Riyadh Derouiche’s presentation at CTF KSA highlights how digitization is helping reduce risks in construction projects. He explains how using digital technologies is changing how the industry deals with uncertainties. DCHub will explore it in detail in this article.
The Unpredictable Terrain of Supply Risk
Traditional supply chain management can often be unpredictable and challenging. Disruptions such as material shortages, logistical bottlenecks, and unexpected delays have long posed a challenge to project timelines and budgets. Riyadh Derouiche’s presentation underscored the urgency of reimagining supply chain dynamics through digitisation to fortify the industry against these risks.
Data as the North Star
At the heart of Riyadh Derouiche’s insights lies the transformative power of data. In a digitised ecosystem, data isn’t just a byproduct but a strategic asset. Real-time data acquisition and analytics provide stakeholders with a panoramic view of the supply chain landscape, allowing for well-informed decision-making. By leveraging data-driven insights, construction companies can anticipate risks, allocate resources judiciously, and adapt swiftly to changing circumstances.
Outcomes of digitisation
One of the key takeaways from the presentation was the potential of digitisation to orchestrate collaboration across the supply chain. Digital platforms and tools facilitate seamless communication among diverse stakeholders, from suppliers to contractors. This increased transparency fosters a sense of unity, enabling stakeholders to collectively identify potential bottlenecks, brainstorm solutions, and pre-empt risks before they escalate.
Predictive Analytics & its use in Construction
Predictive analytics emerged as a beacon of hope in supply risk mitigation. Construction companies can predict potential disruptions by analysing historical data and discerning patterns. This foresight empowers stakeholders to develop contingency plans, ensuring that projects stay on track despite unforeseen challenges. Riyadh Derouiche’s presentation showcased how this proactive approach can effectively minimise risk exposure.
The Digital Twin is not just about Design
The concept of “digital twins’, the technology that involves creating a digital replica of a physical asset allowing for real-time monitoring and analysis, brings value to supply chain management. It is not a tool just for project design or end-project evaluation. In supply chain management, digital twins enable construction professionals to simulate different scenarios, thereby identifying vulnerabilities and refining strategies before they impact the physical project. This innovative approach bridges the gap between planning and execution, providing an invaluable tool for risk management.
Resilient Future for the Construction Industry
Riyadh Derouiche’s presentation unveiled a promising path forward for the construction industry, offering a profound perspective on how digitisation can effectively mitigate project supply risk. By harnessing the power of data, predictive analytics, collaboration, and cutting-edge technologies like digital twins, the industry is poised to transform its approach to supply chain management. As the construction landscape in Saudi Arabia and beyond embraces these insights, it’s ushering in an era of increased resilience, optimised decision-making, and the ability to navigate the complexities of supply risk with a renewed sense of confidence. With Riyadh Derouiche’s presentation as a guiding light, the construction industry is paving the way for a more secure, efficient, and successful future.
Riyadh Derouiche, Partner, Strategy – PWC Middle East