Supply and demand. It can be applied in practically any market. One such area is construction. The demand for construction is never-ending as new projects are planned and started every day around the world.
Yet what about supply? Labor shortages, resource procurement issues and various other hindrances hamper the successful completion of projects. These problems with supply saw drastic increases due to the pandemic. The repercussions are still being felt and may continue for the foreseeable future.
All the while, crews have been made to work at accelerated paces to keep up with demands from hospitals, converting structures into temporary medical facilities and more. What does this mean for the industry? Potentially, this kink in the supply management chain could see an increase in the frequency of delays.
As one of the most important industries in the world, construction must continue to adapt to the changing landscape. Many projects were slowed — and, in some cases, stopped — due to the pandemic. However, this has driven innovation and the implementation of new technologies. Companies that have embraced the challenges have discovered that adopting new practices to protect workers and maximize schedules isn’t as burdensome as once thought.
By complying with regulations and restrictions from governing sources, locally and federally, many companies have retained their workload and come out stronger. They’ve found it’s more than possible to create positive, long-lasting change. Furthermore, by preparing and following procedure, many construction outfits have seen a decrease in incidents, including spreading the virus.
While some delays are not totally unavoidable, there are several ways they can be addressed beforehand. Digitization and the revitalization of outdated practices is a place to start. Leading-edge services that manage projects and form them into a controlled manufacturing process are already seeing positive results.
Streamlined approval procedures with automatic notification for subcontractors and vendors are handy tools to implement, as well as structured workflows for the whole crew. Companies have also seen improvement in communication by implementing digital progress reporting and in management by utilizing software designed to capture jobsite performance data.
Social changes, environmental issues and new legislature are propelling innovation for the industry. Staying up to date with advanced technology, forward-thinking standards and sophisticated management tools is key to building a thriving company.
For more information on delays and interesting statistics from the industry, please see the accompanying resource.
Infographic provided by Versatile