Take a Materials-Centric Approach and Have a Tight Grip on Resources

With materials costing almost 65-70% of the construction project costs, the impact of the cost of materials on the success of any construction project cannot be ignored. Effective materials management, therefore, becomes critical for the profitability of any construction project. Any technology solution that you choose for your organization should regulate and optimize materials usage to address wastage and cost leakages.

Gain-more-focus-on-the-bigger-pictureA construction management suite like Steer prides itself on adopting a unique materials-centric approach to resource management. The materials management module of the platform is designed in such a way to tightly connect all factors that affect materials use, to ensure wastage is minimized and cost leakages are addressed. The Steer platform, with all its reports, also helps decision-makers understand materials variance and optimize it going further. The reports which Steer helps generate – Cost and usage variance report, Inventory status report, daily waste log, and the KPI variance report help supervisors and managers take decisions to optimize materials use and boost profitability.

The materials management module of the Steer platform has three key modules – Materials Requisition & Order Processing, Inventory Management, and Waste Tracking.

The materials requisition and order processing sub-module has the following key elements -- planning and scheduling as per BOM, ad-hoc request of materials, consolidated requisition per job site, integration with accounting for the purchase order, and delivery scheduling. Some of the reports include the request status report and the cost variance report.

The inventory management sub-module consists of the stock count, tracking receiving, releasing and return, and barcode/RFID scanning. Some of the reports which support this sub-module include inventory status reports and usage variance reports.

The waste tracking sub-module is increasingly finding relevance among construction companies. It boasts of waste reporting from BOM data during construction, demolition, renovation, and excavation waste reporting and a detailed breakdown of individual waste materials. The daily waste log and the KPI variance report help managers effectively track the disposal of materials waste.

Steer’s unique materials-centric approach allows construction companies to be more profitable. Book a free personalized demo today to see Steer’s unique materials-centric approach and the potential impact it can have on your construction business' profitability. You can also subscribe to our newsletter or  follow us on LinkedIn or Facebook to get more updates. 

Siddharth Wadehra, Head of Partnerships & Research

Sid Wadehra is a seasoned and a result-oriented professional with varied experience spanning geographies from leading multinationals to fast growing start-ups. His industry experience is well-complimented with business education from a global business school. Sid's expertise include digital transformation, corporate strategy, and innovation management.

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