5 tips to Manage Inventory in the Construction Industry

Construction work cannot start without raw materials as they are the most important thing needed at a site. But all the raw material cannot be used at once and to keep track of all the inventory is a hard task. From its purchase to its storage, inventory management asks for proper care. By following the mentioned suggestions, you can efficiently handle the Inventory.

5 Tips for Inventory Management

1. Analysis

The first and major aspect of managing inventory in the construction industry is to analyse the present inventory. It is essential to keep a record of all the raw materials you have and keep in check if they still can be used or if they are just eating up space in the warehouse. 

2. Use of technology

Use an app like Onsite to keep a daily check of the inventory. Our app will allow you to keep track of what raw material, in how much quantity has been moved to and at which location. Not only that, but it will also help you keep track of your ordered raw materials, where they are ordered from, in what quantity, and when will reach you!

3. Workforce balance

Find the right person for the job at hand. Keep a check on what task you have at hand today and only call those labor or workforce that are required for that specific task. It will keep track of inventory as well as save you some money. 

4. Time management

Time is money. Keep an eye on the timings of the tasks and hand the raw material or machinery required for that task. If you are a step ahead and keep these things in mind, you will not only finish a task on time but with ease and save some money.

5. Communication

Communication is a crucial part of any successful business. Keep the teams well connected so they not only have a proper knowledge of the project but also inventory and there are fewer chances of clashes, especially in the use of any specific machinery or tool.

Benefits of using Inventory Management Software

1. Minimise Material Wastage 

With the help of Inventory Management Software, you can estimate the amount of material that can be used at a site which helps in avoiding over purchase of material. You can keep track of material purchased and know how much it is being used. By avoiding over purchase, you can promote the minimal waste of material. 

2. Saves Money 

Often when material arrives, there are chances that it is less in quantity, but contractors end up making payment of the amount that they ordered. With the help of Inventory Management Software, you can keep track of how much amount has arrived and you can make the payment for the actual material you have purchased. 

3. Decision Making 

There are times when you end up ordering extra raw materials for a particular project and now that it is of no use, it can be wasted but instead of wasting it you can take it back to the warehouse and save it there for your next project. Now, while managing a warehouse, you can make decisions to utilise the raw materials on other projects. 

4. Visibility & Clarity 

Now, with the help of Inventory Management Software like Onsite, you can keep track of movements and usage of raw materials which provides you the visibility of their movement and clarity of their usage at a construction site.

Conclusion

Inventory Management Software has been a source of bringing efficiency and productivity to a construction management process. Onsite, bring so many features to manage inventory that can be known when you use the software. It helps contractors in many ways. By following the tips, you can add further efficiency in your inventory management and bring productivity to the management.

FAQs

1. How does Inventory Management Software help in saving money?

Often when material arrives, there are chances that it is less in quantity, but contractors end up making payment of the amount that they ordered. With the help of Inventory Management Software, you can keep track of how much amount has arrived and you can make the payment for the actual material you have purchased. 

2. How time management helps with enhancing inventory management?

Time is money. Keep an eye on the timings of the tasks and hand the raw material or machinery required for that task. If you are a step ahead and keep these things in mind, you will not only finish a task on time but with ease and save some money.

3. How inventory Management Software influences decision making?

There are times when you end up ordering extra raw materials for a particular project and now that it is of no use, it can be wasted but instead of wasting it you can take it back to the warehouse and save it there for your next project. Now, while managing a warehouse, you can make decisions to utilise the raw materials on other projects.