team is looking at digital screens with map
10 August 2022

How asset tracking will create more added value for your company?

The world has changed since the Wright brothers performed maintenance on their first airplanes. With just a few planes, it was easy to organize the workshop and put away the tooling. The tooling were probably tracked in notebooks and ledgers – if they tracked them at all. 

Organization is the key

But 120 years later, this is not that easy. Airlines, OEM and MROs are dealing with huge amount of tooling who are organized in bigger workshops with dedicated teams. Meanwhile all the tooling are registered in spreadsheets, some tooling are always missing when they will be needed.

Companies lose thousands of dollars every year when assets mysteriously go missing in action or end up stolen (which can present an entire host of security risks). In the worst-case scenario, organizations continue to pay insurance on those items, or “ghost assets,” without awareness that those items aren’t even in their inventory anymore. 

In AOG situations, it can be very critical and compromise the reputation of the company itself.

The question now is not to know how it could be possible to lose such assets but what solutions we have for not losing them anymore!

Tooling don’t have the ability to be in more than one place at the same time.

Keep the tooling track

The digital tracking can be the obvious solution for moving businesses like airlines, OEMs and MROs where the assets (tooling) are moved between different worldwide locations. With Toollives’ digital asset tracking platform, it becomes easy to find assets and to track them. It makes business more efficient, more effective and more profitable. 

Otherwise, tracking the assets allows to free up time to the dedicated tooling  team (who aren’t looking for the assets anymore) who can concentrate themselves on what they do best: come up with creative solutions to solve problems and help their businesses grow. 

A revenue generator

The assets tracking can generate a revenue increase in many cases. For the companies who are renting their assets, the tracking solution can help ensure that assets being used by customers, are present at customer facilities and recorded as active rentals. In this case, the company will increase its rental revenues and avoid missed opportunities for earnings. 

ToolLives’ tracking solution is flexible, easy to use and the perfect solution to track your tooling through all your maintenance activities. 

Are you ready to learn more?