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Every industry is affected by supply chain issues in some way or another, and the construction industry is no exception. With an ever-growing demand for materials and components, supply chain disruptions can have a major impact on the cost and efficiency of construction projects. In this blog post, we’ll take a look at how supply chain issues have impacted the construction industry over the last few years.
The Connection Between The Supply Chain and Construction Materials Suppliers
The construction industry has been significantly impacted by supply chain issues throughout its history. These supply chain issues can manifest as a shortage of raw materials, inadequate transportation of goods to and from a construction site, or specialized parts not being available when needed. In more recent years, the global recession has also caused a drastic rise in subcontractors becoming insolvent which leads to disruptions in the timely delivery of materials and parts, ultimately delaying projects and increasing costs. Companies must remain mindful of this ever-changing environment and constantly make adjustments within their operations. This includes efficient resource planning which could help mitigate any losses due to unforeseen events. Having access to reliable sources and information is invaluable in the efforts to reduce supply chain issues and keep projects running on schedule.
Increased Cost of Materials
The rise in material costs has been an unwelcome challenge for the construction industry. It is clear that the increasing demand for certain materials around the world, combined with supply chain issues caused by production delays, have created a market where costs are on the upswing. For instance, steel prices continue to be driven ever higher due to rising global demand, with China leading the charge. This will no doubt affect builders who utilize steel since their projects are likely to cost more than they would otherwise expect. Managers will need to exercise prudent budgeting and resource allocation practices in order to buoy their businesses against the pressures of higher materials costs.
Longer Lead Times
Longer lead times as a result of supply chain disruptions can impose significant problems on construction projects, hindering the ability to meet deadlines and incurring unforeseen costs. Projects such as new residential or commercial structures have particular timelines that must be adhered to, making delays due to long lead times all the more damaging. In addition, the unpredictable nature of when materials will arrive puts added strain on budgets since additional fees may arise from increased wait times. These delays are some of the most felt and discussed supply chain issues–especially post-pandemic. It is imperative that steps are taken to limit the effects of longer lead times for an efficient and expedient construction process.
Supply Chain Issues: Visibility
Finally, one issue that is often overlooked when it comes to supply chain disruptions is visibility problems. Without proper tracking systems in place, it can be difficult to know exactly where an item is located at any given time or when its expected arrival date will be. This can lead to further delays and confusion as project managers try to figure out where items are located and when they’ll arrive at their destination. It’s important for companies involved in the construction industry to invest in visibility systems that allow them to track shipments along every step of their journey so they know exactly what’s happening. For any organization involved in the construction industry, supply chain visibility is key to success. By utilizing these solutions, organizations can be armed with the knowledge they need to stay informed on the status of their orders at all times.
For Exceptional Service From Industry Experts, Rely On The Professionals at Silvi Materials
Supply chain issues have had a significant impact on the construction industry over the last few years, resulting in increased costs, longer lead times, and visibility problems. These issues can cause serious delays and budget overruns if not managed properly. At Silvi Materials, we know how important it is for companies involved in the construction industry to stay up-to-date on current industry trends. We always ensure that our construction projects are completed on time and within budget limits despite any potential supply chain hurdles that may arise along the way!
Since 1947, Silvi Materials has been helping to bring visions to life in Bucks County and beyond. Our modern-day ready-mix concrete is engineered in multiple formulations using the industry’s highest-quality materials ensuring strength, durability, and sustainability. Our state-of-the-art quarry operations and worldwide delivery capabilities allow us to serve our customers with the highest level of technical expertise. From cement, sand, stone, slag, and rock salt, to our exceptional customer service guarantee, we offer a comprehensive portfolio of materials & solutions that goes beyond ordinary expectations.
Contact us today to learn more about our services and how we can assist you in your next construction project!