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The tool inventory is the most essential element of a tool library. Tools may be stored on shelves for members to access directly or behind a service counter for librarian access only. Tools must be numbered for cataloging, which is often done with lending software. What kind of tools a tool library should have varies with the community's needs.
An inventory management software is a software system for tracking inventory levels, orders, sales and deliveries. [1] It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages.
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Inventory Turn is a financial accounting tool for evaluating inventory and it is not necessarily a management tool. Inventory management should be forward looking. The methodology applied is based on historical cost of goods sold. The ratio may not be able to reflect the usability of future production demand, as well as customer demand.
The tool library adapted Share Starter's free "Tool Library Starter Kit" [3] which includes start up guidelines, frequently asked questions, and sample documents. The library uses "Local Tools" from "myTurn.com, PBC", a web-based inventory management system to track tool library members and to automatically display the tool availability online. [4]
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