Managing Your Inventory as a Contractor

Managing Your Inventory as a Contractor

If you own your own contractor business or manage a lot within the company you work for, you may deal with site inventory. In this position, you take charge of the purchasing and managing of the inventory for the company in order for the company to complete current jobs and land new owns.

When you’re in charge of inventory, you have to be concerned with forecasting, purchasing orders, deliveries, stock levels, fill rates, back orders, and more. You may even have to provide inventory reports on a regular basis to a superior or owner of the company. This position, as you can probably gather, is extremely important.

Being in 2017, there’s a lot of technology out there now that can really help manage job site inventory better. If a job site’s inventory isn’t managed properly, it can cost the company a lot of money, or it can potentially make the company lose clients.

It’s important to keep track of every machine, tool, piece of equipment and other items on the job site. As you move from site to site, it’s always important to double check the equipment and numbers so the chance of loss or things missing gets lowered.

As you work on each job, you can also evaluate if your current inventory is sufficient enough for the types of jobs you’re taking on. Is there not enough equipment? Do you own unnecessary tools? You don’t want to pay for materials that you ultimately have no use for at the present time. As the inventory manager, as long as you keep up with inventory, your materials/tools/machines will accurately reflect the needs and demands of your company.

There are a few different inventory scanner apps (free and not-free) that can help you manage your job better. These apps include: Inventory Tracker, and Inventory Tracking Sheet with Barcoding.

Although the apps are handy and convenient, they’re not the most realiable or efficient. Bar codes and radio frequency identification (RFID), as well as scanner equipment and software, are the best choice to help you. Trusted vendors that produce these products include: ToolWatch, Purple Oak, and GAO RFID Inc. If you are a smaller company with a smaller budget, sticking to mobile apps will be a conservative choice. Scanners and RFID products cost money, but you also get support when using these products. Sometimes, phones can be used as scanners (headed this way) but they aren’t perfect yet; however, a phone scanner is cheaper solution than purchasing a scanner.

Thinking about becoming a contractor? You’ll need your license to practice legally in the state of Florida. We can help. We are a contractor licensing company. We will help you get your Florida contractor’s license fast and painlessly. To get started, click here or call 239-777-1028.



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