As we end an intense and relatively bizarre 2021, many are optimistic that 2022 will bring stability and predictability in the building materials sector. This perspective may be shared by many, but the best purchasers in the business will be dedicating a lot of time and resources to planning for future needs and keeping their supply chains full this year.
Much like business operators and purchasing managers, homeowners will need to prepare to spend time planning, forecasting, and creating contingency solutions for any home builds or renovations this year. Many building material products appear to be softening in price. Still, the ongoing imbalance of supply and demand, along with labor shortages, have created many unique circumstances that may challenge the availability of these products throughout the year. Shipping and cargo transportation are also experiencing unprecedented delays that only add to the complexities of the supply chain. While I believe 2022 will be a fruitful and prosperous year, I also realize not everyone lives and breathes purchasing strategies, so I will share the top three strategies I leverage every day to create the most competitive and predictable buying experience. These strategies apply to most products, but our focus will be on Steel Roofing and Steel Siding purchases. #1 - Buy It If You Need It I have a practical philosophy for purchasing; if you need it, buy it. Many homeowners have put building projects on hold, waiting for price relief. This decision may have been wise in January 2021, but it has been over a year now, and the project still has not been completed. Odds are you started preparing for this project because it needed to be done. The work was essential. How much longer can you delay a crucial need? How much price relief is required before you are willing to purchase the products? What if pricing never reaches those levels? Can you delay the project indefinitely? Metal Roofing and Siding products, including steel coils, are available now, and your project can be started as early as tomorrow. Steel pricing is softening, but as mills and coil brokers look to minimize their inventory during this decent, coil availability could be compromised. So if you need a metal roof or steel siding, buy it now. #2 - Choose Quality and Value Over Price High costs of building materials have created budgetary problems for many homeowners and contractors. Unfortunately, the temptation to purchase lower-quality materials for the sake of keeping the project moving forward at budget is a reality for many. Nevertheless, we must consider the actual cost of inferior products. Inferior products are often available in a strained market because they don't meet the needs of their industry. If someone else chooses not to purchase a product for their project, you should consider doing the same. Inferior products create long-term and ongoing problems that will cost much more money and resources down the road.
A non-warranty roofing system may save you 10% on the total project, but will you be happy when your red roof turns pink in a couple of years? Buy the right product, and the overall value will leave you satisfied with your purchase, even if you need to extend your budget. #3 - Choose the Best Supplier (Local if Possible) Like choosing products that offer the greatest value, you should partner with the best suppliers who will meet your needs. Great suppliers will; create product and service confidence, clearly communicate all parts of the purchasing process, and quickly address any issues that may arise. I recommend finding a local partner whenever possible. The face-to-face exchange helps solidify the supplier's strengths (or weaknesses) and allows you to make a more confident decision. At Best Buy Metals, our passion is to provide unmatched customer service and quality metal roofing and siding products. We exercise these three purchasing strategies to maintain our supply chain and keep products available when customers need them. These purchasing strategies have helped our company offer a unique and predictable customer experience. I hope they will be helpful tools as you consider purchasing products for your home projects this year.