Not All Inventory Software Packages are Alike for the Construction Industry

In the construction industry, besides the labor, the tools and equipment used are the backbones of each and every project. From the smallest screw to huge earth-moving loaders, every item serves a purpose. Keeping an accurate and up-to-date inventory of every piece of equipment a construction firm owns is vital. That’s why inventory software packages are so important. But beware … not all offerings are alike.

Construction is a multi-departmental organization. From the front sales office and administration staff to project managers and onsite labor, each project is comprised of thousands of different machines and tools and the people who use them. By not utilizing inventory software packages to record every asset according to its specifications, workers will waste a lot of time trying to find the equipment they need. A comprehensive database makes it easier to run daily operations and avoid costly guesswork. Inventory software packages increase efficiency and overall productivity when everyone knows what assets they own, where they are and what condition they are in.

"A comprehensive database makes it easier to run daily operations and avoid costly guesswork. "

So many construction projects are time sensitive. Clients want their project completed on time with little or no delays or issues. When crews are ready to hit the ground running and have a plan in place, they don’t have time to spend searching for certain tools or pieces of equipment that have been lost or misplaced. Every second lost searching for equipment is a second lost working on the job site.

Taking inventory of construction equipment is a big undertaking. But once you have all your equipment tagged with barcodes and entered into an inventory software package as part of an asset and inventory management platform, moving forward in tracking your inventory will be a breeze.

Evaluating depreciation saves money

The value of incorporating inventory software packages for construction projects is very beneficial, especially in terms of saving time as previously mentioned. They are also helpful from a financial standpoint as well. Inventory software packages enable construction companies to implement practices that record depreciation on each and every asset. The data provided gives decision-makers an up-to-date report on the wear and tear of the equipment and how it performs for each task assigned. Inventory software packages can provide a devaluation usage history which lessens the opportunity for unexpected breakdowns. When equipment stops working, so does the labor force. And that means companies spend more money and time on the project, which nobody wants.

Save even more money on maintenance tracking

Another important benefit from inventory software packages is the ability to track and follow maintenance schedules for your equipment. Because it endures harsh conditions and usage, keeping equipment in proper working order and on a regularly scheduled maintenance plan prevents a work stoppage. Companies that don’t incorporate a reliable maintenance structure often end up losing their valuable assets well before they should be out of service. Many asset tracking platforms allow users to track maintenance schedules and set alerts or reminders as to when equipment is due for service or scheduled repairs. It also lets other employees know when items are scheduled to be out of use so they can find a duplicate or replacement piece of equipment until the needed piece returns.

Incorporation of barcode technology

Today’s asset and inventory software packages incorporate barcodes and built-in scanning technology. Gone are unreliable ledgers, shared electronic spreadsheets and expensive handheld scanners. Users can have instant access to real-time data showing a wealth of information about every asset anytime, from anywhere, on their own smartphones or tablets. Once assets are tagged with barcodes and scanned into the software, allocated users can see everything from equipment check-in/check-out, usage history, depreciation records, who used an asset last, photo or video notes and so much more. Because the entire lifecycle of an asset is kept in one central location, there is more accountability by employees to keep up with assets. Additionally, transparency in operations on the usage of equipment has been shown to eventually reduce cases of theft and fraud.

Asset Panda is the perfect partner for construction companies looking to get all of their assets and inventory under control. The system goes where you go to track the assets that are vital to the operation of the company. Our system is simple to use, affordable and eliminates the headache of tracking 3^rd party hardware scanners.

Based in the cloud using free mobile apps, Asset Panda’s construction equipment tracking software provides a flexible and reliable platform to track, manage, and support construction equipment, adapting to the way you work, and allowing you to customize the system, however, is best for your business. Asset Panda allows for unlimited users with highly customizable security permissions. You can set alerts and enter detailed notes on each asset as well as have the ability to take and store photos and videos of the equipment in order to validate its condition.

With Asset Panda, precise planning and execution raise the chances of a higher productive work environment. Take a look at one of our videos on Asset Tracking for Construction and learn even more at www.assetpanda.com.

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