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How to Shrink Duplicated Costs in Your Bottom Line

Image Text: How to Shrink Duplicated Costs in Your Bottom Line - shows ruler, coins, and a calculator on top of paper with calculations

There’s nothing worse than throwing away money.  This is especially true when you’re working on a tight deadline with a limited budget. If you work in construction or engineering, then you know that it is all too common for miscommunications and misdirected efforts to result in redundant work and wasted time. But where are the points where duplicated costs hurt you the most?  

Often duplicated costs come from improper planning and confusion between two separate entities. This post will go over a few ways you can cut duplicated costs and pad your bottom line.  

Cut Duplicated Costs in Construction and Fabrication 

Nothing is worse than planning out a clean and concise budget, then watching as it is ruined by duplicated costs.  

Below we will detail where duplicated costs are highest and how to save your money.  

Design and Redesign 

Screenshot of shop drawing for pre-engineered pipe guards. Pre-drawn and pre-engineered components can save money by eliminating duplicated costs

You know what part you need. You have your designer make a mock-up to your desired specifications. You send it out to have it fabricated, then your fabrication partner redesigns the same part in their internal team before fabrication. Finally, the product is shipped to you and the cost is almost twice what it should be.  

What went wrong here? 

Your part should have been pre-specified. Pre-speced parts are already designed and the blueprints are already made. You don’t need a team of designers and engineers to work to tell you what the part will look like, you will already know.  

If you know what part you want, do yourself (and your budget) a favor and order it pre-speced. 

Manage Your Materials Efficiently 

There’s nothing more frustrating than watching waste pile up. Towering piles of wasted materials mean you are throwing money in the trash.  

Reducing material waste brings down your overhead, thus cushioning your bottom line. This goes well with selected pre-speced products as you will not have to do any on-site construction.  

Construction project management software is another option to help reduce waste. CMS helps manage every facet of your project, including how materials are purchased and used. If there are any last-minute changes on your project, CMS can easily communicate those changes with your team, saving time and money.  

Watch out for Money Leaks 

Review your budget every month. Check for reoccurring expenses that you could do without. These include redundancies, overorders, and more.  

Seasonal swings can be another great way to eliminate costs. As your busy season winds down, take a hard look at your budget to see what you can eliminate. Reducing your number of workers, or advertising budget can help you save funds for next year’s budget.  

D5 Engineered Products Helps You Save Money 

There are many different ways to reduce your budget and boost your profits. But some ways are more efficient and more responsible than others.  

You never want to sacrifice safety or experience just to save a few bucks.  

The best way? Get your parts pre-specified with D5 Engineered Products.  

At D5 Engineered Products we do the design and construction for you, so you never have to worry about redundant designs, building parts on-site, or wasted materials for simple parts.  

We do the hard work for you, so you can have peace of mind and get back to the building.  

Reach out to D5 Engineered Products to learn more!