The pandemic, Brexit and a climate of risk aversion due to a volatile economy, have all had far-reaching consequences. After an already turbulent trading period, the last SCF quarterly market insight report (July) predicted that lead times on materials could further increase by up to four weeks in the next year – with brickwork and carpentry & joinery particularly impacted, writes Adam Sanford.
Materials supply and price volatility are predicted to be key risks to completion of construction projects within time and budget. Although there is no single answer to the problem, there are ways we can mitigate some of the key risks, to ensure the best possible outcomes.
Buy early and buy smart
Early purchasing has perhaps been less popular in recent times due to the efficiencies of just-in-time supply chains, but supply volatility has potentially tipped the balance back in favour of early orders and storage on site, which can help mitigate against downtime during the construction period. Ordering early also means that suppliers can in turn place orders with their own supply chain to lock in materials, even if storage on site is not available.
Register for free and continue reading
This is not a paywall. Registration allows us to enhance your experience across Construction Management and ensure we deliver you quality editorial content.
Registering also means you can manage your own CPDs, comments, newsletter sign-ups and privacy settings.
