At the core of a successful complex and heavy construction project is effective project management, and cost codes play a crucial role in the overall process. That is why integrating construction cost coding into daily operations enables project managers to achieve efficient project execution and accurate cost control – a practice that leads to more […]
Cost Codes in Construction and the Role they Play in Projects Read More »
Success in construction projects relies on understanding and managing hidden costs, which can quickly disrupt budgets—even during apparent growth. Hidden costs, often overlooked, can significantly impact profitability. Workers should use data-driven management systems to identify these expenses early. Business insight helps spot compliance issues, delays, and quality problems that budgets may miss. Before we explore
How to Plan for Hidden Construction Costs Before They Derail Your Project Read More »
In construction, a single overlooked purchase order (PO) can derail an entire schedule. One misstep—whether it’s a missing signature, incorrect delivery date, or mispriced material—can result in thousands of dollars in unplanned costs and days of lost progress. Procurement in construction isn’t just about ordering materials; it’s also about managing the entire supply chain. It’s
From Chaos to Control: Optimizing Construction Purchase Orders Read More »
The most significant portion of a building project’s costs typically comes from the materials. Have you ever placed an order for too many goods or tools? Or putting an order too late, resulting in delayed delivery dates? If so, you need to be aware that poor handling of materials can cause projects to run late
Fix Construction Delays with Efficient Inventory Management Read More »
Tis the season…. For Holiday Shopping! The most awaited Black Friday shopping season is almost here and for a good reason, this is exactly when we get to see some of the biggest discounts of this year on almost everything. According to a survey from National Retail Federation, a record of 183.4 million people is
Black Friday Shopping Tips for Construction Pros Read More »
Construction equipment management is the process of overseeing the utilization, safety, and maintenance of construction equipment. It involves assessing fleet expenses and utilization, maintaining operational efficiency, and making strategic equipment investments. Why Effective Construction Equipment Management is Essential Construction equipment management involves considering expenses, maintenance, and utilization. Effective construction equipment management plays a
Maximizing Construction Project Productivity Through Construction Equipment Management Read More »
When managing construction, about 50% to 70% of the construction costs usually go to your materials, resources, and inventory. On top of that, every year, the industry has to deal with big problems like insufficient materials, issues with quality control, and inadequate logistics. This shows how important it is for project managers to plan and
A Quick and Easy Guide to Managing Your Construction Materials Read More »
One of the essential resources in a construction project is the construction tools, assets, and equipment. It is also one of the significant cost drivers of your budget, and keeping track of these resources can save your company from losing money. An efficient and effective construction asset and equipment tracking system can help you keep
Utilizing Construction Asset and Equipment Tracking System Read More »
The supply chain crisis is one of the most prevalent issues in the construction industry. Consultants have predicted that the supply system may not normalize in the next few years, so it’s the contractors’ responsibility to adapt to the new supply chain outlook in construction. As the demand for new buildings increases, so does the
How to Tackle the Supply Chain Crisis in the Construction Industry Read More »
A construction project comprises a million moving parts, and the project manager is responsible for ensuring all those moving parts are progressing according to plan. One critical aspect of managing a construction project is keeping track of the building materials needed to complete the project. Undoubtedly, it is an integral part of ensuring the project
Managing Your Construction Materials The Right Way Read More »
In recent years, there has been a worldwide impact on supply chains, and almost all types of industries are affected, and construction is not an exception. The drastic changes in the availability and price of construction materials have shifted the sector. Over time, this has been a recurring issue that can be difficult to deal
How to Deal with the Rising Costs of Construction Materials? Read More »
The Just-in-Time (JIT) inventory method is the inventory model used by the construction sector. Over the years, it has proven to be the best model as it continuously creates a strong foundation for the immediate availability of construction materials and resources at any given job stage. At the height of the pandemic two years ago,
Construction Inventory: 7 Tips to Effective Planning in 2023 Read More »
Technology and innovations are two concepts that are already familiar in the construction sector. And while Building Information Modelling, or BIM, has been around in the sector for a while, the industry is still slow to adopt the technology. As a matter of fact, construction ranks only a little above agriculture when it comes to
8 Top Construction Tech Priorities You Should Set for 2023 Read More »
Undertaking a construction project is a very tough job. Internal factors like process delays and external factors like price vitality, weather constraints, and temporary contractors can be involved in your projects. All of these factors may significantly impact your projects on different levels. If you are the project manager, this will be your responsibility, and
What Do You Need to Know About Effective Construction Resource Management? Read More »
Generally, there are two major assets that should be managed in a construction operation: people and inventory. While construction crew management involves scheduling, delegating, and constant supervision, inventory management requires much more. In today’s article, we will discuss what poor construction team and inventory management can cause your project and how a construction management application
What Poorly Managed Construction Team and Inventory Can Cause Your Project Read More »
For most construction professionals, keeping track of construction tools and equipment isn’t just a challenge—it’s overwhelmingly stressful. Every business across all industry owns tool and equipment that helps them provide the services and goods they offer to their clients. And whether that is tiny (such as computer hard drives) or massive (such as a construction backhoe), tracking
Guidelines in Tracking Construction Tools and Equipment Read More »
When you are on a construction site, you must manage a lot of inventory. These items are vital to finishing the job, from materials, tools, and equipment to construction technology. There are tight deadlines for construction projects, and you can quickly lose money if they get off track or are late. The work does not
A Quick Guide to Construction Inventory Management Read More »
As the business landscape races toward modernization and digitization, is your construction company still utilizing spreadsheets to manage and track equipment and tools? An outdated, lousy inventory management approach will consume a ton of your resources and manpower. Such a painstaking and time-consuming approach to your inventory management will never give you the standard of
Why does Your Firm Needs Construction Equipment Management? Read More »
Perhaps, you are now facing a lot of stressors related to your construction business, especially in your supply chain. With the added strains from the uncertainties and continuous market swings, your company should now find ways to adapt and minimize operating costs to stay profitable. Construction inventory management is one area where your construction company
How Can You Achieve End-to-End Inventory Transparency in Construction? Read More »
In managing construction projects, some might think that inventory management is an unessential piece in the puzzle- a negotiable variable in the business. The truth is, however, it plays a crucial role in the overall operations and your company’s profit margins. Most of the business sectors that exist, from medical and construction to automotive and
How An Inventory Management Software Can Resolve Your Construction Inventory Nightmares Read More »
When it comes to managing construction, one of the most challenging tasks is efficiently and effectively managing your inventory. Managing inventory can be a laborious, tedious, and time-consuming process in itself, especially if you handle multiple projects at the same time that involves millions of resources – materials, labor, equipment, and assets. Even a tiny
Reinventing Your Inventory Management Through Construction Software Read More »
As a contractor, you are always on the move, from one site to another, from job to job. And with so much shuffling around, there is more and more opportunity for human errors, especially in your inventory, like lack of materials, tools ending up on the wrong jobsite on the wrong day, etc. When you
What is Asset Tagging in Construction and Why It is Essential to Your Inventory? Read More »
Inventory management is one of the most laborious and time-consuming tasks a project manager must do when managing construction businesses. While inventory management includes understanding how to handle resources and when and where to allocate them, it is much more than that. It also involves overseeing the purchases, distribution, warehousing, and storage of goods while
Using Construction Software to Revamp Your Inventory Management System Read More »
Managing construction projects also means managing all that comes with it, such as inventory and assets. Now you might be wondering, what is the difference between the two? For one, inventory management tracks all the stocks and reserves that come in and go out of the construction company’s warehouses; asset management tracks the supplies and
Construction Inventory and Assets: What Are the Distinction Between the Two? Read More »
Inventory is one of the main cost drivers in any business industry. The cost for inventory stocks alone accounts for half, or maybe even more, of the project’s total budget allocation in the construction industry. So as a project manager, inventory management is often one of the responsibilities you have to prepare for when managing
How A Good Inventory Management System Can Elevate Your Company’s Profitability Read More »
The choice of the procurement process is critical to the success of a construction project. It is also a major deciding factor to the overall success of the company. Procurement in construction is never easy. Thus, it always requires a series of upgrades. And working with a complex supply chain, you have to source out
How Can You Improve Your Construction Procurement Process? Read More »
Construction inventory is a crucial element of most businesses in varying construction trades. Shift inventory fast enough, and you will usually produce more revenue for your company. Now the question is— how do you make this possible? Before we proceed with the strategies in inventory management, let’s dive into its basics first. What Is a
The 6 Common Strategies in Inventory Management in Construction Read More »
A construction project typically involves a million moving parts – from material production and supply chains, equipment rentals, and labor workforce. Thus, implementing a comprehensive inventory management strategy plays a significant role in determining a project’s progress and success when managing construction projects. One of the daunting challenges that a project manager may encounter on
How To Achieve High Inventory Visibility Through Effective Material Requirement Planning Read More »
In managing construction, inventory management is one of the highlights of procurement management that brings the whole process in the supply chain full circle. While more logistics and activities are involved when inventory management is included, it enables the procurement team more control over their work. For instance, the building materials or equipment purchased in
The Integral Role of Construction Inventory in Procurement Management Read More »
Imagine you are the site manager. You and your construction team are handling materials and equipment around the clock to accomplish project goals. And here is your client expecting the project to be completed next week and has to be on time. Obviously, you are responsible for tracking those materials to make sure they do
8 Effective Strategies to Track Your Construction Materials Read More »
In your construction business, it’s no doubt there are tons of construction materials, equipment and goods. The industry requires every business in this sector to keep track of the materials from one phase to another. Whether you lose track of your inventory or are left with the choice of doing everything manually, you know it’s
As a contractor or business owner, you are always on the move. However, the challenges of maintaining the transparency for high-value assets and inventory inside and outside of the warehouse become more crucial and difficult than ever. And whether the assets or inventory are part of your services, delivery activity, or sales, real-time transparency is
How Construction Inventory Management can Benefit Your Business? Read More »
Ask your company employees, “What do you love most about your job?” Few—if any—will say it’s managing construction inventory. Even so, inventory management is essential to help any company, regardless of any industry, last and ultimately flourish. Not convinced enough that your company needs to track inventory? An article published by the U.S. Small Business Association
10 Ways Your Construction Company Can Benefit From Cloud-Based Inventory Management Read More »
Arguably the most important area of your construction business is inventory. And not paying extra attention to your inventory management may result in major issues with your business. What you may not know is that inventory is a far more complicated area than it seems. If you’re the business owner or the project manager, you
9 Common Inventory Mistakes That’ll Cost You and How to Best Avoid Them Read More »
Construction inventory management is all about organizing, ordering, and using your company’s inventory. Whether you keep stock of raw building materials, lightweight tools, heavy equipment, work-in-process, or finished goods or output, an optimized construction management system is critical to ensuring that your company runs smoothly and profitably. Construction companies often rely on free, inexpensive, and
Construction Inventory Management: Paper, Spreadsheet, or Software? Read More »
The construction industry manages some of the costliest projects in the world. There’s a tremendous amount of manual labor, resources and supplies used in a major construction job, resulting in tons of data. Hence, understanding how data is influencing and shaping your inventory will help you become more knowledgeable, experienced and efficient in this area
How Big Data Can Improve Your Construction Inventory? Read More »
Most construction companies these days have built their warehouses using their supplies, tools and manpower. Having a warehouse has become necessary, and everybody agrees that a lot of work is needed to run and manage it successfully. Two critical factors come into play when you want to run your warehouse successfully, cost-effective and efficient –
12 Cost-Effective Ways to Improve Your Warehouse Efficiency Read More »
An inventory cycle count is a tried and tested strategy in managing construction inventory that involves counting a specific subset of its entirety on a particular date, at a particular time, consistently, and repeating intervals. Also referred to as cycle count and cycle counting, the inventory cycle count, is a reliable way of tracking inventory
The Role of Inventory Cycle Count in Construction Management Read More »
Look at any successful construction company, and you will see tons of efficiencies. Every working body has its purpose; every resource is being maximized and adequately utilized. Which leads us to the question— how does a company get to this point of success? One way to attain this is by adopting a well-understood inventory management
Construction Inventory Management: The Just In Time Method Read More »
No matter how lean your operation is, your construction business will most likely end up with excess inventory. Any slip-ups when it comes to your list will lead you to extreme costly effects. Excess in your inventory is typically quantified as any amount larger than your target. You may be purchasing too much and becomes
How to Deal with Excess Inventory in Construction? Read More »
Construction companies and service providers— whether they are general contractors, subcontractors of trades, plumbers, roofers, electricians, or even exterminators— offer skilled and on-demand assistance to their clients. Regardless of the type of work these companies provide, they certainly have one thing in common: they need valuable materials, tools and equipment to get their respective projects
Here Are Signs To Look Out For a Construction Inventory Management Software Read More »
The unpredictability of the construction industry has made the management of equipment, tools, parts, and supplies a very challenging task. Having real-time access to the right equipment, tools, and other resources in a timely manner is a crucial issue that most construction professionals constantly deal with, significantly affecting a project’s development. It’s also concerning to
10 Tips for Efficient Construction Inventory Management Read More »
