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HomeProcurementSix Essential Areas for Controlling Construction Inventory

Six Essential Areas for Controlling Construction Inventory

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.

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Tai Cheoh Wei, DPSM
Tai Cheoh Wei, DPSM
Tai Cheoh Wei has substantive experiences in the furniture and exhibition industry, specifically in the field of inventory planning and control. She is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). Cheoh Wei completed the Diploma in Procurement and Supply Management (DPSM) course on December 2018 at SIPMM Institute.

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