3 Ways Construction Managers Can Keep Better Track of Inventory
Inventory management isn’t the most exciting aspect of a construction manager’s career, but it may be the most import to his or her bottom line. The exact numbers vary, but some call equipment theft the “billion dollar crime,” because it robs the industry of more than $1 billion each year.
But it’s so much more than just theft. Mismanaging your sites inventory increases loss wastes labor — you have to pay people to track down inventory — and creates a headache that costs time, money and likely your sanity. But it doesn’t have to be that way. Inventory management can be stress-free and even hands-off thanks to software and technology. Follow these three steps to win back control of your own inventory and save time and money for your business.
Automate the Process
Automation is the key to tracking what you have both on an off the job site. With dozens of workers using different building materials and equipment for months on end, it’s impossible to track it all manually without errors. Asset tracking systems help automate your inventory by setting up everything from job site security cameras to equipment SKUs when employees are using your merchandise; think of this as an internal rental system for your job site.
On a small scale, this can be done with simple software, but there are also enterprise-level solutions available when managing millions of dollars in equipment. Those software solutions might seem expensive up front, but considering what you have to lose by not managing your inventory properly with automation, they’re certainly worth it in the long run.
Build a Robust Rental System
Speaking of that rental system, it should be as robust and developed on the internal scale as it would be on the external scale. Think about a company like Lowe’s or Home Depot, which rents tools and equipment to thousands of people each year. This is equipment that is leaving the store and going off with total strangers, yet these companies are able to track and retain the majority of it because it’s so well-tracked.
A computerized inventory control system that requires employees to “rent” equipment using SKUs and an ID card is the best way to track where your equipment is and who’s using it.
Use Security Cameras Around Storage
This is a no-brainer for any job site using valuable equipment — make sure you have good job site security, including cameras, around the areas where equipment is being stored. The “billion-dollar crime” mentioned above happens most when a site isn’t being watched, either by people or by a camera, and experienced criminals know what to look for at a vulnerable site.
If construction site video monitoring sounds expensive, there are companies out there who have figured out how to cater to the always-moving construction job site by manufacturing modular setups to be placed around one site, then moved to another when the project is complete. So no matter how big or small your site, there’s a security solution for you.
Find What is Right for You
No matter how big your site or company, these three steps apply to any solution. An automated inventory process using a good employee “rental” system and strong job site security are the keys to reducing loss prevention costs and increasing the bottom line of your business.
No matter what your security needs, ECAMSECURE has what you need. Click here to request a quote.