Fleet Management & Forklift Safety Blog

How Telematic Data Delivers Measurable ROI

Posted by Neil O'Connell, SVP Technology, Innovation, & Product Development on Jun 4, 2019 4:00:00 AM

Use of telematics platforms in the warehousing industry has exponentially increased over the last few years. The reason? This type of data insight mitigates challenges and improves profitability for many companies. They see unprecedented growth and a measurable return on their investment (ROI). investment-3247252_640

It’s no surprise. Much of the supply chain has married their warehouse management software with an advanced telematics platform in order to gain instant access to actionable information, increased productivity, and fewer losses.

One analysis found that when 70 companies adopted SaaS, cloud-hosted telematic applications delivered 1.7 times more ROI than on-premises ones, and that those benefits increased over time.  

Imagine what goals your enterprise could achieve if managers had time to focus on improving KPIs, and if the data received explained exactly what was wrong, why, and what to do about it? 

How telematic data delivers

How would a telematics platform work for your business? Today’s telematics can be customized to monitor, analyze, and report on exactly what you need to know, all in real time. Once it is fit to your business needs, ROI is easy to achieve. Here’s a closer look at how it works.

Customization made easy

Managers can choose the widgets that take priority — in other words, real-time data on KPIs that matter most to you can be seen on one screen. This facilitates:

  • Immediate action to resolve issues, cutting downtime and improving productivity
  • Exception-based insight on each forklift, including operator behavior and safety protocols

Training, fleet optimization, and timely forklift maintenance

Managers can see in-depth information on each driver’s habits and where more training is needed. Telematic monitoring of all the moving parts in the warehouse operation allows for slotting optimization and can quickly determine the best route for product movement.

Managers do not need to be in the facility to complete their tasks. Cloud-based telematics software lets you remotely monitor, diagnose, troubleshoot, and reboot forklifts, getting them back online as soon as possible.

Cost savings & loss avoidance simplified

A telematics platform can ease the flow of data across your enterprise, and ultimately lead to new efficiencies and cost savings. This means you can optimize time and schedules for all resources — a key advantage since more than 60% of organizations do not have enough resources to manage project demands.

But, it’s more than just cost savings to be gained. Consider the value of avoiding losses. For example:

  • The value in easy-to-read preventative analytics, delivering at-a-glance internal risk assessments, driver scoring, and feedback that helps everyone avoid costly mistakes.
  • Data can be leveraged to augment operator behavior, improve vehicle maintenance, and facilitate safe usage of all equipment.

The use of advanced telematic data can give a business the competitive edge they need, while delivering a strong ROI.

Topics: advanced location, warehouse systems, cloud-hosting, customizable dashboard, Lean 5S, one-screen access, connected warehouse solutions, IoT, telematic data