In the work truck industry, users are incurring unneeded costs and lost work time due to a multitude of issues including lost or missing tools, not having the tools needed to do a job when users are at a project, inability to provide documentation for needed certifications or inspections, and excess or underutilized tooling. Other challenges include managing tool rooms, lay down yards, static assets, and materials.
For example, in the electrical utility industry alone, there are an estimated 100,000 heavy trucks like bucket trucks and derrick diggers. The average cost of the tools on these trucks is approximately $30,000 or more. Several sources have stated that the loss rate for tools is around 30%. This translates to nearly $1 billion dollars a year of costs in just this one work truck segment.
Aware Innovations has applied technology and expertise to the work truck industry to address these issues with ItemAware.
What is ItemAware?
ItemAware is a powerful asset and material management application that supports multiple technologies, including the Internet of Things (IoT), passive and active RFID, GPS, barcodes, ultra-wideband (UWB), Bluetooth Low Energy (BLE), Wi-Fi and RTLS. ItemAware synergizes this data, allowing for tracking and managing of any asset related to your business in an easily digestible real-time format. For example, ItemAware has been in use at the U.S. Patent and Trademark Office (USPTO) since 2017 to track and manage over 130,000 IT assets in over 20 building with over 180 floors across 6 states saving the USPTO over $1.2 million a year in inventory costs.
ItemAware has been tailored to become a unique tool and asset tracking system for the work truck industry to tag tools or other items and pair them with a beacon location (truck, shed, jobsite, etc.). ItemAware is then used to see each item’s location and last-seen status in real time. Clicking on individual items gives the user a detailed history of the item including locations, manufacturer and more.
ItemAware prioritizes precision. Tools located just outside a truck or on a job site will not be listed as being on the truck. The ability to know the exact location of equipment cuts down on time spent looking for tools as well as the cost of replacing tools that aren’t actually lost.
Compliance isn’t an area you want to overlook. Failure to remain OSHA compliant can result in significant financial penalties as well as unwanted legal issues for your company. Prevent these fines by allowing ItemAware to aid in keeping safety-related gear current with their certification and inspection dates – an important aspect of compliance in the utility industry.
How ItemAware Has Transformed Concurrent’s Asset Tracking Processes
Testimonials speak volumes and Concurrent is excited to share how ItemAware has revolutionized the asset tracking and inventory management fields.
Ring Power Utility Equipment began an ItemAware pilot program in early 2022 with South Florida utility contractor, Concurrent Group.
Mike Beauregard, Senior Vice President and Director of Utilities, Crane and Truck at Ring Power Corporation, describes ItemAware as “technology [that] far surpasses anything major that has come to the industry in a while.”
Concurrent’s Experience with ItemAware
Since adopting the ItemAware technology, Concurrent has seen a marked decrease in lost tool assets. Our intuitive software has helped Concurrent reduce asset bleed by giving their fleet managers more control and visibility of tools and equipment in real time.
Steve Sarno, VP Power Delivery and Principle at Concurrent Group described just how ItemAware has revolutionized the company’s ability to track essential tools and equipment: “As the tools move around from truck to truck, we’re able to hold those accountable that had borrowed a tool, but also reduce the amount of tools that we’re replacing, this was the first system that worked.” Steve Sarno also went on to say, “After implementing the system [ItemAware], I found $175,000 of duplicate tools.”
This huge cost savings has not only allowed Concurrent Group to protect their bottom line but has also given them the ability to focus on their most profitable goals.
Concurrent further noted the ease of software installation. Because we know that you don’t have time to waste waiting, our team of qualified professionals work around the clock to ensure that you have the solution in place when you need it most.
With the success of the pilot program at Concurrent, Aware Innovations has pilot programs with two other major utility contractors in the state of Florida, Pike Electric and Mastec TSG. In addition to tracking tools on trucks, Pike is using the system to track and inventory line blocks as they’re deployed to ensure full recovery of these expensive assets.
Here is a link to watch a short video that further highlights Concurrent’s seamless experience both implementing and actively using ItemAware: https://youtu.be/RtxUlqPMWvA
ItemAware – Never Lose Track of Your Assets Again
This success story is just one of many that prove the value of ItemAware as an asset tracking and inventory management system.
At Aware Innovations, we believe in delivering a product that not only works well but also far exceeds the capabilities of other solutions on the market. Our modern, intuitive software allows you to predict issues, reduce theft and flag items that need repair before they interrupt your work cycle. Think of the time you’ll save if you eliminate the need for manual asset tracking.