Foresight to navigate the turbulent construction market
In the challenging construction sector, companies are looking for new ways of doing more for less. With foresight at a premium, making the most of the data available – ‘data analytics’ – becomes a critical component in the fight for survival.
Building blocks for growth
Lessons from the downturn for construction companies
As growth returns to the construction industry, what business lessons can be drawn from the downturn to drive performance and resilience going forward?
When the sun is shining, fix the roof
At long last, the recovery has reached the construction industry, and as contractors race to capitalise on the rises in demand, it is important to reflect on the business lessons learnt during the downturn.
Having worked with many of the major contractors throughout the challenging market of recent years, here we offer some observations on the key insights that will bolster performance and resilience for construction companies going forward – the 'Building blocks for growth':
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This is a cyclical sector – with more focus on reading the economic conditions and pipeline, could contractors have predicted and responded to the downturn more effectively?
Did they have the right controls, people, data and processes in place to manage as well as could be expected?
Coming out of the recession will pose its own challenges too, particularly around managing supply chain risk and as companies stretch to deliver order books won at competitive rates in the context of rising prices.
The right mix for the construction market
Deloitte offers a comprehensive range of business advisory services for building contractors - from strategic and financial advisory to PPP bid support and operations consulting, as well as specialist contract and commercial risk management expertise.
With a deep understanding of the sector and extensive industry experience, our dedicated Contractors network brings together the very best of Deloitte’s leading expertise into practical, integrated solutions to address the challenges and opportunities of the construction market.
Supply Risk Mitigation
The insolvency of a supplier can bring costs from production stoppages or delays, stock outs, revenue loss and the cost of adjusting your own production cycles to different materials with no warning. Monitor supply risk and implement strategies to mitigate the consequences.