One of the most important aspects of construction is the tools used to complete the job. Builders and contractors have to know where their tools are at all times for a number of reasons – mainly, the cost if the tools are misplaced and the downtime to find a tool that is needed. Fortunately, there is a solution to track tools easily with asset tracking software from GoCodes.
In the past, contractors and builders relied on spreadsheets or a log sheet to keep up with equipment and tools. While this works to some degree, it makes it difficult to not succumb to human error. Either someone forgets to log something, the writing is illegible, notes are lost, or no one takes the time to find out when and where something was being used.
There are all kinds of issues that arise from not knowing where a tool or piece of equipment is located.
- Costs rise due to having to replace items that are missing
- Downtime is needed to find items or replace them
- Theft may occur when there are no records of who took and item and used it
- Being able to track inventory means better records for tax purposes, business reports, and insurance purposes
For instance, a construction job needs certain tools to get the job done. By being able to track the whereabouts of specific tools and equipment, the contractor knows exactly what is needed to be bought in addition to what is on-hand and knows if there are enough tools and pieces of equipment for the number of employees that are used for the job.
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Reduction in Theft
Let’s face it, theft happens in the workplace in record numbers. According to Employee Theft Statistics from Statistic Brain, the percentage of annual revenues lost to theft or fraud is at 7%. That may not seem like a lot but the numbers add up, especially when it comes to your bottom line. Bankruptcy numbers caused by theft in the workplace is a staggering 33% so it pays to be able to track every tool or piece of equipment you have because it’s not just losing the item but the cost of extra time to locate a replacement and the downtime it can cause due to lack of equipment or tools.
Here are just a few of the ways that barcoding helps in construction with tools, equipment, and inventory:
Data Entry Time
Instead of having to enter information by hand about a tool or piece of equipment, a bar code scanning system is reliable and fast. You simply scan the barcode at a fraction of the time it takes to key in the data on a touchscreen.
According to statistics, human error when keying in data is approximately one error every 100 or so characters. When using a barcode, the error rate is about one error per 3,000,000 characters.
Integrity of Data
Often it happens that if something takes too long to do, it becomes overlooked or not done at all and this happens when items have to be entered manually. By using a barcode system, the data entered happens at such a fast rate that there is no reason for it not to be done and your tools and equipment are always tracked.
By scanning in all of the equipment and tools that are available, there is always a record of where the item is. It can be checked out easily and there is no need to ask who has what item or when it was being used. This ensures that your inventory is always kept properly and you never have to look for an item’s whereabouts.
If you want to learn more about how to track your tools and equipment, contact us at 1-800-513-5778 or try out our demo for free.