There are multiple departments in a construction project and the thing that connects all of them is ensuring the materials are purchased, delivered, and properly managed all the time to avoid delays.
When the business grows and gets multiple projects simultaneously, managing materials can be cumbersome. Scheduling both orders and the reception of materials can be complicated at times.
Maintaining accurate and streamlined information is crucial throughout the project execution. Problems and challenges may arise when inventory management is not done properly. When construction is delayed, it’s cost increases.
What’s in it for you to have good inventory management?
Inventory management is beneficial in every business. However, keeping track of the equipment and materials used on each job site can be complicated. This can be done with the help of new technology such as an inventory management system. It’s also easy to use and is accessible via a computer, laptop, or mobile phone.
One of the many causes of project delays is a shortage of materials, and this usually happens because of poor inventory management. These project delays will ultimately result in unsatisfied clients and a bad business reputation.
Achieving an optimized inventory will not only avoid delays but also avoid damage to the reputation of your business. The following are ways to minimize problems in material management:
Make a Suppliers List
Problems with materials are inevitable, and these problems will require prompt action. Any problem with inventory management can easily result in delays and affect the project financially. This is why you should have a list of all the suppliers and their contact information in case there will be a shortage of materials.
It would also be a good idea to have an on-call supplier that has no problem processing rush orders. They may charge a little more but you will only be purchasing from them in special cases, and they can be a big help with inventory problems.
Regular Audit of Existing Materials
This can be a tedious task, but a regular audit of materials is very crucial to ensure smooth business operations and continuity. Keeping tabs on materials is a necessity in every project, this helps prevent unforeseen shortages and losses. Fast-moving items such as nails, drill bits, and rivets are commonly overlooked, but if left unchecked, these may cause significant loss in the long run.
You have to be sure that the information you have about all your equipment and materials are always accurate.
Consider New Technology
It’s an obvious fact that the construction industry is well-versed in technology regarding engineering and architectural designs. But the thing is, these are not the only important aspects when considering construction, the execution is also part of it. Getting accurate information on inventory levels is essential for an industry that handles numerous amounts of materials for every project. The “Old School” method of monitoring inventory, which is with the use of spreadsheets, is very prone to human errors. A single mistake in tracking may cause shortages of materials, delays, and ultimately increase expenses.
When managing inventory, we treat everything that contains a supply, material, or equipment as locations. Monitoring everything that’s going in and out of these locations is exhausting, especially when you have to do a physical audit every time you require information. Using an inventory management system is the key to simplifying this tedious process. With this software, you will have a system that can increase inventory visibility and help you manage multiple locations effortlessly. You will get streamlined and centralized data in each location. You should also consider a tool that is accessible anytime, anywhere; whether you’re in the field, office, or even at home.