In an increasingly digitalised world, the construction industry is looking to embrace technology to revolutionise its processes. Issues like improving sustainability, price inflation, and product availability can all be tackled via digital solutions. Digital procurement, for example, has the potential to empower construction companies to streamline their sourcing and purchasing processes.
From improved cost management and supplier collaboration, to enhanced data insights and sustainability practices, the benefits of online procurement solutions for the construction industry are many.
Increase efficiency
Digital procurement solutions can be utilised to streamline or automate activities that were traditionally manual. Where previously buyers needed to contact multiple suppliers, online procurement portals can facilitate the submission of a single enquiry form that is automatically delivered to appropriate suppliers, saving plenty of time.
Address product availability
Traditional procurement processes which require manual outreach to a variety of potential suppliers carry the risk of none of the suppliers you contact being able to fulfil your enquiry. Adopting a digital procurement portal creates a process where suitable suppliers come to you directly so you never waste time contacting supplier who can’t help you.
Mitigate price inflation
Many organisations use the same suppliers for every order or do not have the time to carry out price comparison exercises, which runs the risk of paying too much. An online procurement solution can mitigate this risk and price inflation challenges by making it much easier to compare quotes from multiple suppliers and achieve best value.
Improve sustainability
An online procurement solution can be a driver of sustainable procurement. At The Build Chain, our digital procurement solution has been designed with sustainability in mind. Our system delivers enquiries only to suppliers within a 30-mile radius, helping to facilitate a local supply chain. We’ve also implemented an ESG percentage system which allows buyers to make a decision based on carbon emissions savings.
Easier reporting
Wherever you sit within the construction industry, there will be a need accurately report on your procurement activities. Digital procurement can simplify this process by allowing easier access to more accurate data and automating the reporting process.
Digital procurement processes leverage electronic documentation, enabling easy creation, storage, and retrieval of documents. Cloud-based solutions further facilitate seamless access to relevant information from anywhere.
Increased collaboration
An online procurement solution can bring all procurement activities into a singular location which improves visibility and increases opportunities for collaboration. This is particularly important within the construction industry because collaboration between teams reduces the risk of overbuying and creating waste.
Overall, digital procurement processes offer significant advantages over traditional methods, including increased efficiency, improved accuracy, real-time data insights, streamlined communication, and enhanced supplier management.
By adopting digital procurement, organisations in the construction industry can optimise their procurement workflows, reduce administrative burden, and achieve better overall procurement outcomes.
Online procurement with The Build Chain
The Build Chain was created in direct response to the challenges currently facing the construction industry. We recognised that procurement was an area for improvement and developed a solution that increases efficiency, generates cost savings, and improves sustainability. To find out how, book a demo to see the benefits for yourself.
