Mitigate Material Costs using Lean Methods
Owners and developers should leverage Lean construction principles and tactics to achieve greater stability, reliability, efficiency and flexibility.
The U.S. Bureau of Labor statistics reported staggering spikes in construction material prices between May 2020 and May 2021: increases of 146% for refined petroleum products such as diesel fuel and asphalt base, 114% for lumber and wood products, 107% for cold-rolled steel sheets used for metal studs, and 39% for copper wire and cable. In mid-June, lumber futures for July delivery were down 42% from their record high reached in early May.
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