The entire country has been experiencing unprecedented industry material shortages over the past two years. Due to this shortage, price volatility has also been plaguing general contractors and industry managers involved in purchasing decisions. Sam Boak says these material shortages are affecting every department here at Boak & Sons.
Over the past decade, the general contracting industry has grown consistently overall. Material and supply chains have vastly expanded and field employee numbers have grown along with it. Even with the COVID-19 pandemic taking hold in the beginning of 2020, many general contractors were able to continue business as “essential” employees and faced minimal interruptions. In fact, with so many homeowners confined to their homes during mandated stay-at-home orders, home improvement projects skyrocketed. However, material inventory significantly depleted.
The demand for materials decreased due to contractors placing minimal orders to build their inventories. 2020 lead to vast uncertainty in the industry, so manufacturers reduced their production during their slower months. However, low interest rates and stimulus funding motivated customers to invest in general contracting projects and the start of 2021 was met with high demand and low inventory. On top of industry material shortages, companies are facing price increases with seldom advance warning.
“Right now, the best thing a homeowner or business owner can do is plan ahead,” said Boak. “Get your projects scheduled now and be prepared for the material delays and pricing issues. Make sure you choose a contractor that is reputable and trustworthy and keeps you informed of any changes in your material availability. At Boak & Sons, we’re working with our material manufacturers to continue providing quality roofing, siding, insulation and architectural metals and making sure to clearly communicate any delays with out customers. We believe in creating that trusting relationship with our customers, and one of our rules is to never ever, EVER cut a corner.”
There are many contributing factors to these industry material shortages. February of 2021 brought record low temperatures to Gulf Coast states, interrupting production of critical supplies in chemicals and adhesives used in the construction industry such as methylene diphenyl diisocyanato, which is used in the manufacturing of rigid board and spray polyurethane foam insulation, and other roofing adhesives; all of which are common products used by many exterior contracting and construction companies.
We’ve combatted delays and cost influx by planning ahead and stocking up on crucial inventory. We have a plethora of supplies at our warehouse in Youngstown, Ohio to help reduce the likelihood of a job being delayed.
To learn more about Boak & Sons, Inc. and our services, visit www.boakandsons.com or call 330-793-5646.
