Inflation continues to creep up, and everyday items are becoming more expensive. A supply chain crisis that originated from bottlenecks and shipping delays at the start of the pandemic continues to wreak havoc across the globe.
Effects have been felt everywhere and across multiple industries, but homebuilding has been hit particularly hard. As the demand for new homes rises and materials continue to be in short supply, the prices for both materials and the homes themselves are steadily increasing. Basic materials such as lumber and steel are getting harder and harder to find which is delaying construction of millions of much-needed new homes.
How can homebuilders identify bottlenecks and supply chain issues ahead of time so they are adequately prepared?
The answer is in the data, and how homebuilders can use their data to gain valuable insights throughout the construction process. When a company has better visibility into its data, more informed decisions can be made.
Got the supply chain blues? We’re here to help. Reach out to our sales team to learn more about our homebuilder solutions.
A lack of visibility can lead to inefficient reporting, overspending, and missed opportunities. For example, when homebuilders can analyze their upcoming home starts and construction schedules and see what materials will be needed in the future, it is much easier to get ahead of supply chain issues that may arise. While these problems cannot be solved by homebuilders, data analysis helps identify them much faster.
Without the right insight, the homebuilding process can be complete chaos. A few years ago, a builder could call their supplier and easily order different materials if needed. Now, not so much. These ongoing supply chain issues can create nightmare scenarios for both builders and buyers. No new homeowner wants to hear that their appliances could take another six months to arrive when they’re just a few weeks out from moving in.
Supply chain bottlenecks are here to stay for a while, but effectively managing your data can help you avoid any unpleasant surprises. informXL helps homebuilders organize and simplify their data for more informed decision-making and a more efficient reporting process. This leads to increased foresight into potential problems that could arise later in the construction process, meaning fewer headaches for homebuilders and fewer calls to buyers delivering bad news.
The explosive growth of industry data is enabling builders to become true data-driven organizations. We work exclusively with homebuilders, and we understand just how overwhelming all that data can be-especially right now! If you’re ready to learn more about how better data insights can help alleviate your company’s supply chain woes, reach out to us today.