The future of asset management: No tool left behind

Stanley Black & Decker, at its annual shareholder meeting April 16, touted its line of RFID-embedded “smart tools” as the future of the industrial tool market.

The company’s ProtoID tools – such as sockets, wrenches and pliers – have RFID chips that are embedded in the tools (not applied to the exterior) so that they can be located at any time. The company also offers CribMaster storage cabinets that automatically keep track of the RFID-embedded tools.

“It’s especially important for people in airplane hangars, on military bases or in other critical applications where mechanics need to know where every single socket is, for instance, before a plane can fly or before a Hummer can leave its garage,” said John F. Lundgren, chairman and CEO of the company.

The CribMaster website notes that “whether it’s due to waste, hoarding, or even theft, inefficient tracking and control of these inventory items can quickly cause major problems.”

At the shareholders meeting, Lundgren said: “These tools make facilities and workers both safer and more productive, and we believe they’re the future of the industrial tool market.”

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