Construction inventory management is a means by which construction companies and suppliers can keep track of materials, workforce, equipment and plant. This is particularly important when a construction company has multiple projects to manage, as efficient scheduling can become very complicated.
A well-managed inventory can be critical to profitability as delayed, misplaced or lost items can incur avoidable delays and unnecessary costs. A project timeline, planned in advance, with a full inventory of the required materials, labour, equipment and so on is a vital part of the project planning process.
Controlling Construction Inventory allows a company to manage the intricacies associated with maintaining costs, optimal stock levels and effective reporting. The inventory management software keeps track of inventory on hand, the minimum and maximum inventory counts, bill of materials, and tracks what a construction company purchases from multiple suppliers.