Tool Inventory Control has long been recognized as a means of protecting investments and controlling costs in business settings. Management software in use today has several advantages, in addition to lowering purchase costs. An atmosphere of accountability and responsibility is created at a work site by using these devices.

These systems can discourage waste and cut expenditures on consumable materials by up to 40%. They can reduce the cost of replacing lost equipment by up to 75% and result in 40% savings in returnable items, including unused and defective items under warranty. A system can pay for itself within the first year.

There are additional benefits to knowing where equipment is at any given time, as well. Lost units are not productive. They may be found through the system and put back to work. Hoarding by employees will be eliminated through the use of due times. This will also make the employee more accountable for his work time resulting in more productive employees.

Tool inventory software can classify units according to use, assign to certain individuals, job sites, trucks, or boxes, and redirect to where needed, when needed. This allows a greater return on the money invested in the equipment. Unused items may be located and reassigned elsewhere. Productivity improves when the availability and using of the right implement for the job is ensured. The use of the wrong one because the right one was unavailable is often the cause of damaged or destroyed implements.

Repair costs may be tracked and scheduled maintenance or calibration monitored so that they occur on schedule. Failure to perform maintenance decreases the life of equipment. Improperly calibrated equipment will not perform optimally and will result in defective product or work.

Replacement of damaged, worn out, and lost items can occur quickly. Information including a description and photo of the item, purchase date and amount, vendor, manufacturer, warranty, and maintenance can all be easily tracked and accessed in one place.

The reports that are generated through the management software can be invaluable. It can pinpoint all sorts of losses. Causes of loss could be specific individuals who habitually damage, loose, misplace, or possibly steal equipment. Individual equipment could develop a history of defect, misuse or lack of use and should be replaced or eliminated. Shortages or over purchases will be highlighted and corrected.

Using these systems in a work environment tends to create a completely different culture. Employees will develop a habit of being accountable and organized. Time and effort need not be expended tracking down items. Investigations to determine who was responsible for missing pieces will be easy, short, and conclusive. No one need be wrongfully or mistakenly suspected or accused to theft or loss. Employees will appreciate having the right equipment available for their use.

Tool Inventory Control through the use of tool tracking software is a valuable, cost saving strategy. It can also result in several indirect or unanticipated cost savings. This technology can create a more productive and honest work culture and ethic at construction sites, manufacturing plants, and maintenance or repair shops.

Author Bio: ToolHound provides powerful Tool Management Software, that allow organizations to gain control of their tools and equipment inventory.

Category: Business
Keywords: tool inventory, tool management, construction, industrial, engineering, business, career, homes