How Advanced Asset Tracking Systems Can Turn Businesses Around
Argyle Welding Supply’s road to success since its establishment in 1975 has not always been easy. In fact, data reliability issues once caused countless headaches for the company.
The family-owned company distributes medical, industrial and specialty gases wholesale, along with chemicals for water treatment. Managing 26,000 cylinders is not an easy task, and manual asset balance tracking methods were not only taking up a lot of valuable time, but they were also costing the firm a lot of money thanks to their susceptibility to error.
Discrepancies between customers’ records and those of the distributor led to a lot of unpleasant conversations, with the company caving in regularly in the interest of holding onto customers. Their bottom line took a big hit from writing off all those lost cylinders and missing rental revenue. One time, they even discovered they forgot to add a 2,000-pound carbon dioxide tank to a customer’s account, which meant more than $5,000 went unbilled for more than two years.
Solving Problems, Saving Money
Thankfully, one of their suppliers told them about the asset tracking system from TrackAbout. After a visit to the company to see the system in action, Argyle’s president was impressed. This closed-loop system for asset tracking seemed to solve a number of problem that had been plaguing Argyle.
With the system, rugged handhelds and smartphones collect the data, and TrackAbout is able to correct problems such as duplicate serial numbers, missing scans, and even syncing mobile units in the wrong order. However, its power to capture cylinder history was one of the biggest selling points for Argyle as it provides evidence that can be useful in resolving customer disputes.
In addition, the firm is now able to deploy cylinders more effectively as they can see the number of cylinders that are at each location along with their characteristics quickly and easily so they can reallocate and rotate them out as needed. Argyle reports their rental income has risen by six to eight percent since implementing the system, making the return on investment quite significant.