Tool Inventory Control is an innovative system for managing tools in business settings and controlling and reducing their losses. Management systems range from some simple, low tech, pencil and paper methods, to complex, fully automated, time saving systems. They can be incorporated into any business application to reduce expenditures for duplicate or replacement pieces, and to ensure they are being put to productive use at all times.

Physical accounting has always been an accurate way for businesses to hold their employees accountable. New developments allow businesses to know where their property can be found at any time, or alternatively who was the last person responsible for it. This encourages employees to behave responsibly and makes misplacing, loosing or stealing items, and getting away with it, much more difficult. In taking the human element out of the equation it makes it practically impossible to shift blame for a lost or damaged item. Machines cannot be accused of having ulterior motives, being dishonest, or spite. They do things uniformly each time.

With old manual accounting systems more than one person needs to be involved in a transaction to ensure integrity in the system and create the necessary documentation. This is time consuming and distracts employees\’ focus from their normal work. That impacts productivity. Alternatively it necessitates hiring extra people to perform these non productive tasks.

Some recent innovations incorporate identifier technology, such as specific bar codes or radio frequency identifiers. Bar code identifiers are the same type used in retail for inventory control. Radio Frequency Identification tags contain an integrated circuit. These circuits are encoded with unique information relative to each individual piece. These relatively inexpensive tags are also common in retail situations. These identifiers can also be placed on kits which contain multiple implements commonly used in conjunction for a particular job, as a single unit.

These identifiers when attached to the equipment, can be read by bar code readers or by RFID readers, also known as interrogators. These are then used to document movements of each individual piece as it goes out of or into storage. These readers in wireless, portable, hand held form are used remotely from the place of business, and in real time.

Completely automated systems also exist. These are vending machine like dispersing devices which enable an individual to document his transactions through the system alone. By either entering an identification number or swiping an ID card his identity can be verified. If he is not certified to use the system, or access specific equipment, the system will deny his access. Access is further restricted to only the equipment being requested. Equipment is returned in the same way. No other employees need be taken away from their work, or hired to monitor the transactions.

Dispensing of work materials can be done this way also. Storage bins have scales that recognize the weight and thus the quantity of materials removed and immediately update the stock count. Purchase orders are automatically created as materials become depleted.

Tool Inventory Control systems have evolved as technology improved. Today\’s tool inventory software makes accounting for items and controlling costs from theft, loss and misplacement easy.

Author Bio: ToolHound helps companies of all sizes maximize Tool Management by ensuring the right tool is in the right place when it is needed.

Category: Computers and Technology
Keywords: tools,tool inventory,inventory control,business,management,hobbies,society,advice,technology