Going Digital in the construction industry to reap $1.6 trillion in potential savings

An article in Fortune (October 2018) titled “Building with Bits and Bytes” reports that the construction industry is replacing paper with digital drawings, enabling collaboration with architects and reducing the 33 percent reported waste, totaling $1.6 trillion. The construction industry’s productivity improvement is estimated as 1 percent, vs 2.8 percent for the overall economy. Will competition across builders mean lower construction costs as a result of digitization? Will maintenance costs decrease as a result of better designs? Will construction firms devise their own proprietary software to optimize designs and construction costs?

About aviyer2010

Professor
This entry was posted in Capacity, competitiveness, Cost, delivery, logistics, Operations Management, technology, waste and tagged , , , , . Bookmark the permalink.

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