Tool inventory control is the process of accurately tracking all tools in a work area. It insures that tools are only taken out by appropriate personnel, and it insures that they are returned at the end of the shift. It keeps tools in stock and in good condition. It also reduces costs resulting from lost and stolen tools.

Tool management can be performed in a variety of ways. Owners can create manual sign-out sheets or Excel documents. They can invest in management software off the shelf. They can even acquire a customized management system. Software has advantages over manual systems. Some use radio frequency identification tags to secure tools. Employees have to scan their badges or enter an employee number to check out the tool. Software also automatically reports missing items. Manual systems, of course, cost less.

Do research before selecting an off-the-shelf program. First, make a list of exactly what the system should do during the course of the business day. Second, talk to colleagues to get recommendations. Try attending some trade shows. Watch the salespeople demonstrate the software.

Customized systems also require some pre-work. Be sure to involve the people who actually manage inventory as well as financial managers. Start by creating a flowchart of how tools travel through the business. List all of the elements the business will require from the system. Use that information to create a matrix of features to show to developers. Don\’t forget to evaluate the business\’s computer system. Software won\’t work on an out-of-date platform.

Next, put together a list of reputable vendors. Send out a Request for Proposal to these vendors including the features previously listed. Many business books have a template for this document. When the vendors send back their proposals, choose the top three. Then, test the software and test the technical support staff. Involve employees in the process.

Creating any inventory system involves a few basic steps. Start by creating a list of all existing tools. Note the make, model, manufacturer, and quantity of each. Then, assign an identification number to each tool. Etch the number or use a barcode.

Next, secure the tool crib. Make sure that each piece has an assigned place. Finally, create a system for checking out tools. This could be a sign-up sheet listing the time of checkout, the time the item was returned, and the employee\’s name. It could be as sophisticated as implementing a handheld scanner system.

Don\’t forget to periodically audit any system. Make sure that tools that are listed as \”returned\” are actually in the crib. Also, check to see that people who signed out items actually have the items. In addition, make sure that employees actually sign out tools before they take them.

Tool inventory control requires an accurate system. It also requires the buy-in of each employee. Whether businesses choose a manual system, a software system, or a customized system, they should insure that employees receive the correct training. Employees should know how the system works and what the employer\’s expectations are.

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: Home Management
Keywords: tool inventory control, tool management, tool inventory, tool management software, tool tracking