Why tool management is a Must-Have for Manufacturing?

Are you struggling with managing multiple manufacturing tools and equipment? Want to get rid of pen & paper-based tools Management process?

Tool Management software helps tools inventory to streamline thousands of tools or equipment at a manufacturing unit. A tool or equipment management software helps monitor the manufacturing tools or equipment, manages tools lifecycle from planning to disposal, automates tools maintenance process, tracks its usage cost, helps businesses increase the ROI, and so on! An Equipment or tools management software can provide all the required functionalities for managing tools/equipment that is essential in day-to-day manufacturing operations.

This blog will provide a concrete solution to Tools Management in the manufacturing industry.

What is Tool Management in manufacturing?

Tools or equipment are an integral part of a manufacturing unit. A tool management system ensures that all manufacturing tools or equipment can be found in one store within an organization setting. A tools management system provides a complete solution for equipment life cycle management from procurement to usage, tools maintenance, and more. Tools’ lifecycle management further helps businesses to manage their equipment systematically and more efficiently.

As part of Industry 4.0 smart factory solutions, tools or equipment management software ensures digitalization of the factory tools, and the tools lifecycle management more effectively. It provides complete visibility into the tools’ inventory and usage level. Equipment or tools are one of the highly invested possessions in a manufacturing unit. Lack of management results in higher damage and loss of tools. Consequently, the loss and damage increase the amount spent on maintenance. Hence, a centralized system of tools management is essential for the industry to avoid tools’ misplacement, damage, or loss. This further ensures the industry gets a higher ROI (Return on Investment) from tools.

The Role of Tools Management in Discrete Manufacturing:

A tool management system is extremely critical to the discrete manufacturing process. Discrete manufacturing involves various tools like nails, nuts, bolts, etc. to assemble raw materials into the final products. It is a challenging task for the tool manager and the entire tools department to manage thousands of tools every day. A centralized tool or equipment management software can help to keep the tools-shop organized.

A tool management system provides high-end visibility to the entire manufacturing tools store and its usage. It manages the entire tools’ lifecycle for a smooth production on the shop floor. A-systematic tool management system helps the industry to maximize tools’ life expectancy and efficiency through its automated equipment maintenance management features.

Tool Management software system optimizes tools management, monitoring, and maintenance of factory tools or equipment. An effective digital tools management solution manages the entire tool inventory while you track essential factors, like tool location, maintenance records, rent tools, tool usage costs, user approvals, and return schedules.

Managing tools or equipment inventory, maintenance, and usage in a digitally centralized system make a great difference in terms of managing expenses on tools and achieving a higher ROI (Return on Investment).  A centralized tools or equipment management solution optimizes equipment usage allowing the tools department to deploy its equipment to the shop floor when they’re needed and help to reallocate the equipment quickly where required. Hence, an effective tools management system is considered to be the foundation to support manufacturing production and execution.

How Tools Management software enhances digitization?

With the upliftment of Industry 4.0 implementation practices, the manufacturing industry is rapidly moving towards digitalization or Smart Manufacturing. Manufacturing is evolving rapidly and becoming increasingly complex every day. Tool Management software plays a vital role in supporting manufacturing production and execution that leads to the digital transformation of the industry.

Tools inventory management has been always considered a daunting task in manufacturing. The implementation of Tool management software eases tools and equipment inventory management with its digital features. A high-quality tool management software gives high-end visibility to the tools store, tools usage, maintenance records, and more.

How ‘Fogwing Tools’ helps discrete manufacturers?

Fogwing Tools is a cloud-hosted software solution to manage the entire tools’ inventory and lifecycle. Fogwing’s tool management software is a one-stop solution to all the complexities of factory tools management. It helps small, medium, and large manufacturers to digitalize the tools department operations which include tool availability at the tools shop, tools’ online rental management, Booking & Dispatch, usage cost estimation, refurbishment, and more. Fogwing Tools Management Software enables manufacturers to manage thousands of tools or equipment through its digital functions and features.

Fogwing’s Tools management software is seamlessly integrated with SFactrix MES and Asset+ solution that provides easy access to the users. The E-commerce like features such as rent tools online, booking and dispatch summary, and easy return make it a user-friendly tool management solution. Fogwing tool management provides high-end visibility to the tools’ inventory and availability that in turn leads to accurate production planning and execution. This centralized tool management system benefits the manufacturer to avoid tools’ misplacement and loss and achieve a higher ROI (Return on Investment) from tools and equipment.

The uniqueness of Fogwing tool management software lies in the following features:

1. Tools lifecycle management.
2. Tools inventory management.
3. Centralization of unlimited tools and equipment.
4. Tools maintenance management.
5. Online rental management.
6. Tools’ booking and dispatch summary.
7. Tools’ Refurbishment records.
8. Tools’ booking and usage report generation, and more.

Conclusion

Finding out a specific tiny tool in inventory takes a lot of time and physical effort when there is no tool management system in place. An effective tool management solution provides high visibility into the inventory.  It also helps the tools shop manager to make an informed decision about tools inventory and maintenance requirements.  A tool management software further assists in saving time and effort that leads to easy management of tools or equipment. Hence an effective tool management software is a ‘must-have’ in manufacturing to achieve digitization of the Industry.

To know more about Fogwing Tools, visit Tool Management Software | Fogwing.io