Construction Management: Supply Chain and Inventory Challenges in 2024

ARTICLE -- Effective supply chain and inventory management are crucial in the rapidly growing construction industry, projected to reach $11.9 trillion globally by 2024. The sector faces challenges such as material shortages, lack of real-time data, and inefficient resource utilization. Technology offers innovative solutions that enhance supply chain visibility, improve inventory accuracy, and more.

Building Profits Amid Rising Costs in the Construction Industry

ARTICLE -- In the construction industry, the escalating costs of labor and materials are not just a temporary inconvenience but a significant threat to financial stability and profitability. As companies juggle multiple projects, the lack of visibility into the actual profit loss due to these escalations becomes a persistent issue, often leading to a margin erosion spiral that is difficult to control.

FullClarity Forges a Partnership with OSSM

ANNOUNCEMENT: -- FullClarity is thrilled to announce its strategic partnership with OSSM, a distinguished NetSuite Solution Provider Partner based in Ireland. By joining forces, FullClarity and OSSM are set to deliver unmatched, comprehensive ERP solutions designed for the construction and fit-out sectors throughout Ireland and the U.K.

Constructing Success in 2024

ARTICLE -- Automation promises to address the construction industry's chronic inefficiencies by streamlining operations, enhancing accuracy, and providing real-time insights. Studies estimate that full-scale digitalization in nonresidential construction could lead to up to 20% cost reductions and shorten project timelines by as much as 30%.

Rethinking Retainage: The Quest for Greater Efficiency in Construction Management

ARTICLE -- Retainage, a common financial practice meant to guarantee the quality and completion of a contractor's work, is often burdened by outdated manual management techniques that pose significant challenges for construction companies and project-based organizations.

Navigating the Automation of AIA Billing in Construction: Challenges and Solutions

ARTICLE -- The AIA Billing process provides a standardized approach to invoicing and payments for construction projects. Two key documents, G702® and G703®, are essential for maintaining clarity, transparency, and contractual adherence and should be automated in your ERP.

Construction Management 2023: Overcoming Material Shortages and Premature Deliveries

ARTICLE -- 93% of construction firms experienced project delays due to material shortages in 2022, with an average increase in total project costs of 20% after original timelines were exceeded.

Construction Retention - Alleviating Disputes over Retention Releases

ARTICLE -- One key challenge that construction companies face is construction retention, disputes explicitly over retention releases. These conflicts can critically impact timelines, budgets, and profitability. 62% of firms identified retention release disputes as a significant hurdle in 2023.

Tackling Ever-Growing Data Challenges for Construction Management in NetSuite

ARTICLE -- 65% of construction professionals cite data management as one of the top challenges in construction management for 2023. Unlimited storage, single click to view, permission controls, document links, accessibility to NetSuite Sandbox, and easy-to-use upload features are all needed features.

Constructing Success: Unlocking Scalability, Flexibility, and Collaboration with FullClarity Construction for NetSuite

ARTICLE -- The construction industry, traditionally slow to adopt digital technology, is now on the cusp of a significant transformation. Construction companies using automation and cloud-based systems saw a 20% increase in project management efficiency.