In 2010, according to national crime statistics, there were 13,374 theft reports for heavy equipment with an estimated value of $400 million. Only 19% of that equipment was recovered, leaving contractors to foot the bill for rentals and eventual equipment replacement, project-delay penalties, wasted workforce and management time, and potentially higher insurance premiums.
While standard protective measures ranging from removing keys to marking machinery so that it can be traced back to you can be useful, one of the newest and most effective strategies involves placing GPS-based tracking devices on each piece of equipment. Using a GPS tracking device can help fleet managers see where their equipment is at any given time or set specific parameters to serve as an alarm if something is changed.
As more managers discover the capability to use their fleet management system as a security tool, hopefully heavy equipment theft will decrease.