When it is about fast-moving goods, the companies that are into this business have to maintain a fleet of vehicles. In addition to this, any mismanagement or wrong decision is always going to impact the business negatively and thus, the cash flow.
According to the research, it is found that a proper tracking system is always going to save billions for a business. There are various ways by which these can be managed. A GPS-based tracking helps keep an account of the movement of the goods and produce by curbing the unauthorised trips, poor route management and product delivery.
A survey conducted by a popular warehousing and transport company shows that with the proper tracking the company has been able to increase the productivity by approximately 10%, lower the service cost by approximately 5% and save fuel expense by almost 6%.
In addition to the above savings, there are other associated benefits. The truckers who are into frozen goods transport in Brisbane are also found to be more efficient in terms of speed, location, and completion of the task. This also helps in tracking the vehicle usage and hence, reduces the overall maintenance cost.
How Tracking Increases Cash Flow? A Brief Overview
Satellite tracking has been an inevitable part of the transportation industry. The following are some of the ways by which it has helped increase the cash flow and reduce the expenses:
i. Whipping on the Labour Expense
Apart from managing the cost of the fuels, the satellite-based tracking system is successful in monitoring the driver wages and various labour expenses in the following ways:
- By verifying the work hours of the drivers and labourers.
- By keeping in track on various penalties by keeping an eye on the driver’s accountability.
- By assisting drivers to reach to the destination in case of being lost in the product delivery or pick-up.
- By eliminating third-party intervention by communicating directly with the dealers or the customers.
ii. Curtailing the Operational Expenses
Another area where most of the cold chain service providers face an issue is the expenses incurred in operation and maintenance. Right from production to refrigerated storage in Brisbane, everything needs to be monitored efficiently. The following are some of the ways by which satellite monitoring proves helpful:
- By improving the activities and managing all the assets rather than piling goods on one vehicle.
- Reducing the downtime by assessing the availability of the vehicle and optimising the dispatcher and managers.
- Managing the fuel consumption by getting an idea of the traffic, weather, or the shortest route.
iii. Keeping a Constant Link between Service Provider & Beneficiary
With the proper GPS tracking, one can get real-time updates about the packed goods and notify the service providers about the expected delivery of the products. In short, it has helped to improve communication and bettered the service.
Be it a small industry or a big one, GPS tracking has helped such organisations to streamline the operation and subtly track the revenue generation. Hence, monitoring stands essential for a business.