ToolManagementSoftware-Mediabistro.docVIP

Software Solutions An introduction to tool management software. By Lisa Mitoraj, Associate Editor So youve been thinking about trying a software-based tool management system, but youre not sure exactly how to go about finding one. Should you buy the software with all of the bells and whistles or just a basic package? Should you outsource your tool management to an external company or do it all in-house? Who do you contact? Where do you begin? The answer to the last question is easy--right here. The following pages provide an overview of tool management software and advice from people in the metalcutting industry who use it. Youll learn what tool management software is, who needs it, what components are involved, what costs to expect and how it will affect your employees. What is Tool Management Software? Tool management and software go hand in hand these days. Many shops choose to organize their tools the old-fashioned way--by manually tracking tools in the toolcrib and on the shop floor. But this time-consuming approach can be expensive if youre using a substantial number of tools. More and more shops are using tool management software to track tools instead, decreasing the chances of tool stockpiling by employees and increasing productivity. In the long run, using software will save your company money by making it more efficient and more productive. According to Software Integration Services Ltd., the Edmonton, Alberta-based manufacturer of Tool Hound software, the cost savings can be enormous. It estimates that an average user might save over $80,000 per year by implementing Tool Hound. SIS considers an average user to have an annual tool budget of $50,000 or higher, 20 percent of which is spent on tool replacement. Tool Hounds estimated savings figure includes $37,000 of productive time that was previously spent waiting for tools, tracking tools and issuing tools. It also includes $20,000 of productive time that was previously wasted maintaining optimum inventor