Tools may seem like minor expenses, but their cumulative costs can quickly add up and significantly affect margins. Employing the appropriate technology, creating an accountable culture and developing efficient work processes are keys to mitigating losses from stolen or misplaced tools.
An effective tool tracking system identifies and organizes tools according to their users, eliminating the need for sign out forms and the time-consuming hassle of keeping track of who has used what. Furthermore, such a system prevents selfish team members from hoarding equipment.
Organize Your Assets
Misplaced or stolen tools can be difficult to track down. This is an issue for companies with large facilities or teams sharing tools across different sites; with an asset tracking system it is possible to constantly monitor where each asset is and thus reduce the chances of them going missing – an expense borne by all concerned.
Tool management systems can also save on replacement costs by tracking the lifespan of tools, providing alerts when certain equipment needs replacing, and ensuring your team always has access to essential gear. This allows projects to continue without delays caused by missing essential tools.
Tool tracking systems offer employees who handle valuable tools visibility and accountability, providing an extra layer of security while making sure assets are being utilized according to manufacturer instructions or their correct usage, saving both time and money in the long run.
Keep in mind that no matter how much your company invests in technology, an effective tool tracking system still requires cooperation from employees. One effective strategy to get them on board with this process is creating an easy and user-friendly process – for instance using a sign out form without too much input from employees, or by creating checklists of each tool or piece of equipment so employees remember when to return tools that they have used instead of constantly reminding them about doing so.
Modern technology makes it possible for any construction or service business to increase productivity without breaking the bank. Finding an application that aligns with your individual workflow and fits with your business model will enable you to take full advantage of tool tracking solutions.
Track Your Assets
Tool availability is vital to successfully completing construction projects on time and within budget, but reordering or replacing tools can create delays in project workflow, frustrate employees and drive up operating costs. To address this, companies can utilize tool tracking systems as an effective way of improving productivity by eliminating wasted time and cutting procurement costs.
Numerous solutions have been put forward to try to address this problem, yet these often fall short in scope. Sign-out sheets and Excel spreadsheets are two examples of ineffective inventory management attempts which fail to address its core cause: tools aren’t managed in offices or warehouses but instead by employees in the field who use them daily for work functions.
Tool tracking systems solve this issue by allowing employees to easily clock in and out tools using smartphones in the field, with this data then instantly being uploaded into the cloud and making it possible for managers to easily identify who has access to which tools, when it was last used and creates an audit trail of every tool for future reference by either admins or supervisors.
This system is particularly effective for organizations that utilize numerous small tools. For example, companies might have hundreds of screws and nails they regularly use together or various types of tape in inventory; to streamline operations these items can be bundled and stored together to save space in storage spaces. Furthermore, small tools may also be organized according to function so it will be easier for employees to locate them when required.
Tool tracking systems offer another valuable feature: being able to keep an eye on the condition of your assets. By using data from the system, you can determine when equipment needs servicing – this information being available can reduce equipment breakdowns drastically while saving your staff money in repairs costs.
One of the greatest advantages of an effective tool tracking system is its use in compliance management. By having access to real-time information about where your tools are located, compiling records for regulatory bodies becomes straightforward and should a customer dispute arise, the system can serve as evidence that proves your company has diligently tracked assets.
Utilize the Data
An effective tool tracking system, as described in this Wales Online post, can save any company up to 30% in overall operating costs, regardless of their size or sector of operation. Construction or other businesses alike need a streamlined strategy for tracking tool inventory to support internal operations; otherwise they risk incurring unnecessary procurement and inventory costs as well as delays that hinder productivity.
Implementing a tool tracking system offers more advantages than simply keeping an eye on where and when your tools are used; they also enable you to collect and analyze data that enables more productive strategic decision-making, helping your organization enhance organizational processes as well as pinpoint areas for improvements such as storage or handling of tools.
To maximize the effectiveness of your tool tracking system, make sure that everyone on your team understands why and how it is being implemented. Open communication lines will help reduce resistance while encouraging greater ownership over their tools by team members.
An effective tool tracking solution should be easy for both field and warehouse teams to use. Solutions that are too difficult for them will not garner their support and could actually create additional issues for your team. You should provide ongoing support and assistance so as to ease their transition into their new tool management system.
Your tool tracking system should include an efficient tagging mechanism to reduce errors associated with manual data entry for inventory management. RFID, barcode labels or GPS devices may help in this regard; they will prevent human error during check-in and checkout processes while increasing safety as they move between work areas.
A tool tracking system should have the scalability necessary to accommodate your growing business without necessitating significant infrastructure upgrades, while being integrated seamlessly with existing software and hardware solutions – this flexibility can maximize returns while decreasing time and costs associated with implementing new technology.
Monitor Your Assets
With the appropriate technology in place, a strong culture of accountability, and efficient work processes in place, your business can effectively reduce tool loss while guaranteeing technicians have all of the tools needed for the task at hand. Monitoring equipment usage saves you money on inventory costs while cutting project delays while simultaneously increasing overall productivity.
Successful tool tracking strategies require getting everyone on board. Involve your technicians in researching and selecting a system that suits them best, and train them on proper use and handling protocols. This ensures your employees recognize the value of this technology while knowing how best to utilize it – encouraging a culture of accountability while making it harder for employees to conceal or misuse company equipment.
Implementing a system that is user-friendly for field, warehouse and back office personnel will speed their adoption quickly. This can reduce resistance while encouraging consistent usage as well as increasing accuracy of data. An intuitive solution such as mobile scanning of barcodes or RFID tags via smartphones may eliminate bulky scanners; similarly transferring tools between people quickly can drastically cut down time spent between warehouse and field personnel.
An effective tool tracking system can offer many other advantages, including improved maintenance and repair scheduling thanks to usage data. With such information at your fingertips, routine repairs for more costly equipment won’t needlessly fall off schedule due to unnecessary downtime or infrequent maintenance visits; and having complete history of usage data gives an indication of when equipment may have reached the end of its useful lifespan and needs to be replaced.
Are you ready to maximize the value of your small hand tools and other equipment? Discover more about our industry-leading tool tracking solutions from one vendor. Our unique combination of rugged QR code tags with powerful smartphone scanning apps and cloud-based software provide solutions for real world problems like tracking tools, materials, consumables, service/maintenance needs, workers, certifications etc.
