What is a Tool Tracking System?

What is a Tool Tracking System and Why Should You Implement One?

A tool tracking system is a software that gives information about the tools and equipment that a company owns. The system allows businesses to see the location, who is using them, quantity, condition, maintenance, and history of their tools (assets). It typically involves tagging tools and equipment with an RFID tag or barcode (asset tagging), cloud-based software, laptop, smartphone, and a handheld RFID scanner.

 

“who stole the” or “who lost the”…… 𝑁𝐸𝑉𝐸𝑅 𝐻𝐸𝐴𝑅 𝑇𝐻𝑂𝑆𝐸 𝑊𝑂𝑅𝐷𝑆 𝐴𝐺𝐴𝐼𝑁!

 

Why Should You Implement a Tool Tracking System

When a tool tracking system is implemented thoroughly and attentively deployed, the investment is well worth it. An organisation’s assets are put to full use, employees have more accountability, and staff are all on the same page.

By harnessing tool tacking technology, even the most out-of-the-way and isolated worksite is connected to every employee who needs to access it in order to meet his or her job expectations.

On the flip side, with no tracking system in place, companies are at high risk of theft and lost tools/equipment, which are expensive to replace, plus they will be subject to inaccurate inventories and financial records.

Companies constantly face challenges when it comes to their tools and equipment. Commonly when a tool leaves the work shed, most businesses have no idea about the status of their tools:

  • When is it coming back?
  • Who is responsible?
  • What job site it is on?
  • What condition are my tools in?

Having employees search for tools is a waste of company time and spending money on replacing them is very expensive. Many of these purchases are not necessary if you know where your tools are located. Having an accurate inventory of the tools and equipment you have on hand is vital to your company's bottom line.

How a Tool Tracking System Can Help You

  • Reduce lost tools and equipment
  • Optimise communication
  • Schedule maintenance / Improve safety
  • Stay compliant
  • Tool tracking audits 

Reduce Lost Tools and Equipment

Tools and equipment are extremely important and a huge part of being able to run your business.  With a tool tracking system, you can “check in and check-out” tools to locations, such as job sites, or to people.  This provides your company with an accountability report to know what tools are assigned to which location or person at any given time. This helps hold the employees accountable and lowers the chance of lost and unexplained damage to company assets that leave your facility. Also greatly reducing the theft of tools.

 

Schedule Maintenance / Improve Safety

Schedule prevention maintenance for customer and company equipment, to keep them performing at peak performance and continue the incoming of business. With tool tracking software, you can automate this process to ensure you never miss scheduled maintenance.  Scheduling prevention maintenance is extremely important to reduce down-time on equipment, and even more importantly, to ensure the tools and equipment are in proper working order to eliminate any safety concerns to employees.

 

Optimise Communication

Having a cloud-based system allows all employees to be on the same page.  Any activity that is taken on an asset, such as adding, editing, or performing inventory scans, is updated in real-time for everyone to see. A could-based software allows employees to upload documentation, view asset history and access any information they need directly from their smartphone or tablet.

 

Stay Compliant

Tool tracking system can assist greatly in staying compliant with your federal and state regulations. A cloud database tool tracking system houses all the information regarding your tools, equipment, and machinery. It shields sensitive asset data from unauthorized users and misappropriation using passwords. The universal access to the cloud-based software allows audit processes whenever regulatory authorities demand of them. In addition, companies seeking ways to improve regulatory compliance have a wealth of data to analyse.

 

Tool Tracking Audits

Implementing RFID with your tool tracking system allows for a more efficient inventory audit. Being able to bulk scan your tools and equipment with save you time and money. For example:

  • Bulk scan a work ute headed to a job site
  • Work shed/ warehouse inventory where you store your tools, equipment and machinery
  • Scan an entire job site before and after you start work

With RFID, you can capture all tags that designated for each specific area where you are performing an inventory scan.

If you need RFID tags, ask us or visit the AssetTrak Shop

 

 

Conclusion

A tool tracking system is essential for companies and organisations with assets that are on the move. When properly implemented, tool tracking saves time, money, and stress. There is no better time to start tracking your tools or begin looking into your current processes to see where you can improve. By choosing thoughtfully designed software with a flexible, user-friendly asset tagging system, tool tracking will serve you as well as the tools themselves.

 

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