Webinar: How much are your assets worth?

Uncover the true value of your assets: Watch our webinar on effective tool tracking

Anna Edwards
Picture of Craig Allan in from of blue background with text about webinar

In the construction world and beyond, every tool and piece of equipment is a valuable asset. But are you truly maximising their potential?

Many companies overlook the hidden costs associated with inefficient asset management, leading to significant financial losses. If you missed our exclusive webinar, don't worry – the recorded version is now available for you to watch at your convenience.

Webinar details

Originally Aired: June 4th, 2024
Host: ABAX in collaboration with Construction Buzz Webinars
Speaker: Craig Allan, Specialised Sales Director at ABAX

Why watch?

Inefficient asset management can lead to a range of problems, including project delays, increased downtime, and substantial fines. In this recorded webinar, we explore how effective tool tracking can transform your operations and provide substantial savings in resources, time, and money.

Key topics covered:

  • The critical role of assets in operations: Understand how every tool and piece of equipment contributes to your projects.

  • The true value of efficient asset management: Learn how precise asset tracking can enhance productivity and reduce costs.

  • Overcoming asset management challenges: Discover proven solutions to common issues faced in asset management.

  • Success stories and real-life impact: Hear how companies have transformed their operations through strategic asset management.

"Effective tool tracking is not just about knowing where your equipment is; it's about ensuring that every asset is utilised to its fullest potential. This can significantly reduce downtime, minimise waste, and prevent costly delays. Across the heavy machinery, plant hire, and construction sectors, these efficiencies translate directly into financial savings and improved project outcomes."

Craig Allan, Specialised Sales Director at ABAX

The hidden costs of poor asset management

Consider a busy construction site or plant hire operation. Imagine a crucial piece of equipment goes missing. Workers are left idle, projects are delayed, and costs start to escalate. This scenario is common in industries where time is money, and the lack of proper asset tracking can lead to significant financial losses.

Moreover, project delays often come with hefty fines. Contracts in plant hire, heavy machinery, and construction typically include strict deadlines, and missing these can result in penalties ranging from thousands to millions of pounds. These delays also tarnish a company's reputation, leading to lost future business opportunities.

The benefits of effective tool tracking

Implementing an effective tool tracking system offers numerous benefits:

  • Enhanced productivity: Reduce time spent searching for tools and equipment, allowing workers to focus on their tasks.

  • Minimised waste: Prevent overuse and misuse of equipment, leading to lower maintenance costs and longer asset lifespans.

  • Improved scheduling: Better coordinate the use of tools and equipment, ensuring availability when needed.

  • Reduced downtime: Avoid delays caused by missing or unavailable equipment, keeping projects on track.

  • Proactive maintenance: Enable predictive maintenance with regular updates on the condition of tools and equipment.

Real-life impact

Companies that have implemented robust tool tracking systems report significant improvements. For example, a major plant hire firm saw a 20% increase in operational efficiency with a comprehensive tracking system. Another company in the heavy machinery sector reduced maintenance costs substantially through predictive maintenance, ensuring tools were always ready for use.

The value of an asset extends far beyond its purchase price. Effective tool tracking unlocks the hidden potential of these assets, ensuring they contribute to the success and efficiency of your operations. Don't miss out on this opportunity to learn how to transform your asset management practices.

Watch the recorded webinar now to gain insights on optimising your asset management. Discover how advanced tool tracking can safeguard against inefficiency costs, ensuring a more profitable and reputable future for your business.

Watch the webinar

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