Construction startup Matrak has released a report which highlights the power and potential of a collaborative supply chain for the construction industry.
Data included in the report was calculated from more than 200 projects and 681,228 tracked materials.
Brothers and co-founders Shane and Brett Hodgkins said the annual report is not only a way to share their data insights, but help others envision what a smarter construction industry can look like when reaping the benefits of supply chain transparency.
After working with their father’s facade company and realising there were huge benefits for making data informed decisions in real time, the brothers created Matrak — a cloud based platform that connects global supply chains, improves material visibility and drives team efficiencies for those working in construction. Multiplex, Probuild, Lendlease, Hickory, ICON, SRG Global, Worldwide Logistics and Colab are some of the many clients at Matrak.
“For the last 7 years, my brother Brett and I have worked on building transparency across the construction supply chain in a way that benefits everyone in a project,” Shane said.
“We have validated first hand, through data backed insights, that collaboration over siloed working is what enables the whole industry to thrive.”
Brett said that’s why we created this industry report.
“By bringing the industry together through the common denominator of materials and sharing our insights, we can build not just better individual projects for Matrak customers, but a better construction industry for everyone in it,” he said.
From projects averaging 121 defects to how materials alone account for 50-60 per cent of an entire construction project’s cost, the annual report dives headfirst into the global construction industry — uncovering the good, the bad and the ugly.
Some observations include:
- With a total of $161,159,600,000 worth of Australian construction project budgets approved in FY21, an estimated $80,579,800,000 of that will be spent on the materials themselves
- Using a material tracking system can save 980 material reorders per project on average
- three per cent of global CO2 and GHG (greenhouse gas emissions) are caused by ships transporting materials, emitting approximately one billion tonnes of CO2 and GHGs per year on average
- Average defect rates per project 1.54% for projects running on Matrak
- Around 94 hours being spent filling out paperwork per trade, which could easily be digitised
With new projects and innovations being planned for 2022, Matrak shows no signs of stopping any time soon. The State of Construction Industry Report is the first of many new initiatives by the business to support the construction sector.
To read the report, click here