“No—you just have to wait,” is among the scariest phrases general contractors can hear—as in, the materials needed for a job are unavailable. As supply chain disruption continues to wreak havoc in the industry, contractors are relying more and more on systems integration, collaborative project management and technology to keep the building going.
Systems Integration in Real Time
Shortages. Delays. Pricing. Labor. All have been in almost constant shift for over a year. As a result, more and more construction businesses are increasingly turning to technology to integrate effort, reduce time wasted in meetings, calls and duplicated effort—and of course, solve problems in real time. Construction Dive reports for example:
Across the industry, companies are looking to technology — everything from 3D-printed building models to barcodes for managing materials — to help them stay afloat through this crunch. Washington, D.C.-based concrete contractor Miller & Long has stepped up its adherence to lean principles, including investing in alternative energy sources, prioritizing proper waste recycling and reducing water usage, said chairman and CEO Brett McMahon. But he believes that BIM — software used to plan, design, construct, operate and maintain buildings that has been around since the 1970s — has been just as crucial. “We feel very strongly that BIM will be the standard industry operating system, just like Windows, in the fairly near future,” McMahon said. “Everything will flow in the virtual design environment, increasingly, in 3D, 4D and 5D scenarios. BIM models allow you to maximize use of materials in as efficient a way as possible.”
While you amp up on BIM and secure needed talent, don’t overlook the immediate boost you’ll experience by gaining control of pragmatics-like securing the bonds you need. Colonial Surety is making it easier and faster then ever —to obtain, manage and monitor needed bid, performance and payment bonds. Contractors who complete a simple qualifying app for Colonial’s surety line of credit even receive, for free, Dun & Bradstreet scores. Pre-qualify and Receive Free Scores Here! Then, once approved for The Partnership Account® you’ll save time and leverage data as you:
- Use your private Owner’s Dashboard® for a personal window into your underwriting profile. Review the statistical analysis of your financial statements and free Dun and Bradstreet scores, profitability, and more.
- Access a powerful online surety management system to issue bid bonds, order performance, and payment bonds, update work in progress, check your current and aggregate limits, view open and closed bid and performance bonds, and more.
- Clearly see your bonding limits, and always have direct access to our underwriter if you need the excess capacity to bid on a job.
- Protect the confidentiality of your bids—after all, no one’s in the middle when you do it yourself, right?
Let’s Do This: The Partnership Account®
Time to Lean In?
Though the principles of lean construction have long been in circulation, there has likely never been a more important time for implementation of this collaborative approach to project management. In fact, some of the 200 designers, general contractors and trade partners that use lean construction are reporting that it’s what has kept them going through this long period of disruption and unpredictability. As experts remind us: Lean improves productivity by reintegrating a siloed industry following six tenets:
- Respect people.
- Optimize the whole.
- Generate value.
- Eliminate waste.
- Focus on flow.
- Continuous improvement.
Sounds especially good these days, right? Take a step toward time savings and better flow today. It doesn’t have to be complicated to be helpful. Let Colonial Surety help: Come on today: The Partnership Account®
Colonial is built on reliability, affordability and dependability. Founded in 1930, we have proven long-term financial stability; we’re licensed in every single state in the U.S.; we are listed by the U.S. Treasury as an approved surety; and we’re rated “A” Excellent by A.M. Best – an accolade of which we are extremely proud. Let’s Partner!