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For most gas distributors, their largest – and most valuable – resource is their cylinders. With hundreds, if not thousands, of them being moved from customer to customer on a daily basis, distributors are likely to have more money tied up in these assets than they have invested in their trucks and buildings combined.
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The majority of gas distributors are reliant on their rental revenues, but if you can’t keep track of your assets, how on earth can you expect to stay in control of your earnings?
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About 2%-3% of all delivery/pickups have a mistake on them. (Mistakes are more common on pickups, but deliveries have mistakes too.)
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I was very honored to be asked to write an article on the history of gas cylinder tracking systems for the 25th Anniversary Issue of CryoGas International Magazine. I'm proud that TrackAbout has been a leader in developing asset tracking technology for the industrial gas industry for the past 15 years. That experience has given me a chance to watch this technology grow from its infancy.
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According to the Association of Energy Service Companies (AESC), oilfield thefts amount to an estimated $1 billion USD annually. Stolen equipment ranges in value from $100 to $10,000 USD or more per item and includes laptops with proprietary information, control panels, pipes, valves, heavy equipment and anything else that isn’t bolted down, as well as some things that are.
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