How A Small Tool Tracking Software Helps Your Construction Firm Save Money

small tool tracking software for construction profitsSmall tool tracking software: A must-have for construction industry

If a main construction vehicle rolls to a stop all of a sudden or a conveyor at a construction site stops moving, how do you go about avoiding such a major shutdown in your operations? Unfortunately, more focus is given to large and expensive equipment like cranes and dozers in the construction industry rather than small tools and consumables which are found in larger quantities compared to heavy equipment. Small tools have big roles to play in construction projects. For instance, you cannot weld anything without welding rods or perform carpentry tasks without hammers. Most of the time, small tools are used carelessly, stolen or misplaced.

There are so many companies that really don’t care to perform tool management in order to track tools that help in repairs and fixes. Such tools include jackhammers, multimeters, drills and other things that keep all your valuable machines running smooth. Whether it is preventive maintenance tasks performed on regular basis or emergency repairs, you have to have small tools at hand to do the repairs and fixes of your critical machines and other assets.

3 ways small tool tracking software streamlines construction projects

Businesses can yield potential savings and cost benefits by utilizing small tool tracking system with barcode technology. Barcode technology has made everything even faster and more accurate because a tracking wand casts its cost-effective spell faster than a keyboard. It is no hidden fact that error associated with barcode tracking is one in 70 million pieces scanned while it can be as high as one in 100 keystrokes with a manual keyboard [Source]. You can improve cash flow, enhance vendor performance, minimize overstocking, maximize labor productivity and reduce manpower requirements. In short, you can easily improve cost-effectiveness.

Every field maintenance group, every contractor, every utility field crew and every service repair department utilizes small tools to do their jobs. Small tool tracking is of immense importance if you want to keep the cost of operations in control and the best way to do it is by using a small tool tracking solution.

We have gathered ways a tool inventory app prevents your valuable money from gushing away and keeps construction operations lean in the construction industry.

1. Prevents loss, misplacement, and theft of the tools

Lost or misplaced construction tools can actually result in big monetary losses for construction companies and this happens to be one of the most obvious pain points that a small tool tracking software sorts out. With this tool inventory solution, you will be able to practice more autonomy over all your tools and equipment. You can set an accountability system in place to always know how your tools are being used, who checked the tool out last, where the tools are and know which tools were not returned on time. The tool tracking data accumulates over time and managers can use this information to find out which employees are misusing tools and who needs more ‘how-to-use-this-tool’ training.small tool tracking software for work orders

Whether it is grinding metal or drilling holes, tools are crucial to perform day-to-day tasks.

Construction and manufacturing industries certainly cannot do without certain tools that are used to fix or repair assets throughout the production line. No matter what the size of business, a tool tracking system can be critical for your daily tasks as it offers effective oversight. You can not only track your valuable tools in a warehouse and storage location but also multiple construction sites where tools are more vulnerable to misplacement, theft, and loss. You don’t have to invest into various security methods for your tools on-the-go. No need to hurt your business financially with no tracking system in place because transport of tools across multiple construction sites just gets even easier.

You can even check-in and check out tools by scanning tools with the help of barcode technology. The central database is automatically updated as tools change location and are checked- in/out. Employees get to have access to real-time information including usage history, tool inventory reports, complete PO transactions and the current location of all the tools.

Read more: 5 Must-Have Small Tool Tracking System Features For Your Business

2. Keep on top of tool management with maintenance alerts

Running out of tools and supplies in the most unfortunate moments costing your business extra money? Don’t lose hope just as yet. Small tool tracking software will not just keep you from running out of tools and other supplies but you will also be able to collect data over time. This will offer managers with business insights helping them to make tough business decisions and increase cost savings. You can set reorder points for all your necessary tools and other inventory, for construction sites and storage locations. All this can be done by drafting purchase orders and setting low thresholds on inventory. You can receive alerts as soon as the inventory goes below reorder point.

There comes a time when tools become more costly to fix and their replacement tends to be a cheaper option. The construction industry is no fairy tale where you say reparo and everything get automatically fixed. You need to get real – as the replace versus repair decision becomes more of a guess in the absence of previous repair data on a certain tool. With maintenance history, you can figure out how much it costs to maintain a certain tool and find out the expected lifespan of that tool.

Preventive maintenance can be a lot cheaper than corrective maintenance. For instance, if there is a sudden equipment failure and it requires immediate repair, but unfortunately tools required to fix the equipment aren’t in a good shape either. Imagine the financial loss you are bearing! Generating automated maintenance alerts and sessions for all your tools prevents you from raging havoc over your set budgets. Businesses with a tight budget are not looking for extra expenses to get rid of dysfunctional inventory. Tool tracking solution helps you stock at the right time along with helping you manage all your vendors.

Read more: How to Shortlist an All-in-One Tool Inventory App for your Business

3. Increased lifespan of tools and easy reservations

Having the knowledge of tools that are active or not takes you a long way towards preventing your company from throwing away your money on buying or renting unnecessary tools. Whenever a project is completed, process documentation is needed as per the formal routine. It requires data on tool utilization to help the company identify bottlenecks, streamline obstructed workflows and make even better future decisions on projects. Construction companies send out their teams to different sites all the time accompanied with tractors, bulldozers, jackhammers and other machinery. Every piece of tool and equipment is a valuable asset that should be accounted for.optimize asset life with small tool tracking software

Let your tools have an optimized life with small tool tracking software.

Now, why do you think check-in and check out feature of tool management solutions are such a rage in the construction industry? That’s because they fuse so well with construction workflows and offer actionable reports to the management. The user-friendly calendar view helps workers reserve tools and equipment for later use. They get to know the ones that are already in use. This prevents duplicate booking of tools and any scheduling clashes hindering your business productivity.

Interested in learning more about our small tool tracking software?

EZOfficeInventory is a leading tool inventory management software used by construction firms around the world to achieve cost savings and more organizational benefits.small tool tracking software for construction

For more assistance, drop us an email at support@ezofficeinventory.com.

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