Building resilience in the construction industry

The European construction industry is poised for a comeback; here is what a procurement strategy in construction will look like.

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The construction industry was hit hard by the global pandemic, and although recovery is underway, there is an all-new landscape that construction must grow accustomed to.

Across Europe, industries were hit by the crisis in varying degrees. Construction was no different, but as 2021 progresses, the industry is set to see an uptake of 4.9% with improvements expected in the next few years.

With international shipping costs increasing, shortages anticipated across critical goods, and a 42% fall in the number of European Union workers in the aftermath of the UK’s exit from the Union the road ahead is by no means easy.

It is clear, however, that construction plays a major role in helping Europe recover from the crisis in due time. Although reaching 2019 figures is still a lofty goal that is some time away, the future still appears more optimistic than it does for many other industries at the moment.

What the construction industry needs during this period of uncertainty is resilience and integrated frameworks that can accelerate recovery and offer protection from future crises.

A future-focused procurement strategy in the construction industry

Recovery in any industry is not easy, but recovery in the construction sector seems fated for unique challenges.

A recent BDO survey conducted for companies in the construction and building products and services sector showcases that many construction professionals’ fears range from COVID-19 restrictions to supply chain weaknesses.

48% felt the UK’s construction industry would suffer from COVID-19 restrictions, 45% were concerned about labour shortages, and 91% feared supply chain breakdowns.

The solution to these well-founded fears, along with present challenges such as resource shortages, is the overall transformation of the industry from the ground up.

While COVID-19 restrictions have the power to debilitate any well-functioning industry, digitalisation and cutting-edge transformation can help shore up a business’ operations and ensure that operations can continue despite restrictions.

This means digitalisation across industries and functions including procurement strategy in construction, finance, and project management transformation—which is exactly what we help you leverage, here at Kronos Group.

More value addition is needed to survive labour shortages and a lack of skilled teams. At Kronos Group, we know that your team is the heart of your operations, which is why we offer global training programmes and customised training for your varied teams. This is a sustainable method through which you can build value from the inside out and maintain resilience through the present and future crises.

Our skill and insight in procurement transformation in the construction sector help us leverage the right systems and frameworks for you to ensure robust and responsive supply chains that can hold up against procurement challenges.

The specialisation we offer does not end there.

Whether it is project management for construction, managing construction industry finances or defining the best procurement strategy in construction, we take an integrated approach to help you manage your priorities and achieve your critical objectives in both the short and long term.

The value we deliver

When we drive the transformation of our clients, we look toward pragmatic strategies that are actionable and drive results.

Our approach to procurement in the construction industry, finance in the construction industry, and project management in the construction industry has helped us deliver results on an accelerated timeline.

We have delivered:

Two million euros worth of savings in four months

Global training programmes delivered over six months

A-Z transformation over just five months

Timeless support of a specialised team for lasting value delivery

The services we offer

Building the right frameworks to support your fast-growing business and maintain your resilience requires us to leverage the very best industry knowledge, practices, and methods.

The range of services we support your business with include:

Swift maturity
assessments

Cost
optimisation

A spend management platform

Digital
transformation

Outsourcing services

Training programmes

Functional transformation

Speak to us!

We support our clients with their strategic growth by leveraging our extensive knowledge and evaluating your business perspective with cutting-edge solutions that address current and future challenges.

Benefit from our dedicated consultants’ skills in the fields of procurement, finance, and project management by getting in touch with us today.