System and method to calculate procurement of assets

A system to calculate a mode of procurement of at least one asset, the system comprising:

• at least one tracking element operable to generate a signal representative of a location of the at least one asset;
• and
• a controller in communication with the at least one tracking element, the controller including a processor in communication with a memory, the processor operable to execute a plurality of program instructions stored in the memory, the plurality of program instructions representative of the acts of:
• measuring a utilization of the at least one asset having a unique identifier over at least one time interval,
• calculating a projected need of the at least one asset over a predetermined future time interval dependent on the utilization of the at least one asset,
• calculating a mode of procurement of the projected need of the at least one asset dependent on the projected need of the at least one asset, and
• displaying the mode of procurement to the user.