10/31 2018

The ToolTags App Offers Proprietary Tracking & Real-Time Chain of Custody

Tracking company assets – and obtaining real-time chain of custody statistics – are very important factors that assist with both business productivity and loss prevention. To offer a practical example, if a construction company’s employee moves a 60-foot ladder from “Job A” to “Job B” – where each of the two jobs is in a different geographic location – the said ladder is scanned into the system beforehand by the employee (while still at Job A), and then once again, when it reaches Job B. By doing it this way, the hypothetical construction company used in this example now knows where their 60-foot ladder is at any given time thanks to GPS. This is very important information in for several reasons, since many construction companies are likely to have only one 60-foot ladder; a very expensive piece of equipment that is not used for every job, and realistically, is not implemented at all in most cases. From an inventory standpoint, it makes sense for many companies to own only one 60-ft ladder.

Another benefit that comes along with a proprietary tracking system is the prospect of “chain of custody,” where supervisors and upper management has insight into exactly who last used, moved, and/or left a piece of equipment at any given job site that they previously worked. Chain of custody also has the added benefit of cutting down on theft and increasing loss prevention effectiveness. If the company knows the last person that scanned in and used a piece of equipment, in can be easily concluded who is responsible for the missing merchandise in most situations.  This applies even more so to consumable and perishable inventory – such as drywall, industrial adhesives, loose hardware, and expensive chemical compounds; goods that are very easily capable of being consumed, and that may be stolen, destroyed, dissipated, wasted or spent by company workers.

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