{"id":8921,"date":"2022-10-08T15:15:45","date_gmt":"2022-10-08T19:15:45","guid":{"rendered":"https:\/\/moellerpunch.com\/?p=8921"},"modified":"2022-10-13T10:43:10","modified_gmt":"2022-10-13T14:43:10","slug":"5-tool-inventory-management-tips","status":"publish","type":"post","link":"https:\/\/moellerpunch.com\/5-tool-inventory-management-tips\/","title":{"rendered":"5 Tool Inventory Management Tips","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
Inventory management can be a challenge for any tool room manager. You have a lot of different tasks and responsibilities to keep track of, so it can be easy to fall behind on your proactive and predictive approach to keeping high-quality tools in stock.<\/p>\n
From our precision tool experts to yours, here are some tool inventory management tips that could help.<\/p>\n
Hint: one of them is to use a tool inventory management system, like our MPTCrib \u2014\u00a0which you can check out here<\/a>,<\/strong> if you\u2019re interested!\u00a0<\/em><\/p>\n There are many ways to get your tool inventory management practices back on the right track. Here are a few that we\u2019ve found to be most effective and efficient for ourselves and our customers.<\/p>\n As a tool room manager, \u201cclose attention to detail\u201d is probably in your job description. Capitalize on your strengths here and take time to get your tools well organized and prioritized, so you always know what you have on hand.<\/p>\n What does this look like? It could involve a few things, such as:<\/p>\n In terms of prioritization, one method that you could try is ABC grouping. It\u2019s used by many inventory specialists across industries. In its simplest form, it involves three groups:<\/p>\n While this method may need to be tweaked a little depending on your specific needs, it could be a great starting point in figuring out what you need, how much you need, and when you need it.<\/p>\n Manually count your inventory and make sure it matches up with what you have logged electronically. This is a proactive approach that can take a bit of time, but it\u2019s well worth it when it sets you up for long-term success.<\/p>\n Some tool rooms complete audits once per year, some once per month, some quarterly, and some daily. Many will even do some combination of these, like a quick check every day and a more comprehensive analysis every year.<\/p>\n One way to help with tool inventory management is to improve your bottom line and reduce the amount of tool wear<\/a><\/strong> your team deals with. When you buy higher-quality tools, they\u2019re more likely to last longer. You won\u2019t need to worry about replacing them and keeping them in stock as often as you currently are.<\/p>\n Of course, this isn\u2019t an end-all-be-all solution. Precision tools don\u2019t last forever, and you\u2019ll always have to purchase replacements. But higher-quality tools can make your job a little more manageable.<\/p>\n If your inventory isn\u2019t always stocked, you know better than anyone that the blame doesn\u2019t always fall on you. Sometimes it\u2019s due to a supplier issue.<\/p>\n But if you\u2019re having ongoing issues with a supplier\u2019s lead times, delivery methods, or tool quality, it might be your sign to find a different solution. While no supplier can truly promise fast lead times or 100% on-time delivery rates, there are some options that could provide you with a higher level of customer service so that you\u2019re regularly updated and kept in the loop.<\/p>\n They may not be the cheapest solution, but they will be well worth the cost (and possibly even more cost-effective) in the long run.<\/p>\n An inventory management system, like our MPTCrib<\/a><\/strong>, is a digitized tool that automates your inventory management tasks for streamlined efficiency. The technology of these tools has come a long way. Let it do some of your work for you.<\/p>\n All inventory management systems vary in price, features, and capabilities. However, most offer these primary benefits that can help simplify some aspects of your workday:<\/p>\n <\/a><\/p>\n5 Tool Inventory Management Tips for Maximum Crib Efficiency<\/h2>\n
1. Organize & Prioritize With Care<\/h3>\n
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2. Complete Regular Tool Inventory Audits<\/h3>\n
3. Purchase Higher-Quality, Longer-Lasting Tools<\/h3>\n
4. Evaluate Tool Supplier Performance<\/h3>\n
5. Invest In a Specialized Tool Inventory Management System<\/h3>\n
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MPTCrib: Moeller Precision Tool\u2019s Innovative Tool Inventory Management System<\/h2>\n