Tool management

From CEOpedia | Management online
Tool management
See also

Tool management is used to support primary production activities, so that the company can achieve high production, good quality and lower cost of production. The main goals of tool management are:

  • providing workstation with necessary tools to carry out its tasks,
  • maintaining good technical condition of tools,
  • well organized flow of tools so that the two above-mentioned goals can be accomplished with the lowest cost.

To support the tool management, information systems are used. The basic functions of these systems are:

  • classification of tools,
  • records of the degree of consumption and rate of turnover,
  • records of the value and number of tools,
  • records of the consumption costs, time used and setup costs,
  • monitoring and registration of the causes of breakdowns and repairs.

Tool management requires the consideration of needs and selection of most needed tools. Tools can be divided into:

  • typical tools
  • special tools

The advantage of the use of typical tools during the manufacturing process is a low cost-per-acquisition of these tools. They are useful, because they can be used for a variety of tasks, which also reduces the overall costs of activity. Special tools, can provide higher performance and higher quality of manufactured products. Decision on the selection of tools, should be based on consideration of profitability and costs of use of these tools. Managers should compare the use of typical tools with the benefits of using specialized tools, in terms of quality and performance needs. Final decision, however, may depend on other factors, which are more closely connected with the production process.