such as asset tracking management software, is implemented. To grow your business and avoid these issues, asset tracking software is mandatory. It will boost your bottom line and provide several advantages to your organization.

If you need any assistance or have concerns, you can always contact us. We will be happy to help you out!