A case study of perceptions of asset tracking and inventory management technology in a small construction company

With the growth of commercial and residential construction projects, staff of construction companies work on multiple sites simultaneously, and equipment is located on multiple sites. As a result, asset management has become a larger issue of importance to the construction industry, mostly because of its influence on job efficiency and loss prevention. The purpose of this qualitative case study was to explore perceptions of a real-time asset tracking (RTAT) system and inventory management solution, and how the solution might help construction companies with overall financial efficiencies, loss prevention strategies, and time management planning through implementing effective asset tracking and inventory management. RTAT poses a number of benefits in the construction industry. Participants reported the benefits as improving resource management, and preventing loss, theft, and misuse of assets. Apart from tracking and tracing assets, employees can use RTAT technology to self-monitor and remain accountable for the materials and equipment that staff use. Employees become discouraged to commit theft and fraud when they know they will be held accountable for those items. RTAT technology does not only keep employees in check but also constrains other people onsite who may borrow tracked items. RTAT technology is generally perceived as accurate, mobile, efficient and cost effective; however, implementing RTAT technology may be challenging when employees and management do not have the proper mindset to adopt technology. Organizational change processes can be introduced to increase the success of implementation.