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More Productivity is a Must to Make a
PROFIT
Doing more with less is essential to secure both bids and profits on construction projects
I
n thinking about this column, straight away, I planned to review here what I knew I would learn at the Independent Equipment Dealers Association (IEDA) annual meeting in Orlando, because the speakers were going to discuss the 2022 construction markets, as well as changes they would need to make when dealing with contractors going forward. And wow, what a program! Anyone connected with
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the construction industry would have taken away ideas on how to improve profitability while dealing with: • Inflation • Supply chain issues • Workforce needs • Interest rate hikes • Cap-X plans • Maintenance issues • Technology to address contractor activities Some of you reading this list are thinking these issues don’t apply to you. If that’s what you're thinking, you are 100% wrong. You are wrong because the construction industry realizes it has been on the wrong side of the
productivity equation for the last 100 years and is now taking steps to cut costs while becoming more efficient. Just read the daily ForConstructionPros. com Headline News e-newsletter if you don’t believe me. STICK WITH WHAT YOU DO BEST Tom Christerson, director of sales at EquipmentWatch, started out the IEDA meeting with an example of what to expect in the market. He summarized a study that showed contractor input costs had increased between 25% to 29% in 2021, with an expectation of remaining at this level for some time. As part of
PAVEMENT MAINTENANCE & RECONSTRUCTION | May 2022 | www.ForConstructionPros.com/Pavement
