In today's property management landscape, housing providers face a multitude of challenges and unique circumstances when it comes to supply chain management. From the lack of contractor visibility, which makes it difficult for property managers to track and supervise contractors’ activities, availability and performance, to the time-consuming nature of sourcing and administrative tasks, traditional methods often fall short of meeting modern demands.
As property managers navigate the increasing complexities, ensuring timely and efficient procurement of services and materials becomes paramount. The integration of advanced technologies has the potential to revolutionise this space, offering enhanced transparency, efficiency, and reliability.
In this blog, we delve into the primary challenges faced in property management supply chains and explore innovative ways technology can digitalise and optimise these processes.
The challenges in property management supply chains
Effective supply chain management is crucial in the property management industry, yet it comes with numerous challenges.
1. Fragmented supply chains
Property management often involves multiple vendors and contractors, leading to fragmented supply chains that are hard to monitor and control.
2. Inefficient communication
Delays and misunderstandings are common due to poor communication channels between property managers and contractors.
3. Quality assurance
Ensuring the quality of materials and services can be difficult, particularly when working with numerous vendors.
4. Cost management
Material costs can vary due to market conditions and unexpected fees can arise from administrative costs, compliance fines, or unforeseen changes in the project scope.
5. Regulatory compliance
Keeping up with constantly changing regulations and ensuring all contractors comply can be a daunting task.
6. Timely delivery
Delays in supply delivery can significantly impact project timelines, leading to increased costs and negative impacts on local communities.
7. Data management
Handling and analysing large amounts of data manually is inefficient and prone to errors. The lack of synchronised and high-quality data across disconnected systems results in a loss of transparency and visibility.
Without an audit trail, tracking work orders and verifying completion becomes challenging, making it difficult to assess contractor performance and potentially leading to an increase in disrepair claims and financial loss.
Technology solutions for supply chain management
In the evolving landscape of property management, technology plays a crucial role in streamlining operations and enhancing efficiency within the supply chain. Here’s how.
Cloud-Based Platforms
Cloud-based platforms centralise project data, fostering real-time collaboration and transparency among stakeholders. Features like task management and automated notifications improve efficiency in supply chain operations.
Artificial Intelligence and Machine Learning
AI and machine learning predict demand, optimise inventory, and identify cost-effective suppliers, streamlining processes and enhancing operational efficiency.
Blockchain Technology
Blockchain ensures transparency and trust by providing secure transaction records and automating contract execution. It tracks materials, verifies certifications, and ensures regulatory compliance.
Robotic Process Automation (RPA)
RPA automates repetitive tasks, improving accuracy and efficiency in tasks such as invoice processing and compliance reporting. It integrates seamlessly with existing systems, driving operational efficiency within property management.
Plentific Supply Chain Solutions: the future of property management
Plentific addresses these challenges and incorporates technology into one comprehensive end-to-end solution, using an innovative approach to contractor management, tailored to meet the unique needs of property managers while optimising the supply chain.
Integrated with Plentific’s Contractor Marketplace technology, Plentific Supply Chain Solutions offer tailored contractor sourcing with bespoke SLAs, carefully matching the most skilled pre-vetted vendors to the project, to ensure delivery at the highest standard.
"Plentific has been our saviour when it comes to damp and mould. When we approached Plentific about helping us with our backlog, they were able to quickly mobilise a team of contractors to work on the project in a very short space of time."
Property Manager, UK Social Housing Provider
Say goodbye to hindered transparency, administrative burdens, and sourcing complexities.
Get in touch to learn more about how Plentific Bespoke Sourcing can transform your property operations.
