McKinsey recently shared an article on how they believe companies up and down the construction supply chain can survive and thrive during and after the COVID-19 crisis. The article closed with seven things construction firms can do to increase their chances of success:
Accelerate rollout and adoption of digitization - after a paragraph of discussion, BIM is the what the article said should be rolled out.
Invest in the culture and skills needed to operate in the next normal - discussed several options but emphasized BIM in the end.
Build a control tower across the portfolio - after a paragraph of discussion, the authors describe this as firms maximizing all resources available.
Bolster supply-chain resilience - if impossible to find alternative partners, firms will make their own stuff and solutions.
Redeploy capital and resources - explanation essentially said to invest money properly and that COVID-19 might force firms to act right.
Identify opportunities to shift work off-site - fairly obvious as most firms have been working towards this. COVID-19 might just expedite this process.
Get closer to customers - strive to partner with customers prior to and during construction projects. Truly understand customer needs and values and deliver on them.
For the full article and additional commentary provided by McKinsey, check out their article.
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