Ring Power, a heavy equipment dealer and services company, has launched ItemAware with Aware Innovations. ItemAware is a tool and asset tracking system that uses RFID and other technologies to tag tools or other items and pair them with a beacon location (truck, shed, jobsite and more).
The ItemAware app is used to see each item’s location and last-seen status in real time, while clicking on individual items gives the user a detailed history of the item including locations, manufacturer and more.
Tool loss in the utility industry is estimated at 30% annually, a value of approximately $900 million. ItemAware can help reduce that asset bleed by giving fleet managers more control and visibility of assets in real time.
In addition, the detail levels of each item seen on the ItemAware app can help keep safety-related gear current with inspections for compliance in the utility industry.
Ring Power began a pilot program last year with South Florida utility contractor, Concurrent Group. Since adopting the ItemAware technology, Concurrent has seen a marked decrease in lost tool assets.
“As they 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,” said Steve Sarno, vice president power delivery and principle at Concurrent Group.
“This was the first system that worked.”
With the success of the pilot program at Concurrent, Ring Power and Aware Innovations have begun pilot program discussions with two other major utility contractors in the state of Florida.