Navigating Supply Chain Challenges

Publish Date: May 5, 2023

In the past, the supply chain crisis was seen as a problem exclusively for businesses that manufactured construction materials. However, engineers, architects, and others are now beginning to recognize that this crisis will affect them in the coming years.

A recent survey by Dodge Data & Analytics found that a significant majority of contractors (93%) indicated that their projects had been affected by rising construction costs due to supply chain issues.

Did You Know: US contractors rely on overseas supply chains to source materials.

It is stated that reliance on overseas construction materials has significantly left U.S. contractors susceptible to long lead times and extreme price volatility since the pandemic slowed global supply chains.

Supply chain issues leading to cost overruns, delivery delays, and disruption have become commonplace in almost every sector. Delays, malfunctions, and re-work can have a devastating effect on the success of a project. To keep your supply chain competitive, you must always seek practical solutions.

Developers not only have to adapt to inevitable delivery delays and rising costs, but general contractors have learned they must come to the pre-construction process equipped with options to decrease wait times and budgets.

Communication with clients and trade partners in today’s climate is vitally important.

Many issues can be resolved or avoided altogether with effective communication practices. Maintaining open lines of communication and coming armed with options are vital techniques to set up a project for success.

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