Innovation: The key to unlocking the future of smart construction
The construction industry is one of the least digitalized industries in the world. Even when the complexity of the construction projects is high, the construction sector still uses traditional business methods.
Developers and engineers try to meet stringent environmental, health, and safety regulations as they design sustainable, larger, and more technologically advanced infrastructure.
To keep up with the rapidly changing industry dynamics, the construction company must keep an eye on INNOVATION.
Innovations as a catalyst for growth.
The construction industry needs to redesign and redevelop more efficient and sustainable business processes.
Business needs to improve the efficiency, productivity, and quality control throughout all the operations and supply chains, to accomplish the goals of the projects on time and budget.
Considering the supply chain
A solid supply chain is important to react quickly to the industry changes. The supply chains have been negatively affected by the pandemic, and the construction industry is no exception.
The interruptions in the chain supply, the substantial growth and technology advancements, like the automatization, mean significant changes and challenges in the industry.
Construction industry complexity
To understand the complexity of the industry of construction and the multidimensional that it can be, consider the high-level factors involved in just one construction project.
1.- Opportunity management: winning the bid.
2.-Talent management: hiring the right people for the project
3.-Supply chain management: getting the right materials, supplies, tools, and heavy equipment to the project site at the right time
4.-Project executions: building the project through to completion
5.-Operations and maintenance: ongoing support of the finished project
Strategic priorities to help manage construction complexity
Nowadays most companies of the construction sector are considering adopting the technology to connect construction projects in ways that haven´t been seen before.
The solutions of the cloud-based technology can connect all the elements of a complex construction project in one place. Also, digitalization can help construction companies to meet the following strategic proprieties:
1.-Connected construction: Establishing modern construction sites with pre-fabrication capabilities and real-time communication and feedback on site.
2.-Intercompany collaboration: Connecting the entire project team to collaborate on project details and costs.
3.-Digital supply chains: Intelligent automation and predictive processes can improve efficiency, timelines, and project collaboration across planning, construction, and operations.
4.-Digitalization of knowledge and expertise: Accessing information, best practices and highly skilled workers when needed using artificial intelligence (AI), visual work instructions, and other technologies to help improve safety and maintain high quality construction.
5.-Resource visibilities: Tracking and optimizing resources and equipment to manage owned and rental equipment status, reduce costs, and schedule repairs or returns in real time.
6.-Improved cash flows: Digitizing and automating invoice and payment processes to reduce complexity and shorten payment cycles.
7.-Efficient data transfers: Improving the transition from the construction phase to the operational phase with efficient transfer of data, and a digital twin to operate the facility going forward.
Taking the complexity out of construction
As constructions projects become more complex, they need to be capable enough to manage the complexity and responsive enough to react faster than ever.
Considering the benefits of advance technology solutions, the construction industry can reach new levels of flexibility, efficiency, and speed.