Tool Hoarding – Big Problem, Simple Solution

In Tool Tracking Blog by Chris Wirtz August 7th, 2019

Tool Hoarding – Big Problem, Simple Solution

Lots of effort usually goes into managing the labor on a job but often much less focus is spent managing small tools and equipment. If tools aren’t where they need to be, the costs begin to grow as labor time is wasted waiting or trying to locate the needed tools.

Too often, the remedy to avoid not having a specific tool is “hoarding” them just in case they’re needed. This of course results in higher costs and more company-wide time wasting. Tool hoarding is a common occurrence in construction, but fortunately there’s a sure way to slow it down.

The hoarding disruptor

An incredible amount of time is wasted by tool hoarding, as superintendents spend endless hours hiding and protecting their tools “just in case” they need them. While that’s happening, the warehouse manager wastes valuable time chasing tools down and trying to determine who’s using – or hiding them. It’s a vicious cycle to say the least – and a big source of money going out when it should be coming in.

With tool hoarding disrupting the flow of construction operations, contractors are looking at new ways to manage their tool inventories. With spreadsheets becoming too complex to manage and often riddled with errors, contractors are now investing in small tool management systems via “apps” downloaded on company smartphones and tablets.

Contractors from coast to coast are seeing the light. In an article published in Construction Business Owner, the author writes, “An automated tool control system can reduce the burden of labor shortages by allowing you to run a tool room with fewer staff and save money by not having to replace lost or stolen tools nearly as often.” Tool tracking quickly gives you control over:

 

  • Reduction in tool hoarding and equipment losses
  • Tool control and inventory reconciliation
  • Time saved during tool check-in and check-out
  • Time saved by not searching for misplaced or lost tools
  • Increased productivity because workers can find the right tool at the right time

 

Simplify with tracking

So, how would tool tracking benefit your company? After deploying a tool tracking solution, you’ll:

  • Be able to assign tool responsibility to individuals
  • Find it easier to transfer responsibility when a tool moves from person to person
  • Give everyone in your organization the ability to easily search for tools and see who has what
  • Eliminate the possibility of tools sitting idle
  • Save some real money

Longer Article on how to stop Tool Hoarding

If you’d like to learn more about modern tool tracking applications check out ShareMyToolbox or call, 866.768.8665.

Click here: to see How our Tool Tracking App Works.

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