Page 22 - IEC Insights Sept-Oct19

FEATURE

It’s time to stop accepting razor-thin

profit margins as “the way it is” in
the construction industry. Shrinkage

may be an inevitability in the retail
industry. But with tool tracking, there

are smarter avenues to inventory
management worth exploring that

yield higher profit margins.

community that generates greater Connect to a Are you ready to grow a more productive
visibility to your tools across jobsites. Smarter Jobsite crew, built for the 21st century jobsite?
Breakthroughs in geofencing technology
have produced the ability to assign As we face technological change Read more about what we’re doing at
tools and equipment to specific jobsites and the impending arrival of 5G onekey.milwaukeetool.com/resources!
and see when items travel elsewhere, wireless connectivity, it’s important
whether in error or due to theft. for contractors to rethink processes References: Leeds, R. (2016). Top 4 challenges
that, while “tried and true,” are quickly facing the construction industry. Retrieved
from: https://www.digitalistmag.com/
being eclipsed by more productive future-of-work/2016/08/15/top-4-challenges-
Connected Solutions for and seamless digital experiences. facing-construction-industry-04388065
Electrical Contractors You can build visibility to your
With the rise of smart tools, connected jobs and eliminate downtime by As program manager for Milwaukee Tool,
solutions created specifically for the needs connecting to a smarter jobsite. Stephen Matson is an integral player
of electrical contractors are emerging in the overall strategy, development,
to streamline processes and increase But you need to act now to end the and delivery of new-to-world disruptive
productivity. Practical utilization data is waiting around for materials that’s innovation for the skilled trades. Currently
attainable from connected smart tools, causing jobs to go over time. And you overseeing the development of ONE-
like smart crimpers, to help electrical need to act now to end overspend KEY™, Matson works with the most
contractors better execute jobs; including caused by missing or stolen tools. talented engineers, software developers,
visualization into the success and fail and marketing leaders in the industry to
rates to help judge the longevity of It’s time to stop accepting razor-thin provide a new level of control and access
equipment, and usage history to help profit margins as “the way it is” in the to information that will fundamentally
crib managers better plan which items construction industry. Shrinkage may change the way users improve their
are available to be deployed in the field. be an inevitability in the retail industry. workflows across their operations.
But with tool tracking, there are smarter
avenues to inventory management worth
exploring that yield higher profit margins.

20 Insights Magazine | September/October 2019 | www.ieci.org