4 Ways Equipment Inventory Software Will Benefit Your Construction Company

As a construction company, you rely on your equipment to do the jobs that your clients require. If you misplace or lose track of a piece of equipment, it can mess with the entire workflow.

Making use of an equipment inventory software can help you make the most of the equipment you have on hand. Here are some ways it can help you:

Understand What Assets You Already Have

Even if you only have a few pieces of equipment on hand, trying to keep track of them using only your memory can be problematic. You might know what you have, but your other employees won't. Keeping records in an inventory format is the best way to help everyone understand what kinds of equipment are available for use.

Equipment inventory software can also help you keep track of several equipment details. Your software allows you to track lifecycle information, equipment make and model, as well as maintenance and repair records. In order to make the most informed decisions about your company's equipment as a whole, you'll need to look at all of this data over time in order to identify asset trends.

Track Asset Usage

Some machinery gets used more than other kinds. Whether it's because the function it performs is more needed on a day to day basis, or because your employees prefer the way that machine operates, it doesn't change that some equipment gets used more.

In order to keep up with maintenance and asset replacement, you'll need to know how often each piece of equipment gets used. If you have a machine that is seldom used, you won't have to take that machine in for maintenance as much as a machine under normal usage. On the flip side, construction equipment that gets used more needs to undergo more regular checkups and requires more frequent maintenance to keep functioning.

Locate Equipment at Any Time

Even if you have a photographic memory, you are only one person and your employees won't always be able to get a hold of you when they need to access a piece of equipment.

Have you ever been caught in a game of telephone tag? It's where you try to get a hold of someone, and end up just missing them. When they try to get a hold of you, somehow they end up just missing you as well. Sometimes, this can go on for days or weeks. You can't afford to have something like this happen when it comes to you and your employees. If they need to use a piece of equipment, it's likely they don't have the time to spend trying to figure out where it is. Keeping inventory records of your equipment will help everyone know where to get the equipment they need when they need it.

Use Your Funds Wisely

Have you ever bought something, only to find out that you already had it? When it comes to grocery shopping, this might not be a big deal, but when it comes to asset acquisition, it can cost you big time.

Knowing exactly what you have on hand will prevent you from buying assets you already had, or purchasing new equipment before necessary. You'll also be able to make your equipment last longer by taking it in for regular maintenance instead of just waiting for it to break.

 

Asset Panda's equipment inventory software can help you take advantage of the benefits listed above. Whether you have difficulty locating your equipment from time to time or want to make better use of your funds, our flexible software program can help you out.

Want to see just how easy it is to use Asset Panda? Take it for a test drive today!