Like any other industry, the construction sector is highly susceptible to the volatility of the stock market. Price movements that impact the production costs of materials can have a butterfly effect on wider development projects and building contracts. The movement of oil prices and energy cost all impact the manufacturing output of many common building materials such as steel, cement, bitumen and glass. Now that we have a clearer picture of the pandemics overall impact it is easy to identify where some of the financial burdens originate. Supply chains are now under great pressure to deliver materials across the globe, and with shortages in key elements such as timber, prices are inflating. In this post we will identify how businesses reduce the risk of financial loss in the face of changing market conditions. What is Financial Hedging? In simple terms, financial hedging is an investment practice that can offer protection on riskier trades and situations. For example, a company may be in the market to acquire a certain amount of steel. This company can create a hedge contract that stipulates the price of steel for a set amount of time. If the market value of steel changes, the company will still pay the contractual price for the same material. Businesses and investors who trade futures in UK markets often rely on hedge bets to ensure they have a clear and transparent financial investment, regardless of market conditions. Hedging can be categorised into long and short contracts. Longer contracts protect against volatile price changes for an investor during the term of their contract. However, there is greater risk in long hedges that could see the market price of a material drop considerably. In this scenario, the business would still have to pay the contract amount, causing a financial loss. Short hedges are simply a shorter contract and offer much more flexibility and the potential to reduce losses. Risk Management in Construction Finance Financial loss is a huge consideration when running a time sensitive project and so understanding marketing conditions can be a crucial step. Ensuring a project has a dedicated construction finance manger can help mitigate the risks in construction. Not only this, a CFM should make proper use of an operational budget, predict profitability, employ and maintain compliance, and anticipate any future financial needs. Having the foresight to plan out and predict future financial commitments will enable a construction project to run smoothly over the projected timeframe. Relating this back to financial hedging, having a dedicated CFM could provide an opportunity to plan out any financial losses caused by stock market movements, socioeconomic events and impacts to material prices. Determining costs early on within a project will enable a more balanced approach to the overall financial targets and will stabilize the risk factor. Due to so many uncertainties brought on by the pandemic, hedging can be a reliable way for managing costs for the construction industry.

Technology is evolving at an incredible pace, with extraordinary new innovations and developments occurring all the time and improving the operations of businesses across many different industries, and one of the most amazing innovations of recent years is the evolution of 3D design and modeling. With the help of 3D modeling and prototyping, it’s possible for engineers, manufacturers, designers, architects, and other professionals across many sectors and spheres to create realistic digital representations of their ideas and creations, being able to test, refine, and enhance those designs on the fly. The advent of 3D modeling is simplifying so much of the engineering and manufacturing world, changing the game entirely for countless companies, helping to save time and money, while also opening new doors of opportunity for businesses worldwide. Here are some of the best benefits. Efficiency The first and perhaps most obvious advantage of using CAD design when compared to more traditional methods of product and part development is quite simply the fact that it is immeasurably more efficient overall. It’s much easier, simpler, and more convenient to create digital representations of ideas and products via the help of CAD software and then to make changes and alterations to those products in the digital space than it would be to actually make a prototype and create lots of different sketches and blueprints of the same product. Speed and Convenience Following on from the previous point, it’s also important to note that 3D modeling and design offer incredible speed and convenience benefits too, helping products and parts get to market a lot faster and helping companies keep up with the rapid rate of competition in their respective sectors. This is so important in the engineering and manufacturing industries, where time is always of the essence and it can be so vital to get products produced, sold, and shipped out to buyers as quickly as possible. Saving Money Another big way in which 3D design and modeling can be of assistance to engineering and manufacturing professionals is by helping them save money. The money that is saved can then be reinvested into other parts of the product development process or other aspects of the business entirely, like marketing and branding. CAD software helps to save money in several ways. First, it reduces the risk of any errors in the design process that could lead to faulty or unusable parts and products. Secondly, it reduces the need for prototypes and physical models of products, allowing for changes and improvements to be made in seconds, rather than hours. Avoiding Mistakes One of the best benefits of making use of 3D design and modeling is to help make designs as perfect and flawless as they can possibly be, without any costly mistakes or little issues that could cause big expenses and inconvenience later on. It’s very common for small and simple mistakes to be made when parts or products are first being developed, but 3D modeling lets you test and inspects your creations on a deeper and finer level than ever before, identifying any errors or areas of weakness and addressing them right away, without the need for several stages of prototypes. Happier Clients and Customers Another huge benefit of making the most of 3D CAD software is how it can help to satisfy a company’s clients or customers, helping to win quotes, get more jobs, build your business’ profile, and strengthen your standing in the industry. Clients and customers can benefit in a lot of different ways from this technology. Firstly, they’ll enjoy seeing 3D model representations of the parts or products they’re interested in ordering, and 3D design makes it easy for them to request changes and customization too. Fine-Tuning Designs and Ideas Yet another of the many advantages of using 3D design and modeling software and programs like Solidworks is the fact that they can help you to truly fine-tune and perfect your ideas in ways you might never have been able to do without this sort of technological aid. Many companies have good ideas, but turning a good idea into a great idea can be a challenge. The 3D design makes this process a lot easier, as it allows you to put your ideas out there into the digital space and then test them, inspect them, analyze them, and improve them. Final Word It’s clear to see that 3D modeling programs have a lot to offer for the engineering and manufacturing industries in particular, and any company wanting to get ahead of the competition should strongly consider a serious investment in this sort of software.

There are all kinds of industries that use electrical equipment. Shipping and the music industry are a couple of examples, but there are many more. That electrical equipment has to work exactly as it’s supposed to, or significant problems can arise. Any industry that uses electronics needs to watch out for any damage to those components. That damage can come in different ways, but any situation where water comes into contact with electrical equipment is particularly troubling. In this article, we’ll explain why. Water Damage Restoration Before we explain why electrical component water damage can be so devastating, you should understand that there are sometimes steps you might take to fix these problems when they come up. Just because there’s water damage, that doesn’t necessarily mean you have to discard those components completely. Some companies offer water damage restoration techniques, and you can at least contact them so they can have a look at the situation. The rapidity with which you contact these services can often make all the difference. If you can reach out to one of these companies within a day or so after the water’s original contact, they might be able to save the equipment. Water is conductive, though, so you should be very careful as you begin to examine it. Someone electrocuting themselves is the last thing you want. A professional examining that equipment can reveal whether conductivity is still possible. The Corrosion Factor You probably think about electrocution risks when someone brings up water damaging electrical components, and with good reason. If someone electrocutes themselves, they can suffer serious injuries or even die. Also, if something like that happens, you can be sure that OSHA will visit you sooner rather than later to make sure your company didn’t violate any established protocols. Corrosion is also a pressing issue in these situations, though. There are metal components wherever you find electronics, and when water contacts metal, it quickly starts to corrode. That can happen if you leave musical equipment out in the rain, for instance, or if you leave electrical components in a tsunami’s path. The ions you find in water speed up the corrosion process. It might surprise you how much damage just a few moments of contact can do. If the ion content is higher, that will speed up the process. Unless you’re an expert, you won’t know how high the water’s ion content is. However, the corrosion’s speed will be a big hint. The Water’s Impurities The water’s impurities are another factor when they contact electronics. It’s not as though you have purified water in these situations like you’d get out of a Brita pitcher. If it’s rainwater, ocean water, or sewer water that’s flooding your electronics, there are all kinds of impurities present. The water washes over the contact points within your electronics. When that happens, you get corrosion, but you can also get some other unexpected reactions depending on what’s in that water. It’s unrealistic to expect that the electronics are going to respond as they did before their submersion, even if they dry off by the time you get to them and they appear more or less undamaged. You might have a situation where the electronics continue to function even after they came in brief contact with unpurified water. That’s probably not going to last, though. Even if you’re lucky enough that they continue functioning, the water will frequently shorten their usable life by quite a bit. What Should You Do if Water Contacts Your Electronics? As we mentioned, companies can save or refurbish your electronics if water contacts them. You can reach out to these entities, but you’ll want to do so immediately after discovering the issue. The longer you choose to wait, the less likely they can swoop in to save the day. Before you call them, though, it’s best to disconnect the electronics if you can. If you attempt to do so, wear gloves so as to avoid electrocution. If you don’t feel comfortable disconnecting the equipment, you can leave that up to the professionals. If purified water touches your electronics, it’s more probable you can save them since that water does not have as many potentially corrosive elements. It’s hardly likely that a flood of purified water is going to wash over your electronics, though, which is why these salvage companies exist. The takeaway from this is that water can damage electronics, but it’s sometimes possible to save them.

Climate change isn’t recent news, but it’s become one of the major concerns in the last few years. This is because the impact of climate change is more apparent than ever, with 2020 named the hottest year on record and grim predictions about what will happen in the coming decades unless action is taken now. With activists such as Greta Thunberg and Sir David Attenborough using their platforms to make us more aware of how our actions are affecting the planet, more innovations and ideas are being formulated to try to stop – and hopefully reverse – the damage that’s been done. As such, consumers have been vocalising their concerns and businesses have been responding. Huge organisations have been asked to take responsibility for their role in climate change, and one way that they’re looking to redress the balance is by looking into the benefits of green construction. Basing their headquarters in more environmentally friendly buildings can be a game changer for leading corporations. But what is green construction? What are the implications for construction companies? And is it the solution businesses hope it will be? What is green construction? Green construction takes green building to the next level. Green building is a building that’s created, constructed, and run in a way that uses less resources, which, in turn has less impact on the environment. It has efficient water lighting and water systems in place and is built from sustainable materials. It also keeps the people working in the building healthy and productive, and costs less to maintain – both significant plus-points for businesses.  However, while green building is moving things in the right direction, in terms of addressing climate change and the detrimental fallout of how rapidly temperatures are rising, green construction is likely to have a more lasting, holistic effect. This type of construction sees beyond a single green building and ensures that every element of the building process is done in a sustainable way, taking in not just the materials used, but the environment the building is sitting in. It’s construction that considers how to remain green at every stage, from ensuring eco-friendly materials are used and considering the type of fuel that operates the machinery used in the construction process, to sourcing non-toxic materials and using environmentally aware disposal methods. Green construction: the pros One of the most important advantages of green construction is that, as more companies introduced this type of construction, it can have a positive effect on the climate and the natural environment. Green buildings created through green construction methods can, by using less water, energy or natural resources, reduce the negative impacts on the environment. They can also, in the long run, generate their own energy or increase biodiversity.    Green construction: the cons There are some things to consider when it comes to green construction, however. First, we need to question the materials used. While sourcing sustainable, eco-friendly building materials is key to this construction process, if they aren’t durable or are prone to damp or other concerns, their sustainable credentials diminish as they need to be maintained or totally replaced. Also, as this a relatively new process, there may be legal issues to consider. While green construction is likely to be something we see more and more of in the coming years, for now there are still questions about the legality of using the methods used. Policies, codes, and other rules are being reviewed and revised to ensure these buildings are safe just as much as they are green, and green construction businesses must be aware of these in order to avoid lawsuits. Things to consider For construction businesses that are making the move towards green construction methods, it’s worth taking the time to do the research int every element of the construction process. Are the materials sustainable and durable enough to withstand the British weather fronts? Are you up to speed on all the rules and regulations in place? Additionally, do you have insurance? Construction insurance is a significant form of protection that will cover you if things don’t go to plan. As a construction company, doing your research and asking questions means you could find that green construction is something that you could move towards.