Tools Management is the process of organizing, controlling and maintaining tools and equipment in a business setting. It involves developing policies and procedures to ensure that the tools are properly stored, tracked, protected from damage and used efficiently. By properly managing tools, businesses can reduce costs associated with purchasing new equipment, improve safety for employees, increase the productivity of their operations and prevent tools from becoming obsolete due to technological advances. With efficient Tools Management, businesses can maximize their available resources and stay competitive in their industry.