Five Companies Modernizing the Construction Industry v3
By Melody Eve Ramos
The construction industry had long endured a reputation as a slow adopter of technology but in the past decade, there has been a flurry of innovation to improve contractors’ operating efficiencies and generate more profit. Today, contractors are racing to integrate and innovate their operations to set themselves apart from their competitors.
Here are three areas where modernization is needed and companies meeting those needs:
LOGISTICS
Logistics is generally the management of the flow of things between the point of origin and the point of completion to meet client requirements. Traditionally, contractors and program managers have managed logistics in an analog-driven way. This style can often lead to miscommunication between teams and lag in decision-making. To remain effective the construction industry must adopt digital management tools and software.
Two businesses looking to solve this hurdle and make the transition to digital easier are Viewpoint and ConX.
● Viewpoint hopes to lead a shift toward decision-making based on real-time digital collaboration and business intelligence by offering a suite of integrated, cloud-based construction software and mobile applications.
● ConX’s solution to modernization is streamlining the preconstruction process with their software platform designed to manage estimating and tender management tools. They aim to help work more efficiently and quickly.
SUPPLIES
Supply chain issues are a notorious problem in construction. Securing materials and ensuring delivery are vital to the completion of a project. Contractors spend hours finding the right materials for their projects only to be left frustrated when suppliers are unable to ship the materials on time. Issues can arise for many reasons including weather, staffing, and global health crises.
Here are two companies addressing supply chain issues by connecting vendors and clients through their digital platforms.
● Curri aims to solve one of the hurdles for construction suppliers who miss out on sales because of an inability to deliver to contractors when they need it. Curri gives suppliers an easy-to-use online system to secure shipping nationwide.
● AMAST is a one-stop shop for contractors, sub-contractors, management companies, and developers. AMAST aims to modernize construction by seamlessly connecting vendors to trusted customers. AMAST saves their clients time and money on projects, by helping customers find and obtain supplies quickly.
BUILDING
To keep up with demand, cut costs, and enhance safety new construction methods are being adopted. Offsite or modular construction, as well as 3D printing, are new methods gaining momentum. One company at the forefront of these new methods is Mighty Buildings.
● Mighty Buildings, an Oakland-based construction company, implements both prefabrication and 3D printing into their design model. Their construction model saves time, money, and labor costs for contractors with as much as 95% decreased labor hours versus conventional construction. Their business model has landed them $22M in Series B funding, proving industry insiders are keen to support modernization efforts.
Modernization will be vital in the construction industry in the coming years. All aspects of the industry can be modernized. From planning to building, the above companies prove that there are modern solutions.
https://www.marketplace.org/2021/09/07/construction-industry-still-hammered-by-supply-chain-issues/ https://www.viewpoint.com/blog/how-to-modernize-construction-management https://industrytoday.com/construction-businesses-are-modernizing-due-to-covid-19/ https://www.cemexventures.com/projects/conx/ https://news.amast.com/ https://www.curri.com/ https://www.forconstructionpros.com/construction-technology/article/21080698/its-time-to-modernize-your-construction-operations https://www.enr.com/articles/46605-building-new-foundations-for-modernization-in-construction