Over 20% of new businesses go under within the first year, so having a good business strategy from the start is critical. This means making the right investments in personnel and equipment. And it means knowing how to track and maintain your assets.
Make sure you know what goes into construction equipment management. Read on to discover a guide to effective construction management!
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Keep Track of Your Fleet
When you draw up a business plan for your construction company, map out a system to track your equipment. A backhoe, for example, might be one of your most in-demand pieces of equipment. How will you know its whereabouts when you need it?
You can use GPS to track equipment. And you should maintain records on every piece of equipment. Create a file where you detail the purchase date, repair records, and hours used.
While you’re at it, secure proper storage for your equipment. An enclosed warehouse will keep your construction equipment safe from weather or vandalism.
Invest in Construction Management Software
Construction equipment management software can be a lifesaver when you’re trying to manage a growing fleet. With so many moving parts, it’s hard to balance costs against usage.
Use https://www.equipmentshare.com/digital-solutions/fleet to maintain oversight of your fleet. You’ll be able to see which pieces of equipment sit in storage the longest. And this can help you determine whether to part with the equipment or modify your project choices.
You can track the mileage needed to transport equipment, too. That way, you can see if you’re exceeding your budget. You may need to tighten your radius for projects.
Stay on Top of Maintenance
One of the best ways to stay on top of construction fleet management is through preventative maintenance. You’ll be able to get more life from your machinery and avoid bigger repair costs.
You can use software to help track maintenance needs, too. Reaching a mileage benchmark on a dump truck could prompt an alert for an oil change or new tires. You can provide space in an online portal for employees using the equipment to offer feedback, as well.
Weigh Renting Versus Buying Equipment
If you anticipate only needing a piece of equipment occasionally, you may be better off renting it. For instance, you might not need an excavator for every job. You could outsource the job to a subcontractor or rent an excavator to dig out a foundation.
Plus, at up to half a million dollars, excavators aren’t exactly cheap. You may want to hold off expensive equipment like an excavator or wheel loader until you have the funds. Likewise, readily available equipment like dump trucks may be easy to rent when you’re just starting out.
Practice Good Construction Equipment Management
Construction equipment management is critical to maximizing results from your fleet. You don’t want equipment to sit dormant for too long, and you might not want to buy all of your equipment. Look into rental options, and invest in construction equipment software to streamline management.
Find more tips to keep your business humming. Check back for more articles soon!
