Concentra, a leading analytics firm, successfully won grant funding from Innovate UK to develop a supply chain analytics solution to help the construction industry meet the government’s target of reducing costs by 33% (£45bn) by 2025.
The solution will help securely analyse construction material, equipment and labour supply chains to provide greater visibility and identify areas for improvement in material flows, demand and supply of resources and utilisations over time. Concentra will be building the solution alongside a consortium of construction, supply chain, data and cyber-security experts at WMG, at the University of Warwick and Costain.
As identified in the UK government’s ‘Construction 2025’ report, the UK construction industry will play a key role in driving economic growth. With the global construction market set to expand by 70% by 2025 this solution will be key in helping Britain take advantage of these opportunities.
Andy Birtwistle, Supply Chain Director at Concentra, commented: “There are fundamental weakenesses in the supply chain for construction at present. It is fragmented, transactional and driven by procurement tendering which reduces prices but not necessarily costs. This is a fantastic opportunity to create a new construction model for the UK that promotes an efficient and collaborative supply base.”
Simon Hart, Innovation Programme Leader – Built Environment at Innovate UK added: “The construction industry needs to innovate if it is to meet customer demand for higher performance and to become a dynamic industry. Yet, lack of integration within the supply chain is leading to lost opportunities for innovation. Projects Innovate UK have funded, such as Concentra’s, show great potential in helping the construction industry meet its goals.”
Concentra specialises in developing analytics solutions for high profile companies across private and public industries including consumer, healthcare, pharmaceutical and financial services.