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August 10, 2020

Stop Tool Theft and Improve Efficiency With Tracking Technology

toolopsVirtually all construction companies experience a loss of tools and machines every year. While some get stolen outright, others are simply misplaced.

Tool and equipment theft at construction sites is a serious problem, especially in cities and areas with a high amount of construction work and equipment.

The National Equipment Register’s (NER) theft report shows that in 2016, the states of Texas, North Carolina, Florida, California, and Georgia accounted for 45% of all construction equipment theft reported in the U.S. That means if you have construction contracts in any of these states, you must invest in security and effective tracking tools.

Today, there’s no central database that holds data for every tool or equipment theft. But the yearly estimated cost of equipment theft is between $300 million and $1 billion according to the NER theft report.

You Can’t Afford to Keep Losing Assets

On your construction sites, most of the frequently stolen items include small tools. This is because it is difficult to monitor tools like saws, wrenches, and power drills. While these items are not the most expensive in the store, the aggregate cost of these items eventually adds up.

Within a few years you could spend hundreds of thousands of dollars replacing lost tools. Instead of incurring such losses, you need to implement a tracking solution to automate tool monitoring.

What Are the Benefits of a Tool Tracking Solution?

Tracking your tools with digital systems will prevent theft. While many companies attempt to do this with a traditional spreadsheet application like Excel, it is seldom effective.

Once the tool leaves the store, a spreadsheet cannot help you monitor the physical movement of the tool from one place to another. But with a reliable tracking system like Sage ToolOps, you can use RFID and bar codes to monitor the movement of your tools in real-time.

Here are some of the main benefits your construction company can derive from a reliable equipment tracking solution.

1. Transaction Automation

Using a tracking system like Sage ToolOps allows you to quickly identify items. When your store managers need to find an asset, they can hold their RFID reader, walk through the store, and select the right tool.

After finding the right item, the computer reads the RFID scanner input, obtains details about the recipient of the tool, and creates a log for the item released.

Automating tool check out will greatly reduce the time and labor needed to release tools from the store and return them.

2. Better Inventory Management

Effective tool tracking improves visibility and makes inventory management easier and faster. It is only when you have up-to-date inventory data that you can determine the tools you need to restock.

RFID allows you to gather actionable data such as seasonal utilization trends, usage levels, and the time it takes for tools to be returned. With this information, you can avoid stocking tools that will not be used or keeping tools that can be stolen easily because they remain in the store for a long time.

3. Prompt Equipment Returns

Using a tracking tool with RFID support makes it easy to monitor tool returns. With the touch of a button, you can confirm whether a tool is still in use, if it has been returned, and how soon it was returned after the last usage.

The accuracy of RFID-based check out and check in procedures makes it easy to keep track of the last person who collected a tool. If the tool is returned damaged or not returned at all, you know who to hold responsible.

4. Automated Tool Counting

Regularly counting your stock is an essential part of managing tool inventory. But counting tools manually can be strenuous and time-consuming. Writing serial numbers down with a clipboard is also an error-prone process.

If you have thousands of tools in your warehouse, you need a more efficient system to keep count of them. Using the Sage ToolOps Enterprise version allows you to cut down on unproductive man-hours used to manually collect inventory and tool usage data. With an RFID scanner, your staff can stroll through your warehouse and collect information on hundreds of tools in minutes.

5. Consolidation of Asset Data

Managing tool data across many job sites is tough. You have to keep track of hundreds of assets with different brands, models, and sizes. If each job site is keeping a separate Excel spreadsheet, it leads to the maintenance of data silos. Managers will have a hard time pulling data together to report on asset data.

A cloud-based solution like Sage ToolOps can integrate all tool tracking and help you bring together all data captured from each job site or warehouse. This allows you to use a dashboard with full tool and equipment visibility, get the historical view of each item’s usage, and confirm the location of each item.

6. Instant Access to Utilization Reports

Tool and equipment utilization reports are valuable for planning and evaluation. You and your team can view the tools that are used in different geographical locations. Then, you can make smart decisions about renting, acquiring, or selling tools based on their level of utilization.

You can also use your usage reports to find out how many tools are lying on the shelf for months and consuming storage space without performing any function in the field.

After you implement a tracking solution like Sage ToolOps, your reports will be available as soon as you need them. Your warehouse staff won’t have to go through many spreadsheets or sift through dozens of papers to prepare them.

7. Prevention of Theft

With a RFID enabled tracking system, you can reduce tool theft to the bare minimum. Using RFID scanners for theft prevention will make it easy to create boundaries around your job site.

Also, because you have instant access to the details about each tool, users will be more likely to handle them with care and return them promptly. You can also set up a mobile alert system to remind your staff about any tool that’s yet to be returned.

Contact Us Now for a Sage ToolOps Demo

Call us now to schedule a free demo. We will show you the features and benefits of the three different versions of this tool and how you can prevent theft, improve warehouse efficiency, and lower costs on tool and equipment management.

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