Digital marketplaces in the construction industry

Digital marketplaces have revolutionized industries such as retail, hospitality, finance etc. They have numerous benefits such as:

  • low capital costs as inventory is handled by suppliers;
  • optimised supply chains as they can self-correct supply as demand-increases;
  • reduced errors in constructions, buying or replacing the right products and installing them in the right way
  • increased transparency as buyers can make informed decisions when they evaluate options on performance, cost, and availability.

Today, within the construction sector procurement is a slow, labour-intensive and generally cumbersome process. This is because digital marketplaces are just coming into existence. The emergence of such digital marketplaces creates a huge opportunity for the industry to improve its productivity and…

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