By Lisa Stafford, CEO & Co-Founder, TAZAAR®
Every year, businesses in the events and production industries lose tens of thousands of pounds due to stolen or misplaced equipment. Whether it’s expensive lighting rigs, high-end cameras, or essential sound systems, missing gear can throw an entire production into chaos.
The Scale of the Problem
Equipment theft is a growing concern, with industry reports suggesting that millions of pounds worth of gear go missing each year. But misplacement is just as big of an issue. A speaker left in the wrong venue, a case swapped in transit, these small mistakes can have huge consequences. Beyond the direct financial hit, lost equipment can delay or even cancel events, damaging reputations and client relationships.
The Stopgap Solutions
Many companies, in an attempt to track their assets, turn to consumer-grade solutions like Apple AirTags.
While effective for personal belongings, AirTags were never designed for the professional environment. They rely on an ecosystem of Apple devices to relay their location, meaning tracking can be inconsistent in certain locations, and they lack the robust management features that professional equipment managers need. Some rental companies reportedly spend up to £4,000 per year on AirTags, often juggling multiple accounts to keep track of their inventory.
The Hidden Costs of Missing Equipment
The cost of losing a piece of kit isn’t just about the price tag. When a vital component of a production setup is missing, it creates a domino effect. A missing lighting console can delay an entire rigging process; an absent microphone might mean scrambling for a last-minute replacement. Worse still, if critical equipment doesn’t turn up on time, an entire event may be at risk.
One equipment manager shared how they were able to quickly locate misplaced speakers that had ended up at a supplier’s warehouse using an advanced tracking system. Without it, the retrieval process could have taken days, affecting event schedules and causing logistical headaches.
A Smarter Approach to Equipment Tracking
As technology advances, more industry-specific tracking solutions are emerging, offering real-time location tracking designed for professional environments.
Graham Gosden, Managing Director of APT-GB, a UK-based manufacturer that has adopted integrated tracking solutions, explains:
“It’s not only the value of the equipment tracking secures, but it protects against the knock-on impact of the event not going ahead if critical equipment doesn’t turn up on time. At least, tracking can tell you where the equipment is, so you can plan around it rather than hoping for the best.”
By incorporating dedicated asset-tracking tools, businesses can ensure that equipment is always accounted for, reducing the risk of theft and misplacement while improving operational efficiency.
Conclusion
For businesses that rely on expensive and critical equipment, having a proper tracking system isn’t just a convenience, it’s a necessity. While stopgap solutions like AirTags might work for some, they don’t offer the reliability or scalability that professionals need. Investing in a system that provides real-time oversight and secure asset management can mean the difference between seamless operations and costly disruptions.