HOW DO YOU KEEP TRACK OF EQUIPMENT IN YOUR BUSINESS?
HOW TO KEEP TRACK OF TOOLS, Plant & EQUIPMENT
Keeping track of inventory will be difficult if your company employs a lot of tools, plant and equipment.
Individual equipment monitoring becomes a key priority for the company, from tiny instruments like hammers to saws and large equipment like rollers/cement mixers.
Deviations from the record might cause a project’s completion to be delayed. Shutdowns, Turnarounds, and Outages (STOs) are caused by tool data irregularities, and the cost of completing a project might be 3-4 times the actual cost.
Why Do Tools Go Missing?
Tools can go missing in all sorts of ways, but let’s take a look at the three most common ways equipment and tools go missing.
Tools have been moved: Perhaps the tool is still in storage. However, it may have been transferred without anyone’s knowledge, or it may have been placed in the wrong position after being used, in which case it will be classified as lost.
Theft/Misplacement: The Tools were taken to site and never returned, misplaced or lost. No accountability to the employee for the equipment.
The log is not recorded correctly: If the log sheet indicates that the tool has been supplied but it is still on the premises, it will not be utilised if a necessity exists. People will seek for the tool if someone is using it but the log sheet indicates that it is available. This will lead to confusion, a halt in activity, and the waste of valuable time.
What’s The Best Way To Keep Track of Tools, Plant & Equipment
Pen and paper tracking can work for small businesses, but large businesses need to employ an asset management or inventory management system to keep track of their assets. It lowers inventory mistakes and improves tool safety.
You may create a real-time asset tracker to go along with the tagging system for more exact data.
Benefits of an Asset Management System
- 360 degree view of all your assets
- Reporting across all departments financial, Usage, Contracts, Maintenance
- Customisable dashboards
- Free Mobile App
- Fantastic check in check-in/check-out system ensuring accountability for missing tools and equipment.
The Best Asset Management Software for Businesses
Our fixed asset management software gives your business a 360-degree insight into your physical assets including location, who is responsible for them, physical condition with photographs, geo-stamped location, cost, depreciation cost, lifecycle, and more. Book a demo now to learn more.
Dynamic and intuitive, CASM securely tracks, manages, and maintains your fixed assets from procurement to retirement, driving the continued success of your business. Have a look at our special features to track fixed assets within your business.
Fixed Asset management or tagging utilising Barcodes, QR Codes or RFID tags can all be managed within CASM. IT Asset management with the CASM PC agent, easily deployed on your network the pc agent can return details of hardware configuration and equipment serial number within minutes, track hardware changes. Link warranty, contracts, and support agreements to your Physical assets.
Stay in control of your tools & equipment and Get in touch today.
Manage your fixed assets from as little as £62 per* month.
Benefits of CASM’s Asset Tracking Software
Fixed Asset Tracking with CASM to help your business.
