5 Reasons to Invest in an Inventory Software
If there is one lesson that COVID-19 has taught us, it is the crucial role of technology in various industries including the construction industry. There is more to construction than just designing buildings and laying blocks. Inventory management is critical to the success of any construction project and is a process that enables construction companies to keep track of equipment, materials and workforce. About 60% of construction costs come from materials and equipment which means that managing inventory can greatly impact the overall cost and profit of a project. With the variety of building materials and equipment moving across various job sites, construction managers have a lot to juggle with. Technology has been designed to simplify complex tasks and one of such tasks is inventory management. Here are 5 reasons why you should invest in inventory management software:
Ease of updating and accessing information
As a construction manager, you need to be able to access, upload and manage information on the go. With inventory software, you can easily accomplish tasks such as searching for tools, updating supplies, checking out equipment etc. with your mobile device, tablet or laptop. It saves you the stress of constantly moving from one job site to another.
2. Keep track of the materials and supplies you have in stock
Inventory management is a constant balancing act where you are often in between having not enough equipment and materials and having excess for a project. Having excess equipment or materials prepares you for unexpected problems on job sites but when it is too much, money is going down the drain. Rather than putting yourself through the hectic process and inaccuracy of having to physically count what you have in stock, inventory software can save you that stress. With inventory software, you can keep track of your stock using your mobile device, tablet or computer.
3. Keep track of supplies across multiple job sites and storage locations
In construction, you have to juggle between sites. This makes it easy to lose track of equipment and materials. Having inventory software enables you to keep track of supplies in different locations and to juggle as necessary.
4. Know which employee is using what equipment
You have many people working on a construction site which means that equipment can easily get lost because you lose track of who is using what. This sometimes incurs unnecessary costs as you constantly have to buy equipment to replace the missing ones. With a software like Sortly for instance, you can give employees access to bar code scanners and inventory details. All they have to do is scan equipment in and out using their smartphones. This makes employees more accountable and saves you the cost of having to replace equipment.
5. Get alerts when your supplies are running low
It is frustrating when you think you have a certain quantity of materials for a project only to check and realize that what you have is insufficient to meet your needs. With inventory software in place, you can easily get notified when you are running out of a particular product. This in turn will help you make orders on time resulting in less delays on a project.
Ultimately, a well-structured inventory management process is crucial for profitability and investing in the right software and applications can be a huge boost to productivity on the job.
References
https://techengage.com/reasons-why-you-need-a-construction-inventory-system/
Photo Source: <a href='https://www.freepik.com/vectors/business'>Business vector created by macrovector - www.freepik.com</a>