Build Magazine April 2016

Build Magazine 49 trading with removes risk, yes, but it also may highlight some suppliers whom you may want to work more with. This is especially true in the case of SMEs, who may not have the ability to promote themselves, but when buyers are aware of their capabilities, it provides them the opportunity to win more business as they are a certified, reliable supplier. Understanding your supply chain enables you to drive a holistic view of the business, and a trading culture can be driven from tier one, all the way down. Challenges gaining visibility of suppliers To have a strong, cohesive construction sector, supply chain visibility is vital. It will allow buyers and suppliers to start working together more, which in turn will benefit the sector greatly. It enables upskilling in the supply chain, so buyers can have confidence in the suppliers they are using. We have seen these benefits from running our construction communities across the world, where leading firms work collaboratively to manage the risks associated with all their suppliers. This includes Building- Confidence in the UK, used by 20 buyers to manage risks associated with 2,500 suppliers. As demonstrated by the research, construction businesses are leaving themselves open to risk and legislative non-compliance, but knowing who you’re working with is a necessary step to safeguard your business’ future.