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NetSuite ERP for Construction and Project-based Companies
ARTICLE -- In the fast-evolving construction industry, efficiency, cost control, and scalability are crucial for success. Construction and Project-based companies face mounting pressure from project complexity, supply chain issues, and regulatory demands; many are turning to integrated cloud solutions like NetSuite + FullClarity to manage their needs.
Decoding Construction Management
ARTICLE --Construction management involves complex terms crucial for project success. Understanding terms like Retainage, Gantt Scheduling, and Job Costing is essential. Decode these terms with this guide for 10 important Construction Management terms commonly used but have yet to be widely understood.
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.
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a common financial practice meant to guarantee the quality and completion of a contractor's work, is often burdened by outdated manual management techniques that pose significant challenges for construction companies and project-based organizations.
