Real estate developers and builders are increasingly opting to buy construction materials online via procurement platforms to optimize building materials fulfillment. The diversity of products coupled with the cost benefits of online procurement enable project managers to maximize budgets for construction projects. Procurement managers can buy building material online seamlessly, while reviewing products based on grades, quality, brand and other key characteristics.
This significantly simplifies the process of procurement, enabling teams to become more agile in their decision-making. Several pre-qualified suppliers can also be reviewed, who can be reached out directly via the platform thus expanding the supplier network. Competitive bids may also be issued for any number of products, thereby ensuring developers receive the best price for the best products.
Here we list down the top reasons why project managers must choose to buy construction materials online in 2020:
Cost efficiencies of buying construction material online
There are critical benefits of buying construction materials online in 2020. Chief amongst them are the cost efficiencies that are provided as a key part of the online platform. Materials, fittings, and components can be sourced directly with transparency throughout the entire process.
The pricing of key products such as RMC, steel, flooring tiles and TMT bars may fluctuate depending on the suppliers and industry conditions. With a wider range of products available, online platforms can help project managers balance these price differences adeptly, while giving them the necessary tools to find best prices. Project managers can also set customized requirements, which may be fulfilled directly by leading vendors.
With greater impetus to maximize budgets, teams are increasingly going online to find the best materials for their project. The innovative nature of online procurement is empowering teams to work with leading solutions within product categories. Products are delivered without delays, while the quality can be reviewed upon arrival.
Greater speed of sourcing & fulfilment
When it comes to online sourcing, the fulfilment of construction materials is much faster when compared to traditional methods. Instead of physically meeting or connecting with tens of vendors, procurement teams can leverage a robust dashboard to interact with them virtually. It also allows the buyers to reap benefits of a large network of pre-qualified sellers, thereby enabling agile & just-in-time principles to be fully implemented within the firm.
Teams can also move on to the development stage much faster, knowing that the appropriate building materials are available across the project lifecycle. With smart procurement, firms can buy construction material online and focus on optimizing inventory deployment to the job site.
Comprehensive procurement management & delivery
Digital procurement platforms allow teams to track the flow of inventory from order to utilization. This empowers project managers, giving them greater control over the process. Procurement management is highly optimized when a comprehensive online portal is leveraged to fulfill all material requirements.
Buying a wide range of construction materials online, or through a B2B platform, also allows project managers to build long-term relationships with vendors, from whom they can continue buying key materials. By communicating directly via the platform, there is limited ambiguity about order requests, as well as payment terms for critical assets. Clarity and transparency are enabling firms to develop long-term relationships with some of the largest suppliers in the country.
Planning is also significantly enhanced when real estate and construction firms purchase via online platforms. This is due to the flexible range of options available, along with the comprehensive tracking, reporting and & management capabilities provided. Project managers can communicate with vendors directly and float RFQs based on unique industry requirements.
Better forecasting of building materials
Project managers can also forecast requirements better as they continue to procure construction material online. Online portals enable firms to track fluctuating prices, compare different brands, and keep abreast of upcoming product launches.
Teams also emerge more agile when they work with a marketplace and are more informed about industry movements. This is enabling them to prepare comprehensive estimates and ensure that projects comply with the outlined materials portfolio.
Unified purchase experience for buyers
With the help of smart procurement platforms, firms can enjoy a unified purchasing experience, which greatly streamlines the entire process. Procurement managers can also review raw materials via their mobile devices, and place orders on key products on the go. Buying teams also become an active part of the overall project scope, with greater attention given to reusable resources, high-performance materials, and unique offerings.
Sourcing teams can also compare material characteristics, scout eco-friendly alternatives, and float RFQs for specific raw materials for unique projects. When sourcing teams buy building material online, they’re able to tap into a larger pool of vendors that can provide them with extensive documentation on the product they’re reviewing.
It’s critical to procure construction materials in the most efficient manner possible in order to maximize the development quality of the construction project. Online procurement platforms, such as BuildSupply, help streamline the buying process while providing one platform where complete fulfilment can be accomplished. The time savings, along with cost benefits, enable project managers to develop projects in an expedient manner without worrying about procurement delays or delivery hassles.