Bidding, Cash Flow and Procurement - Professional Constructor Central

The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses

Levelset

MARCH 11, 2022

Prioritizing a low bid over contractor performance is a lose-lose procurement strategy. Unfortunately, low bidding is an accepted practice for both owners and contractors alike. Owners will say that focusing on the lowest bid possible ensures they get a good price. Who’s responsible for low-bid procurement?

Bidding

Bidding Cash Flow Contractors Procurement

The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

FEBRUARY 11, 2019

Construction teams face unique procurement challenges due to the complex nature of the business. It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. As technology changes the game, procurement is becoming a strategic juggling act. Procurement Software. Click Here.

Procurement

Procurement Plans Construction Budgeting

The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

FEBRUARY 11, 2019

Construction teams face unique procurement challenges due to the complex nature of the business. It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. As technology changes the game, procurement is becoming a strategic juggling act. Procurement Software.

Procurement

Procurement Plans Construction Budgeting

Step Up Your DEI Initiatives with Certification Tracking in BuildingConnected

Autodesk Construction Cloud

NOVEMBER 16, 2022

times higher cash flow per employee over a three-year period than non-diverse companies.” The AGC also points to a study by the Hackett Group, showing that firms that focus on supplier diversity see 133% greater returns on the cost of procurement operations. . Easily find diverse trade partners during the bidding process.

Certification

Certification AGC Cash Flow Bidding

No easy rides for late payment reform

Construction Law

OCTOBER 1, 2019

The government is effectively claiming that it only wants to do business with companies that promptly pay their suppliers, many of which are small businesses that can be destroyed because of the impact of late payment on cash flow. If they are, large suppliers are going to struggle to fund the cash flow hit. Nick Barrett.

Cash Flow

Cash Flow Procurement Contract Office

8 Tips to Manage Cash Flow Like Your Construction Business Depends on It

Autodesk Construction Cloud

JANUARY 19, 2022

Cash flow can make or break any business, especially in the construction industry. To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations. Effectively connect cost and time.

Cash Flow

Cash Flow Management Profitability Change Orders

Subtle (and Not So Subtle) Effects of COVID-19 on the Construction Industry

Constructlaw

SEPTEMBER 10, 2020

For public contractors, as the current backlog of work is burned off, the scarcity of future work can significantly strain cash flow and possibly the viability of the company. It is imperative to remain disciplined in bidding, watch your margins, stay within the geographical footprint and industry sectors.

Industrial

Industrial Union Contract Claims

Facilities are NOT Commodities – LEAN Best Management Practices

Building Information Management

JANUARY 15, 2016

Experienced owners, contractors, procurement managers, architects, or engineers agree that early and ongoing collaboration among dedicated and experience stakeholders generates the best construction outcomes in terms of quality, timeliness, and maximized return on dollars expended. is simply not doing their job.

Management

Management Renovating Cash Flow Life Cycle

Rory Woolsey's Construction Estimating Blog: Losing Your Shirt.

Rory Woolsey

FEBRUARY 28, 2012

Knowing where the key project metrics such as time , costs, resources , and cash flow are relative to a datum (the project plan). A poor plan for time, costs, resources and cash flow is sometimes worse than no plan. Time schedules, resource schedules and cash flow plans all come from a well thought out cost estimate.

Estimating

Estimating Cash Flow Budgeting Budget

Top ten software for estimating and bidding

Construction Cost Estimating

APRIL 25, 2019

Sage facilitates you to produce bids rapidly, precisely and positively with takeoff and cost databases. As soon as the project is procured, estimate details flow automatically into Sage business management software, removing unnecessary tasks and data entry errors. Besides, customized reports can also be generated.

Bidding

Bidding Estimating Software Software

Guide to Supply Chain Management in Construction

Autodesk Construction Cloud

NOVEMBER 8, 2022

It also helps to adopt solutions that make it easy to amend costs and bids. In a rapidly changing environment, having updated info is critical for putting together accurate budgets, quotes, and bids. . These integrations speed up admin and procurement tasks, saving time and lowering unnecessary costs. . Tech to try .

Management

Management Construction BIM Materials

Construction 4.0—What it Is and How to Get Ready

ProcurementExpress.com

APRIL 15, 2019

Procurement teams will need to consider pre-fabrication and 3D printing along with traditional sourcing methods. According to that same McKinsey report, procurement and supply chain management are still relatively cumbersome, mostly manual processes. 3D Printing and Procurement. Supply Chain Optimization. Lean Construction.

Procurement

Procurement Construction BIM Modeling

BIM, Value Management, Life-cycle Cost Management

Building Information Management

MARCH 19, 2013

This is so that the project that is procured would economically viable through its entire life span. It is also defined as the total cash flow of the project from the conceptual stage to the disposal stage (Bennett, 2003). The modern procurement system (i.e. In this case, end-users are left to bear the maintenance costs.

Life Cycle

Life Cycle Management BIM Engineering

Construction 4.0—What it Is and How to Get Ready

ProcurementExpress.com

APRIL 15, 2019

Procurement teams will need to consider pre-fabrication and 3D printing along with traditional sourcing methods. According to that same McKinsey report, procurement and supply chain management are still relatively cumbersome, mostly manual processes. 3D Printing and Procurement. Supply Chain Optimization. Lean Construction.

Procurement

Procurement Construction BIM Modeling

15+ Top Construction Trends for 2022

Autodesk Construction Cloud

JANUARY 31, 2022

AEC firms should be ready to position themselves as leaders in using technology to meet the legislation’s goals when bidding for projects that will define the next generation of U.S. Tech-first approach will shield from procurement challenges and risk. infrastructure.” infrastructure.

Construction

Construction Autodesk BIM Modeling

Professional Constructor Central

The High Cost of Low Bids: When Contractors Compete on Price, Everyone Loses

The Unique Challenges of Procurement Planning for Construction Companies

Trending Sources

The Unique Challenges of Procurement Planning for Construction Companies

Step Up Your DEI Initiatives with Certification Tracking in BuildingConnected

No easy rides for late payment reform

8 Tips to Manage Cash Flow Like Your Construction Business Depends on It

Subtle (and Not So Subtle) Effects of COVID-19 on the Construction Industry

Facilities are NOT Commodities – LEAN Best Management Practices

Rory Woolsey's Construction Estimating Blog: Losing Your Shirt.

Top ten software for estimating and bidding

Guide to Supply Chain Management in Construction

Construction 4.0—What it Is and How to Get Ready

BIM, Value Management, Life-cycle Cost Management

Construction 4.0—What it Is and How to Get Ready

15+ Top Construction Trends for 2022

Stay Connected