Current State of The Construction Industry
When the Coronavirus pandemic started in spring 2020, everything else stopped. Restaurants closed their dining rooms. People who normally worked in an office started working from home. Schools shut down and kids learned online instead. Since most public spaces were closed or operating at limited capacity, there was little demand for new construction.
With new standards for occupying public spaces and the vaccine rollout, these areas have started to open up again. This is leading to a $35 trillion construction boom over the next few decades. Contractors and construction managers are having to face a variety of issues in preparation for the increased amount of work, including worker shortage, high cost of materials, and new technology, such as heavy equipment tracking.
Lack of Employees
Government assistance in the form of stimulus checks and unemployment compensation were a savior for many workers in 2020. However, these payments were often more than the workers had been earning pre-pandemic, so they are hesitant to head back into the workforce. This is leading to a shortage of qualified employees on the job site, which means projects take longer to complete. With the coming demand for new projects, it will be hard for the construction industry to keep up.
Loss of Revenue
With many projects halted or delayed throughout 2020 and early 2021, construction companies have seen a major loss in revenue. Since much of our construction materials, such as lumber and steel, were coming from abroad, the pandemic made it more difficult to access these materials, therefore driving up costs.
When you combine the lost revenue with higher material costs, it’s easy to see why construction companies are struggling right now.
This makes it difficult for them to see the benefits of adopting the new technology, like heavy equipment tracking, that would help increase efficiency and revenue despite the lack of employees available to work. Weary of cost, those in the industry fail to realize that the investment of such cutting-edge technology often is recouped immediately with the benefits it provides your businesses.
CallPass Has an All-Encompassing Solution
With CallPass, construction managers are able to use heavy equipment tracking on their assets to Locate, Analyze, Notify, and Act on everyday hurdles to their day-to-day operations along with simply boosting operational efficiencies on a daily basis. Cutting-edge GPS tracking devices enable real-time location information so you’re always aware of where your heavy equipment is at, but that is just the start! Advanced customizable reporting allows you to fully manage each asset you own. So, you can be proactive rather than reactive, such as being alerted when an asset is due for maintenance or if an asset leaves a job site location without authorization.
Full-Scale Management of Your Construction Assets
- Optimize Your Yellow Iron, Backhoes, Diggers, & More!
- Improve Operational Efficiencies
- Plan For Maintenance Accordingly
By having more accurate location data through heavy equipment tracking, you can better optimize the use of your existing assets as you improve your overall bottom-line. Keep your equipment moving on job sites instead of sitting in the yard! LANA Asset, prevents you from having to spend money on new construction assets when you can better use what you already have. You can also plan for routine maintenance instead of having a piece of equipment suddenly need emergency repairs and throw off your schedule.
To learn more about our heavy equipment tracking devices, sensors, and software, please contact us by clicking the button below to see how these devices and software work together in real-time. Let’s get back to work, together.