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20 Tips for Improving Construction Asset Tracking
This blog will cover how by using web-based construction asset and inventory tracking software, construction companies can gain greater visibility and control over their assets, improving efficiency, productivity, and profitability.
Construction web-based asset and inventory tracking software is a type of technology that helps construction companies track their assets and inventory in real time. This innovative software typically utilizes various technologies, such as barcodes, RFID, GPS, and cloud computing, to monitor the location, usage, and condition of construction equipment, tools, materials, and supplies. In addition, the software typically includes features such as inventory management, equipment tracking, maintenance scheduling, and reporting.
By using web-based construction asset and inventory tracking software, construction companies can gain greater visibility and control over their assets, improving efficiency, productivity, and profitability. In addition, the software can help companies reduce equipment loss and theft, optimize the allocation of resources, reduce costs and downtime, and ensure compliance with regulatory requirements.
Overall, construction asset and inventory tracking software can help you optimize operations and achieve better project outcomes. If you are relying on antiquated methods for managing inventory, it’s time innovate.
Below are 20 tips for improving your ability to track assets for building effectively and some of the benefits for staff heavily reliant on assets to build successful projects.
- Single source of truth for keeping track of all assets, including equipment, tools, and materials.
- Assign unique identification numbers to each asset to quickly identify and track them.
- Use GPS tracking to monitor equipment and vehicles in real time.
- Implement regular maintenance and inspection schedules for equipment to ensure optimal performance and longevity.
- Develop a comprehensive inventory management system that tracks the movement of materials and supplies.
- Conduct regular physical inventory checks to reconcile asset data with the actual inventory.
- Utilize RFID or barcoding technology to automate data collection and reduce errors.
- Train employees on proper asset handling and tracking procedures.
- Establish a system for reporting lost or stolen assets and conducting investigations.
- Keep accurate records of asset depreciation for tax and accounting purposes.
- Use cloud-based storage to keep track of asset information, including maintenance schedules, repair history, and warranty information.
- Implement a system for managing rental equipment and tracking usage and costs.
- Create an asset disposition plan to determine when to retire or sell equipment and tools.
- Use data analytics to identify trends and make informed decisions about equipment and material purchases.
- Implement security measures to prevent theft and vandalism of assets, such as cameras and fences.
- Conduct regular training on safety procedures and protocols to prevent accidents and asset damage.
- Implement a system for tracking fuel usage and costs for vehicles and equipment.
- Assign responsibility for asset tracking to specific individuals or departments to ensure accountability from check-out to check-in. This especially important when employees leave positions.
- Conduct regular audits to ensure compliance with regulations and policies.
- Continuously monitor and evaluate asset tracking procedures and adjust to improve efficiency and accuracy.
What are the benefits of construction asset tracking for the Back Office, Warehouse Managers, and Field Supervisors? Many of the benefits cross-over to positively impact the entire construction business.
Back Office Staff
The Back Office using construction asset tracking brings several benefits, including:
- Improved Inventory Management: Construction asset tracking enables the back office to keep track of inventory levels and usage in real-time, which helps ensure that equipment and materials are available when needed and reduces the risk of stockouts.
- Reduced Costs: Asset tracking can help identify inefficiencies and reduce waste, such as over-ordering materials or unnecessary equipment rentals, ultimately leading to cost savings.
- Better Resource Allocation: By tracking the location and usage of assets, the back office can better allocate resources to specific job sites or projects, which can help optimize scheduling and reduce downtime.
- Enhanced Planning and Decision Making: The data collected through asset tracking can help inform better planning and decision-making by providing insights into usage patterns, maintenance needs, and performance metrics.
- Improved Compliance: Asset tracking can help ensure compliance with regulatory requirements, such as safety regulations and environmental standards.
- Increased Accountability: Asset tracking provides a clear record of who is responsible for each asset, which helps promote accountability and reduce the risk of theft or mismanagement.
Construction asset tracking can help streamline back-office operations and provide valuable insights into asset usage and performance, improving efficiency, reducing costs, and better decision-making.
Warehouse Managers
What are the benefits of construction asset tracking for Warehouse Managers?
Construction asset tracking can provide several benefits for the warehouse manager, including:
- Improved Inventory Management: Asset tracking enables the warehouse to keep track of inventory levels and usage in real time, which helps ensure that materials and equipment are available in real-time and reduces the risk of stockouts.
- Increased Efficiency: By tracking the location and usage of assets, the warehouse can optimize the organization of materials and equipment, reducing time spent searching for items and improving overall efficiency.
- Enhanced Security: Web-based asset tracking helps prevent loss or theft of materials and equipment by providing real-time tracking and monitoring of the assets.
- Better Maintenance Scheduling: Warehouse managers can easily keep track of maintenance schedules for materials and equipment, ensuring that they are properly maintained to prevent failures and in good working condition.
- Reduced Downtime: By tracking the location and usage of assets, the warehouse manager can optimize the allocation of resources and reduce downtime, leading to increased field productivity and project profitability.
- Improved Compliance: In states where compliance matters, web-based asset tracking software can help ensure compliance with regulatory requirements, such as safety regulations and environmental standards.
- Increased Accountability: Web-based asset tracking software provides warehouse managers a clear record of who is responsible for each asset, which helps promote accountability and reduce the risk of theft or mismanagement.
Overall, construction asset tracking can help warehouse managers take inventory management to the next level, increasing efficiency, and improving security, leading to reduced operational costs and reduced risk.
Field Team Supervisors
What are the benefits of construction asset tracking software for Field Supervisors?
Construction asset tracking software can provide several benefits for field workers, including:
- Improved Resource Management: Web-based asset tracking software provides field supervisors real-time data on the location and availability of assets, enabling field workers to quickly identify and locate the tools and equipment they need to complete their tasks.
- Reduced Downtime: Avoid downtime by providing real-time maintenance alerts and ensuring that equipment is always in good working condition.
- Increased Productivity: By providing real-time access to asset data, field supervisors and jobsite team leads can optimize the allocation of resources, reduce time spent searching for materials and equipment, and improve overall productivity.
- Enhanced Safety: Asset tracking software can help ensure that equipment is adequately maintained and in good working condition, reducing the risk of accidents and injuries on the job site.
- Improved Communication: Empower and enable your field team to communicate more effectively with the back office, the warehouse, and other workers by providing real-time asset usage and availability updates.
- Better Planning and Decision Making: By providing insights into asset usage and performance, web-based asset tracking software can help field supervisors make more informed decisions and optimize project planning and scheduling.
- Increased Accountability: Web-based asset tracking software provides a single source of truth of asset usage, which can help promote accountability and reduce the risk of theft or mismanagement.
Web-based construction asset tracking software can help field leaders optimize resource management, increase productivity, reduce costs, and enhance safety, improving project outcomes and reducing risk.
Take Control of Your Inventory
Simplify inventory management between your jobsites and tool rooms with the TOOL CONNECT™ system featuring Site Manager. With the ability to track tools and review automated reports, this software provides an easy-to-read overview of inventory health.