06/28/2022—Tracking tools and machines on construction sites used to rely solely on manual methods and passive technologies like QR codes. With these solutions, theft continues to be a common issue in the construction industry. As the price of supplies and tools rises, the need for tool tracking technology has never been more necessary. CoRe Connected Resources is proud to deliver a 5G-enabled solution that affords site managers real-time visibility and tracking of expensive tools and machines, protecting your investments and eliminating downtime caused by theft.
Job site theft has been estimated to cost as high as $1 billion a year in the construction industry, according to the National Insurance Crime Bureau (NICB)1. This estimate doesn’t even account for lost time spent looking for missing items. Paired with the estimated 20% recovery rate, job site theft can severely damage your projects and business. With copper, lumber, hand tools, power tools and heavy machinery being the most commonly stolen items, new tracking methods like CoRe have hit the market offering better oversight and more dependable tracking via 5G technology.
In the past human error, like leaving equipment unattended, forgetting to lock it up properly or miscounting, made it easy for thieves to steal from construction sites. Other issues plaguing companies included unreliable storage or even employee theft. With 5G technology, however, theft can be prevented easily and with little to no infrastructure required.
The CoRe platform provides site admins tracking for every piece of equipment and tool that is on-site, even extending to heavy machinery and vehicles which travel offsite. CoRe tracks equipment in real-time, providing visibility of all tools and machines, their usage time, active status, and who has used them in the past and present. Another added benefit of the CoRe platform is machine usage insights, which provide detailed information on how often, where, and when a machine or tool was used. These insights offer admins valuable data that can signal when a machine is scheduled for routine maintenance to prevent breakdowns and further downtime.
With these features and connected worker capabilities, learn how CoRe can save your company from the loss and difficulty of theft today!
1 Commercial Heavy Equipment Theft – A Heavy-Duty Problem for U.S. Businesses. (n.d.). Retrieved June 27, 2022, from https://nicb.org/sites/files/2017-10/CommercialHE.pdf
2 Construction site theft statistics (and how to avoid becoming one). Construction Site Theft Statistics – WCCTV USA. (n.d.). Retrieved June 27, 2022, from https://www.wcctv.com/construction-site-theft-statistics-and-how-to-avoid-becoming-one/