Every business relies on tools and equipment to carry out its daily tasks. Losing track of these assets can create serious issues such as production delays, safety risks and unnecessary expenses. All these problems can be solved only if businesses know how to keep track of tools and equipment in the right way. A tool tracking software is a smart technology for monitoring, managing, and tracking all assets in real time.Â
In this blog, we will explore details about a tool tracking system, basic features and why businesses should invest in it.
What is a tool tracking system
The tool and equipment tracking software is an advanced way to track your tools. It is built on barcode technology that uses labels to track down tools even during remote field projects. Once the tags are scanned into the system, a repository can be created with niche details and even specialized images. All this information can be arranged in an organized manner, easily accessible to anyone using the software.
How to track tools and equipment using technology
According to a research, workers spend 47% of their time tracking tools. This often happens due to inability to properly tag and track tools during use. A tool management software uses three main types of tracking technologies. In order to choose the best for your business, you need to understand how each technology functions.Â
Here are three types of tool-tracking mechanisms you can work with:
RFID tags
Radio Frequency Identification (RFID) tracking system makes use of electromagnetic fields to trace tools. RFID tags store asset data in electronic form and emit it to the readers as radio waves.
RFID tags have a greater discovery range than barcode labels. An asset does not necessarily have to be in direct contact with an RFID reader to be discoverable. However, the RFID tracking system has a downside too.
It is not suitable for use in environments with heavy electromagnetic fields as they may disrupt the radio signals. RFID tags are generally more advanced than barcodes. They can be used to check in or checkout items in bulk quantity.
Barcodes
Barcode labeling is the most widely used tool-tracking mechanism. It offers a diverse range of benefits. Barcode labels are easy to design, print, and scan. They are also the most affordable option available in the market.
In comparison to manual data entry, barcode scanning eliminates the possibility of human error for check-in and checkout. Barcode labeling proves extremely helpful in tracking the location, usage, and levels of your small handheld tools.
GPS
Industries that run multiple projects on remote sites generally have to work with mobile tools and equipment. An example is the construction sector—companies dispatch equipment like jackhammers, forklifts, and various masonry and tile-cutting tools to different sites.
Tracking mobile tools like these requires a system that can pinpoint assets wherever they are. An ideal mechanism in this situation is a GPS tracking system that can be used via API on your employees’ mobile devices.
Why do you need to keep track of tools and equipment?
Tools and equipment are critical for business performance and need to be managed properly. Businesses using a tool tracking system can take advantage of certain perks:
1. Stay compliant
The cloud database of a tool tracking system houses all the information regarding your tools. It shields sensitive asset data from unauthorized users and misappropriation using passwords.
The uninterrupted, round-the-clock access to this cloud facilitates audit processes whenever regulatory authorities demand them. Increased asset and user visibility also ensure that your business is compliant with federal regulations.
2. Easy scaling
The scalability of a software system is a major concern these days. With the ever-increasing customer base, most businesses are continuously expanding to cater to the demands of the market.
Most growing companies are often held back by legacy tool-tracking systems that need significant infrastructural changes to scale up. Advanced tool tracking software offers both storage and infrastructural flexibility.
3. Organized warehousing
A tool tracking system saves you from flustered employees and cluttered warehouses big time! It smartly sifts and sorts your tools by their users. You can group each of your tools by department usage and clock in their assigned bin location in the system.
Let’s say, the system may depict that tools for use by the security department are stored in shelf ‘X’ of warehouse ‘Y’. This means your staff does not have to scurry around looking for the stuff they need.
They can just see where a certain piece of equipment is and get it when the need arises.
4. Performance ReportsÂ
It can be overwhelming to track each and every tool in the kit through Excel sheets and manual graphs. A tool tracking system provides an easy way to avoid the hassle and achieve accurate results. It uses the information entered for each tool and combines a performance report including procurement, disposal, maintenance costs, and frequency of use. Such reports can be presented in business review meetings to analyze cost and project management.
7 Ways to keep track of your tools and equipmentÂ
For a businesses figuring out how to keep track of tools and equipment, an automated system can simplify the whole process. It offers features such as barcode tracking, and maintenance management. Let’s look at some of the prominent features and how they can help businesses track their tools:
1. Asset lifecycle management
Tool tracking software tracks the usage and working condition of your tools right from the time they are procured to when they are retired. It lets you keep tabs on purchase orders, vendors, depreciation expenses, and maintenance histories.
By calculating the lifetime upkeep costs of your tools, you can make informed decisions on whether to invest in them or not. You can also determine a time for asset retirement so you do not have to deal with frequent breakdowns and unnecessary repair costs.
2. Check-ins and checkouts
Tools and equipment are likely to be used frequently by users inside and outside the workplace. Recurrent usage can result in misplacement and loss of items if not tracked properly. To counter this problem, a tool tracking system scans asset tags to check out items against users to maintain accountability. Real-time data about tool ownership improves the transparency of your business operations.
It also pulls down the chances of theft and tool misplacement. Every time a tool is checked out, a user trail is created. Admin or supervisors can trace this trail of users to identify which employee is using a certain tool at a certain time for what purpose.
3. Reservations
Timely tool availability is key to ensuring all your projects finish on time and events happen without a hitch. However, without a proper reservation system in place, your business can suffer from delays and last minute cancellations. With hundreds of tools being deployed at various job sites, conflicted bookings of the same tool can meddle with your operations.
You can avoid this by using tool tracking software. It comes with an easy-to-scan dashboard calendar. This calendar shows the availability status of each of the tools during a specified time period.
This way you can reserve tools that have not been reserved for other projects happening at the same time. In case the item you want is already reserved for another event, you can go ahead and sub-rent it from one of your partner vendors for the time being.
4. Maintenance scheduling
Tool tracking solution comes equipped with a maintenance module. It keeps an account of the repair histories of all your tools and automatically schedules them for service when their performance drops.
The system alerts users when tools are sent in for maintenance so they can plan their activities accordingly. Tool tracking system aids with preventive maintenance of your assets. It drastically reduces equipment breakdown instances and keeps your daily operations running.
5. Procurement
Most tools a company has to work with have consumable components. Running out of these components at a job site is the last thing you want. These inconveniences, although minor in appearance, can pile up and decelerate your projects more than you can expect.
You can prevent unexpected shortfalls by automating the procurement of your tools. You can specify inventory stock thresholds by using a tool tracking system.
Whenever the stock level of your consumables touches this threshold, the system sends automated purchase orders to your vendors. This feature replenishes your stock before you fall into any inventory gaps.
6. Custom roles and teams
Custom roles and team profiles enable greater accountability and structure in tool tracking. When a tool is required for a job, it is simple to designate it to a particular team member, and it will show up right away on their dashboard. This approach makes sure that no work assignment is ever forgotten or ignored. Role-based access also limits access to information that isn’t necessary for technicians to perform their job and guarantees that each person gets access to the information they require. Custom roles maintain dashboards tidy and uncluttered while safeguarding sensitive data.
7. Mobile access
The best tool-tracking software is also accessible on the go. Having cloud-based data storage is an added benefit and so is mobile accessibility. It helps to decrease wrench time – time spent in the field to locate the assets.
Technical teams can take care of the orders on the go without the need to double-check back and forth for every assignment. Employees will have to spend less time on administrative and organizational tasks while they take on more orders.Â
Getting started with a tool tracking system
Using an automated system to track your tools and equipment can help you save time and reduce the manual effort spent in chasing down lost items. Here is how you can get started:
List inventory
The first step is to compile a list of each and every tool your business owns. This can be done with the help of an inventory management system. The best course of action for the majority of firms is to use an inventory system. Mainly because of the automation the system provides to make tool tracking convenient. tool tracking is made easier by the
Add barcodes and QR codes
You should create barcodes and QR codes for each item on your inventory list after you’ve put it together. This step can only be completed if your inventory management system supports the scanning of barcodes and QR codes.
When employing inventory software, staff members can quickly update quantities, modify item data, or move an item by simply scanning the tool’s barcode with a smartphone. Workers can check tools and equipment in and out, providing a clear record of who owned what and when. The app makes it simple to create and print barcode labels as well as sync data from an existing barcode.
Your staff will be able to easily track inventory as products are consumed, sold, or moved from one location to another once you’ve established a barcode or QR code inventory system. This will assist you in maintaining improved inventory control, particularly concerning high-value goods, frequently used items, and inventory that is moved around a lot.
Categorize tools
Many of your tools likely fit into specific categories, which could further simplify the process of recording and arranging them. For example, every employee probably needs a certain set of tools for their department. There are also specific instruments needed for certain tasks, like drywall repair, hardwood floor refinishing, and demolition.
Track items
All businesses need to track inventory by location, but construction companies—especially the larger ones—need to do so much more. Let’s say you own a construction company that provides services throughout the entire state of Florida. In that scenario, even if your inventory manager never really sees this inventory, you should still be monitoring it at all locations, job sites, and company trucks.
Your building company will stay efficiently supplied and manned if you train your staff to maintain a permanent inventory and accurately update inventory software each time an item is moved, used, or restocked.
Set up a system for reordering
Restocking is a crucial component of the continuous process of managing your tool inventory. You should put up a productive tool reordering system to enable you to place complete orders with confidence.
You can create personalized low-stock alerts to receive notifications each time an item’s stock drops below a predetermined level.
How to keep track of tools and equipment at work: Use casesÂ
Businesses utilize equipment and tools on a daily basis for various tasks. As tools and equipment are categorized as long-term investments, it is a good idea to develop some best practices to use them. Here are a few industries and how they use and track tools:
Contractors and construction
Numerous pieces of equipment, ranging from basic hand tools to power tools, are used in the construction business. Additionally, building sites are frequently exposed to the public and may see a variety of trade teams coming and going. It is a best practice for construction teams to make use of custody management for asset tracking to ensure that no specific tool is misplaced or taken by the wrong team.
Plumbers and electricians
Plumbers may spend the entire day in one place or visit six different residences or places of business, depending on the type of work. This also applies to electricians. They might also be working with several teams on building or renovation projects. Mobile accessibility provided by a tool tracking system can make it easier for plumbers to coordinate and update statuses on the go.
Military
Numerous divisions and operations within the military require tool tracking in addition to weaponry, medical care, and building and vehicle maintenance. The teams must keep track of, maintain and account for the materials for each of these functional domains. For instruments like weapons that have the potential to be lethal, accurate tracking is even more crucial. Here it is important to ensure compliance of tools with the security protocols. A tool management software can store all compliance information alongside asset details for easier accessibility.
Facilities management
Teams in charge of facilities and property management frequently carry out a wide range of tasks using a number of tools. Similar to plumbers and electricians, facilities managers and maintenance personnel frequently operate on multiple sites in a single day. A tool tracking system provides simple maintenance for rigorously used tools to keep them in good share throughout their lifecycle. Â
Track your tools and equipments with a user-friendly tracking system
Whether you are a new business looking to invest in inventory management or an expert in search of an efficient inventory solution, using tool tracking software is your best bet. Not only can you track consumable inventory, such as parts and raw materials, but also utilize smart tracking like QR Codes, RFID tags, and more. Using an efficient tool such as EZOfficeInventory, you can create customizable asset reports whenever you need. This way it’s easier to track, manage, and organize all of your tools and equipment regardless of its location using any device at hand.
