How Tool Tracking Software Helps with Inventory Control
Tools represent a significant percentage of many companies’ total assets. But while it’s easy to keep track of large pieces of equipment, it’s much more challenging to maintain an accurate account of items like cordless drills or electronic devices.
By implementing a tool tracking system, your workplace can protect these assets, and you can find the tools you need when you need them.
Tool tracking software is a subset of asset management software that allows businesses to catalog and manage their tools, devices, and equipment inventory. Tool tracking systems allow you to track the location of these items and their individual costs and help business owners make decisions about when to replace each item.
By keeping better track of your tools, you’ll avoid wasting money replacing key items before you need to. For this reason and many others, tool-tracking software is a valuable investment that can cut down on unnecessary costs.
Cloud-based solutions have already revolutionized many industries. With a web-based tool tracker, you and your team can manage your inventory from anywhere in the world.
With a web-based tool tracking solution, you can easily look up where to find an essential piece of equipment, even if you’re in the middle of a project. As a result, your projects can proceed seamlessly, and you can avoid confusion at the job site.
Catalog of Tool Information
A tool tracking system should contain every piece of data available for each tool, including the serial number, model number, year of manufacture, and other identifying information. The best trackers will allow you to import new tools into your inventory with ease and provide reports of your entire catalog of tools.
A bar code system allows users to check out tools, which helps you keep up with who’s using a particular piece of equipment at a given time. You can also use the tool tracker to set due dates or even forbid users from checking out a tool if the item is past-due on scheduled maintenance.
A good tool-tracking platform will permit you to upload photos and supplementary documents for each tool. Documentation can help you monitor the condition of each tool and provide instructions for how to use, clean, or repair it.
Tools experience normal wear and tear over time. A digital inventory management solution will maintain a record of the tool’s age and the depreciation in its overall value. This is an especially helpful feature, as it will guide your decision about when to replace the tool.
For maximum ease and efficiency, your tool tracking database can also include warranty details that specify the proper way to use the tool, as well as instructions on how to pursue repairs for the item.
A dedicated tool tracker will also keep a record of scheduled and unscheduled repairs and the cost of each repair. Having a record of repairs allows you to build these costs into your operating budget and make decisions about the best time to replace various tools.
SmartToolCrib is a powerful web-based tool-tracking system that offers real-time data on each tool in your inventory. Your workers can access this information through their phone or mobile device, streamlining and accelerating your projects and improving inventory visibility.