SAILING AMIDST THE STORM
Storms! Storms!! Storms!!!
Everyone experiences storms but in different ways.
All over the world, there’s the common complaint of the economy. Even countries that seem to be doing well are also complaining of a dwindling economy.
Somehow, it feels as though the construction industry is taking the most hit. Out of the blue, the cost of construction is shooting up, soaring above 5%. Not to mention, the materials needed for construction are becoming pricier by the day.
Despite all these challenges, we can’t just throw in the towel on civil construction. After all, we still need to build those structures, right?
So, how do we manage these rising costs at Kagz? Or has the economy not happened to us?
Of course, we also feel the heat of the economy. However, we have put strategies in place to help us weather the storms.
Some of these strategies are highlighted below:
- We Get To Work As Fast As A Deer
Armed with the knowledge of a fluctuating economy, we understand that the costs of materials are never the same on a daily basis. Hence, as soon as we get a project, we get down to meticulous planning. This helps us procure materials right on time before the costs go up again.
- We Engage Effective Bidding Practice
You know, getting the costs wrong, whether it’s overestimating or underestimating, can seriously dent our reputation and prestige. We’re all about making sure that every price we put down in our bid is just right, not a penny more or less than what it should be. It’s all about avoiding any surprises later on, especially when it comes to having to hike up the price. Kagz manages surprises by allocating resources efficiently to manage the cost of construction. We take out time to plan projects, understand the scope of the job, and correctly estimate the required resources such as labor, materials, and equipment. This ensures cost savings and improved work efficiency.
- We Communicate
Effective bidding is important. But beyond the bidding process, proper planning is also crucial. Nobody wants to get caught up with unexpected price hikes, and that’s why we keep our clients in the loop every step of the way. If there are complications causing a delay in the project, we communicate clearly. We do this because we understand that communication is everything. It keeps things transparent and builds trust at every level.
- We Follow Up
As soon as a client declares interest in working with us, we get on it with follow ups. Now, we’re not doing this to overwhelm them or constantly be in their faces. But it’s all about making sure everything moves along smoothly and deals get sealed without any unnecessary delays. Why? Because sorting out these agreements means we can get funds for materials released on time, keeping the project going smoothly without hitches.
- We Incorporate Contingency Measures
Kagz is keen on covering all bases especially when it comes to civil construction planning. This is why we always factor in contingency measures, commonly referred to as miscellaneous expenses. Making excuses about inflation and project delays is not ideal. So, we incorporate a contingency allowance when budgeting. This helps us stay ahead, especially when inflation decides to throw us a curveball halfway through the construction process.
- We Are Vigilant About Market Trends
Kagz Projects Limited is not different from the regular business man out there who keeps tabs on the market. We’re watching even before we land a contract, and we stay watchful all through the execution of the construction. Why? Because we want to stay on top of anything that could jeopardize our budget and plans. Vigilance helps us spot issues early enough so we can nip them in the bud and plan smoothly.
- We Employ Currency Hedging
The rate at which currency exchange rates are fluctuating, it’s crucial to manage its volatility. This is where Kagz employs currency hedging strategies, especially when dealing with imported materials. We can’t ignore these fluctuations because they are capable of negatively impacting the costs of our project execution.
- We Develop Valid Supplier Relationship
Trust is a crucial factor for supplier relationships, especially in times like these. That’s why we ensure we’re building partnerships with people we can rely on to stick to the budget and also supply quality materials. Building relationships like these isn’t only good for business, it is one secret that has helped us thrive over the years. And of course, we also do procurement, so we know better.
- We Employ Supplier Diversity
Kagz Projects Limited doesn’t just stop at building valid relationships with suppliers. We engage in the game of diversity. That’s why we make sure to engage with a whole range of suppliers. This isn’t simply for the purpose of getting competitive prices, it is also about having plenty of options to pick from so that we can always find exactly what we need.
Times might be tough, and it might feel like smooth sailing is unreachable. But you know what? With the right plans in place, you can navigate through anything. Take Kagz, for example – even in the midst of this storm, we’re still sailing strong. You can also sail.