Companys can create Locodes for their company and assign them to the following: 

1.Assets

a) Vehicles

b) trailers

c) users

d) drivers

2. Customers:

a) Paying

b) Delivery

c) Delay Points

d) Empty Parks

e) Depots

f) Wharves

g) Subcontractors

To do this go to settings -> Company Locodes 

Companies use this for multi depot/ multi state/ multi country scenarios where they can tie users and assets to locations