Fleetio Blog 4 Ways to Improve Tool Inventory Tracking

Implementing a tool inventory tracking system ensures you stay informed of tool assignments and maintain accurate counts on your power tools and small equipment. What Do the Best Tool Inventory Tracking Systems Offer? No matter how many tools you manage, tool inventory tracking is essential. Keeping your tools and small equipment organized ensures you know when, where and how your tools are being used. Many fleet managers struggle with monitoring tool inventory due to a lack of real-time tool visibility. Whiteboards and spreadsheets don’t provide comprehensive insight into your tools, and they often cause inefficiencies due to inaccurate data. Though manually tracking tool inventory is cumbersome, there’s an alternative solution. Tool tracking software allows you to automate inventory counts and track tools in real time. A web-based tool inventory tracking system allows managers complete visibility into tool location and assignments. With comprehensive visibility, you can monitor productivity and keep your team accountable when tools are lost or damaged. Here are a few ways you can improve your tool inventory tracking system. 1. Increase Accountability With Tool Assignments Managing tool assignments with unorganized whiteboards and paper cause confusion that impacts your team’s productivity. If you’re managing tools across multiple jobsites, this can be even more cumbersome, as you have a limited view of tool location and availability. Using a web-based tool inventory tracking system to manage assignments is the best way to keep your team informed. Managers can assign tools in software, and team members can instantly view assignments in a mobile app. Tool assignments allow users to see which tools are available, in-use or out-of-service. Because you may not be at the jobsite to answer questions, this level of clarity keeps your team in sync. Tool tracking software also boosts team accountability by giving operators a sense of ownership and responsibility. When a tool is missing or damaged, managers can access a complete audit trail of use and act accordingly. 2. Leverage a Mobile App for Simple Tool Checkouts Your team is on a tight schedule, and wasting time with paper tool checkout forms can slow down their workday. Simplifying tool checkouts with a mobile app is the best way to keep your team productive and on schedule. The best tool inventory tracking software allows users to check-in and out tools quickly via mobile app. Your team can access tool availability and assign tools to themselves instantly. Instead of bulky barcode scanners, users can scan barcodes, QR codes or Near Field Communication (NFC) tags with their mobile device. Once scanned, they can quickly assign themselves to a tool and start their day. Learn more about NFC and its benefits for fleets here. Managers can access tool assignments in real time to monitor productivity and track which tools are currently in use. Having complete insight into tools and equipment ensures you can effectively manage every aspect of your operations. 3. Maintain Accurate Tool Inventory Counts Do you know exactly how many tools you manage? While most managers would answer yes, inaccurate tool counts are more common than you think. Without an accurate tool inventory count, you may not realize when tools are lost until you need them—causing downtime while you run to the hardware store. On the opposite side of the coin, you may have forgotten tools that could be utilized to boost productivity. Managing tool inventory tracking with static spreadsheets results in outdated information and inaccurate numbers. Leveraging tool tracking software automates inventory counts and allows you to easily update numbers in real time. By storing every detail of your tools in a centralized software, you can ensure your tools stay organized and are used effectively. Managers can track value, status, location and other data in their dashboard to maintain a close eye on inventory. Routinely comparing physical tool counts with current data ensures your software is up-to-date and all tools are accounted for. Managers can edit tool details and values as new tools are acquired and old tools are disposed of to keep information current. 4. Track Tools Across Multiple Locations As we mentioned earlier, fleet managers aren’t always on-site to monitor assets. With such a busy schedule, mobility is essential when it comes to tool inventory tracking. Leveraging tool tracking software keeps you informed where, when and who is using your tools. Instead of sorting through spreadsheets or traveling to jobsites or warehouses to track down missing equipment, you can maintain a comprehensive view of inventory from anywhere. One of the most powerful features of tool tracking software is the ability to track both current and historical tool data. Maintaining a complete record of historical data allows you to create an audit trail of usage, improving accountability and helping you understand how tools are utilized. Managers can create configurable reports to share with stakeholders regarding tool value, assignments and more. Having all tool data at your fingertips allows you to make the best decisions regarding future operations. Get a bird’s eye view of tool inventory with Fleetio! Start your free trial or request a demo today!