Real estate benchmarks are created by finance teams who budget or estimate the total cost in terms of leasing, renovating, construction, procurement, etc. The team communicates the requirements to procurement.
The pandemic put an enormous strain on global supply chains, at times halting manufacturing while shutting down airports and seaports, interrupting delivery of raw materials and finished goods. At the pandemic's onset, procurement departments switched to crisis-management mode to help companies alleviate disruptions, including sourcing personal protective gear for employees and helping smaller suppliers manage their cash flow.
Construction Week speaks to procurement heads of real estate companies to find out some of the modern ways they deal with the job.
Nanda Kumar, DGM, purchase, Century Real Estate, says, "For faster and more efficient procurement, we use e-bidding portals and reach out to e-platforms to connect with more vendors. To shorten approval times, we have moved the internal approval process to mobile platforms. Though the technology platform we use gives us necessary information regarding the procurement to be done, interval, and forecast, we need to drill down further as to whether we can knock down the components, assemble them at the site, and accommodate for critical components that can come later. We do this all while ensuring the work is complete and the end date is not compromised."
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Denne historien er fra April 2022-utgaven av Construction Week.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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INFRA COMPANIES
In a significant move to alleviate traffic congestion and enhance connectivity, the Mumbai Metropolitan Region Development Authority (MMRDA) appointed contractors for key road infrastructure projects in Mumbai and Thane.
Global standards
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For the past six years, we have resorted to ranking Top 100 real estate and infra companies.
THE DYNAMICS PROPELLING REAL ESTATE GROWTH IN KEY CITIES
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Design International has been at the forefront of retail-led design for 60 years. Staying sustainable and contemporary is their mainstay
dormakaba EXPANDS ITS MARKET PRESENCE IN INDIA
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GODREJ PROPERTIES ACQUIRES ITS 11TH NEW PROJECT; TAKES BOOKING VALUE TO RS 22,950 CRORE!
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SIGNATURE GLOBAL AWARDS RS 1203 CRORE CONSTRUCTION CONTRACT TO CAPACIT'E
First phase comprises 2.1 million sq-ft
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Six salient growth levers include urbanization, demographic shifts, digitalization, sustainability