The pod
Every survivor has one pod, and the compass on your Field pack points to it. It cannot be destroyed, and nothing can be built or set down over it.
The stash drawer
A drawer slides out of the pod's front when you press the button above it. It is your own storage, like a chest that only you can open. Keep a spare tool in it for the day you perish.
Moving it
Grip a side handle and aim. A hologram shows where it can land, and when you let go it lifts and flies there. Moving your pod moves your respawn point, and sleeping does not.
When you perish
You see You Perished, then watch your pod print a new body and step out. Everything you carried is in one satchel where you fell. Grab it and smash it open, and the things fly into the nearest player's pack. The host of a Sandbox worlds world can turn that off. If you are only stuck, use I'm stuck in Settings and comfort instead.