Supply Chain Management Strategies in the Construction Industry under the New Normal: Addressing Volatility of Material Prices and Labor Shortages
Keywords:
Supply Chain, Volatility of Material Prices, Labor Shortages, New Normal, Risk ManagemetAbstract
This academic article aims to present strategies for managing supply chains in the construction industry under the New Normal context, particularly in addressing the volatility of construction material prices and labor shortages, which are significant challenges for Thailand's construction industry today. The study reviews relevant literature and research, finding that effective strategies for managing supply chains in the New Normal include:
1) Utilizing digital technology and platforms to manage supply chains, 2) Planning backup materials and diverse procurement sources, 3) Building collaboration among stakeholders in the supply chain, 4) Developing workforce skills and using labor-substituting technology
and 5) Adjusting contract models and risk management. These findings are beneficial to entrepreneurs in reducing costs and improving management efficiency, to academics in further developing related research, and to policymakers in formulating supportive frameworks for sustainable industrial development. Therefore, this article proposes a conceptual framework for integrating these strategies to enhance the resilience and adaptability of Thailand’s construction supply chain in the New Normal era.
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