Cost Planning in Uncertain Times
Conquer Material and cost instability with proper planning
Volatile markets, rising material costs, and labor shortages are making it more important than ever to keep your eye on the bottom line, and plan ahead for project work. In the current economic landscape, everything is more expensive than it was previously. Combine that with the shortages faced by manufacturers due to the global pandemic & political unrest, and you’ve got a recipe for disaster if you’re not planning ahead.
Order materials immediately
Material shortages and price increases have affected manufacturers since early on in the pandemic. The substantial increase in inflation creates additional issues for both suppliers and contractors.
Anticipating material needs, and sourcing them immediately upon project award is key to getting ahead of potential delays.
- Avoid long lead times and increased shipping costs by ordering necessary products immediately upon project award
- Be sure to consult with Perfect Polish project management on projects you’re awarded by us, to be sure that all required materials are accounted for in your ordering
- Save by maintaining an accurate inventory of materials on-hand, which helps avoid over-ordering
- Make your project management staff aware of potential shortages, bottlenecks, and material sourcing problems. Perfect Polish PMs may be able to help find alternative products or sources for our projects
- To reach out to one of our project managers, click here
Maintaining contact with manufacturer representatives and distributors is a great way to stay up-to-date on what products might be increasing in price, or on back order. Improving these relationships provides you with a contact who can assist in procuring product, or can help you network with others who might be able to help.
tips for resource management & planning
- Leverage your contacts with manufacturer reps or distributors you buy from regularly
- Be sure to create an effective method of inventory management
- Document and analyze your production and tooling consumption over time to effectively order for project work in the future
- Maintain your equipment to avoid costly repairs & job interruption
- Anticipate long lead items and set expectations when lead times and schedules don’t align
- Be prepared with alternative products that are equal to other projects for easier reference
Take advantage of discounts and credit terms on Concrete Polishing Solutions consumables and chemicals while working on Perfect Polish projects. Contact Concrete Polishing Solutions here to learn more.
Creating a plan for each project and communicating effectively with manufacturers and clients improves outcomes and can help increase your profit.
Ongoing material & inventory PLanning tips
- Contact manufacturers regularly for updates on lead times and inventory
- Understand your material needs for each scope of work you perform
- Be prepared with an accurate inventory of your current on-hand product and tooling, so you don’t over- or under-order
- Make note of product alternatives that might be allowed as substitutions, should the specified material be unavailable
- Reach out to your Perfect Polish project manager to determine what materials are required for our projects, as sometimes there are no substitutions allowed