Choosing your suppliers and knowing what’s best for your business
Over the past few years we have seen massive fluctuations in prices, demands that far exceeded supply and numerous questions raised over future survival of the industry in a post-Brexit, post-Covid world.
Now more than ever, the right supplier can significantly impact the timeline, budget, and overall success of a construction project. Construction companies need to carefully evaluate suppliers to ensure that they meet all of the company's requirements and can deliver on their promises.
Here are some key factors to consider when selecting the best supplier for a project.
Quality of materials and services:
Lower quality materials can compromise on durability, leading to costly repairs and delays. Therefore, construction companies must assess the quality of materials and services offered by suppliers.
This means evaluating the supplier's track record, reputation, certifications, and compliance with industry standards. Requesting samples of materials, inspecting previous projects that have used the supplier's materials or services, and checking for any certifications or quality control processes can help construction companies ensure that they are partnering with a reliable supplier who provides high-quality materials and services.
Reliability and dependability:
Construction projects have strict timelines, and waiting on the supply of materials can result in costly project delays. It is essential to assess the reliability and dependability of a supplier before choosing them. Construction companies should evaluate the supplier's capacity to meet their requirements in terms of material quantity, delivery timelines, and responsiveness to communication.
Past performance and references from other clients can also be valuable indicators of reliability. Additionally, evaluating the supplier's production capabilities and backup plans for contingencies can provide insights into their dependability, too.
Pricing and financial stability:
Cost effective sourcing of materials can ensure the project's profitability, but the cheapest option may not always be the best. Construction companies should evaluate the pricing offered by suppliers in comparison to the market rates, and consider factors such as shipping costs, taxes, and any hidden charges.
Additionally, assessing the financial stability of a supplier is crucial to ensure that they can sustain their operations and meet their commitments throughout the project's duration.
Taking these into consideration and keeping on top of constant changes will likely mean that you deal with several different suppliers’ dependent on your needs at that moment. Managing multiple suppliers might seem like a daunting task for many, but with Evolution Mx this task has never been easier.
Because Evolution Mx is a construction industry specific management system, users can log products and materials from multiple suppliers for purchase orders to be made by staff on site at any time. When purchase orders are made site teams can search for suppliers or materials as they choose, ensuring no confusion or delays in your processing.
To learn more about how Evolution Mx can improve your supplier management solution you can reach out to our team of experts and book your free demo here today.