In the construction industry, it is imperative to understand the flow of materials from one phase to another. Construction management software with an advanced inventory management module can help the business stay up-to-date on material distributed or returned to and from various channels. A good inventory system plays an important role because it makes the tracking and monitoring process much easier for management. This module also keeps track of purchase orders and materials supplied to various construction sites of a company. There are several benefits of Inventory Management software in Construction Management because it deals with tracking the items and materials used in the construction process.
Inventory management features in construction management software.:
With inventory management software it is possible to organize, update and analyze data, including the time it takes for the supplier to process orders, ship them, and the time it takes for materials to reach the desired location. With this information, company managers can plan the workflow, decide when to buy the necessary materials and how much to order.
The Inventory module also helps the construction company to calculate the reserve stock, which is the reserve material to protect against unforeseen demand. This feature helps minimize the risk of work interruption due to lack of materials.
The inventory management module is not only about calculating the amount of materials needed, it is also about tracking those materials through different phases, calculating the amount of materials used during different phases, and alerting or reporting when inventory levels they’re short.
Aside from the reasons mentioned above, some of the other common benefits of an inventory module include the recording of the material sent or received, the management of purchase orders, the recording of rejected or returned materials, the ability to record the transfer of materials , etc.
Benefits of using inventory management in construction management software:
Reduce paperwork – Manual record keeping can involve a large number of files. They take up a lot of space and a lot of paperwork would be involved. On the other hand, using an inventory management tool, the data will reside on the centralized server that can be accessed when needed. Using a web-based construction software is highly recommended to deal with heavy record keeping. In this way, paperwork would be greatly minimized.
More Accuracy: For large construction companies, maintaining the accuracy of data and records is a challenging task. If the work is done manually, human errors can be found in various documents. This can create ambiguity and therefore hamper project progress. To avoid such scenarios, inventory management should be used in a suitable construction software.
Proper Materials Estimation: It is possible to estimate the exact requirement for materials if the data is properly maintained. With a good inventory management module, the construction company can better plan the use of available materials. This will increase the operational efficiency and productivity of the company. Software can also contribute to cost savings more than ever.