Tool Tracking - Return on Investment

Return on Investment Worksheet
CheckMate Tool Tracking

This worksheet is designed to help you calculate what you currently spend to track your tools and equipment. It will ask you to supply some estimated figures to help in this process.

What is your time worth. Typically, this is your landed cost for your labor or employee labor. Figures range from just simple wages to salary, benefits and pro-rated overhead costs. For example, we chose $20 as a typical figure for the hourly FTE rate.	What does an employee hour cost?
How long does it currently take to record who took what equipment? Do you use out cards or a log book?	Time in minutes per item?
Number of tools Check In and Check Out per day.	Issues, Returns and Moves per day
How much time does your total staff spend searching for your equipment per day?	Search time in minutes per day
What does it cost to replace your equipment? Remember, it is the cost of the item, the time doing without it and the time it takes to order a new one, pick it up and mark it.	Total replacement of average tool cost
Tools lost per year	Number of tools lost per year
	Typical CheckMate system cost

Here is the number of days it takes for CheckMate to pay for itself!	Return on investment in only	days!

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