How E-Commerce is Bringing Transparency in Building Materials Supply?

The construction industry contributed approximately 3.4 trillion INR towards GDP in January 2022. Building the infrastructure of India at the moment is very crucial and the construction and building industry is at the forefront of making it a reality. 

It’s a huge dream at the cost of making a logistical cycle regarding building materials easy. However, the industry is unorganized, and the aftermath of the demonetization of currency notes in 2016 in India resulted in a significant decline in the construction industry’s revenue because of the market’s cash problem. The global financial crisis at the same time drove the building curve farther lower, causing government intervention to stabilize the industry.

The building sector was then supported by new fiscal policies developed by the Centre, which led to it developing into a multibillion-dollar industry and playing a significant role in India’s expanding GDP.

By moving the procurement process online and introducing parity and transparency to pricing, OfBusiness has  become a major player in the construction sector. We all know how important it is for Indian construction companies to prevent project cost overruns in order to maintain their financial viability. E-commerce has significantly reduced these cost overruns by getting the materials at the proper pricing.

Why focus e-commerce in building industry?

$1 trillion. 

The market for construction materials worldwide is anticipated to reach that size by 2030. A web-based sales channel can help capture a larger portion of those profits. Bonus: The correct e-commerce solution can also assist you in future disruption adaptation more skilfully.

Since the demand for e-commerce in the construction sector is larger than the average across all industries, up to 84 percent of enterprises in the sector expect selling all of their items online in the future. It could be time to sell your goods online if you haven’t before.

The procurement of materials for building projects is an art that involves strong technical and negotiating abilities and a local geographic understanding, which many construction companies in India find challenging to develop internally. 

This is something that OfBusiness is aware of.

Due to their modest order sizes or the existence of many middlemen in the supply chain, smaller businesses are denied the cost benefits associated with raw material procurement when compared to larger ones. The supply chain for different commodities is also disorganized and fragmented but e-commerce brings transparency in building materials supply. 

Low Prices And Level Playing Fields In The Infrastructure Market

• To assist  building and construction enterprises in obtaining the supplies they need for their projects, a central procurement unit has been established. 
• To increase parity, transparency, and productivity in the construction business, better pricing and credit facilities are needed.

OfBusiness has created a centralized online market for building supplies that provide customers with fair pricing and a superior technological experience. In order to accomplish this, we  aggregate customer requests, match them with its supply chain, offer economies of scale on material price, as well as cheap finance options that were previously unavailable to individual customers.

To get more insight about transparency made possible with OfBusiness, click here:- https://www.ofbusiness.com/