Tool Inventory App
A simple Tool Inventory App is all you need!
The tool inventory app demonstration video below is our latest tool tracking app. We re-wrote this app in 2020 to make it even easier and more functional. Take a look at the demonstration below then navigate to our video demonstration page to see our latest version.
If you think your tool tracking would benefit from our management system then sign up for the free trial or give us a call to discuss the system in more detail. Thanks for checking out ShareMyToolbox!
A Tool Inventory App Should Be Simple
Tool Inventory App a Modern Approach to Tool Tracking.
Tool inventory tracking doesn't have to be hard. Cloud based technology offers easy ways to manage tool inventory.
A lot of money is spent on small equipment and power tools every month. Most dollars are spent in replacing items that were lost or stolen. However, the bigger cost to a company are delays when a tool isn't on a project when needed. Or wasting time when field worker spends hours looking for something on a job site.
Most contractors struggle with tool inventory management. They struggle because they take the wrong approach to the problem. They treat tools as inventory. They have the warehouse manager use the same approach as a consumable item. The approach of treating tools as inventory blends bad accounting with a busy warehouse. This results in a tool program that fails to deliver good accounting or efficient operational tracking.
The solution for companies is to stop mixing the field tracking and cost tracking components of small tool tracking. These are two different problems and require two different processes. Attempts to do one solution for both problems is doomed to fail.
Having a tool inventory app track the management of tools separate from an inventory accounting system delivers better information in both areas. Accounting systems should focus on accounting. Tool tracking systems should focus on location and responsibility for tools. Both systems can be cleaner and simpler when separated.
To solve the small tool costing and billing issues, companies can try a number of different accounting approaches. Allocation of variable tool costs or fixed tool costs can done in modern finance systems. With regular review and adjustments, a finance team can assign and bill cost allocations without requiring additional effort from the operation’s team. A monthly cost applied by job. Adjusted by labor cost or job value is simple to do. An accountant can refine the cost to keep it fair to each job.
It is easy to manage the core operational needs for tool tracking. The accounting issues just need to be seperate. Operationally, a company needs to solve two problems. First, the company needs to know who is responsible for each tool or piece of equipment. Second, the company needs to quickly move tools to the jobs where they are needed. Moving tools from idle jobs to can be simple. Field users just need a way to see what is idle. They can then request those tools.
Tool inventory apps can help with both of these operational requirements. First, a smart phone app can easily allow foreman to transfer responsibility for a tool at the same time they pass a tool from person to person. This keeps the warehouse manager from wasting time chasing tools. The field personnel are automatically updating the tool assignments as the tools move so the office has instant visibility into the entire tool inventory. This is real time management of tool and equipment inventory.
Efficiently moving tools from projects where the tool is idle to projects where the tool is needed can also be helped by technology. The same tool inventory phone app can help a superintendent search for a tool and see who has what is needed. With a couple quick text messages, the field worker can borrow the tool from someone else in the field rather than going back to the warehouse.
A quick text and borrow is far easier than buying a new tool. Thus, the foreman will try to borrow instead of buying which saves the company money. This efficiently transfers a tool from an idle job to a job it is needed on. It is efficient because it shifts the search and selection of the tool out to field personnel. This avoids slowing the process down by office personnel needing to be involved.
Easy to use tool inventory apps are changing construction in many ways. Why not have them also change how your company manages small tools?
To learn how to get started with construction tool tracking read this.
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