Innovative approaches to B2B Supply Chain and materials with Kathyrn Theile, founder of Buildstock

Many builders, contractors, and subcontractors face challenges with construction material procurement. Price increases and supply chain delays have become more common, leading to budget overruns and project delays. These issues can significantly impact project timelines and profitability, making efficient procurement strategies and contingency planning essential.

Kathryn Thiele is the founder and CEO of Buildstock, a venture-backed construction marketplace revolutionizing how builders source materials. With over a decade of experience managing billion-dollar high-rise projects, she saw firsthand the inefficiencies of the construction supply chain. Kathryn’s unparalleled industry expertise and passion for problem-solving is transforming an antiquated industry for the digital age. Today, she discusses her background in construction, how Buildstock is using an online marketplace and Fintech to streamline the industry, and opportunities for technology like AI. Tune in to find out more!

Quotes:

1. “Cold calling is dead. You need to get out there and, just like in those books, you have to get in front of your customers.’”
2. “When it comes down to the numbers and the money, that’s really what talks at the end of the day.”
3. “AI has only been around for a few months, and what it’s done already has been absolutely incredible.”

Takeaways:

• Evaluate your supply chain and identify opportunities to streamline processes and remove unnecessary middlemen to reduce costs.
• Consider how emerging technologies like AI could help automate tasks and create efficiencies in your industry. Look for partners to pilot new solutions.
• Get out in the field and talk directly with customers to understand pain points, gather feedback, and build relationships. Office meetings and cold calls often don’t cut it for relationship-driven industries.
• Ask suppliers about their payment terms and incentives. Could you help improve their cash flow to gain better pricing and service?
• Calculate potential savings from cost reductions and use those numbers to gain support for new initiatives or funding opportunities. “I can save you money” is a powerful value proposition.

Conclusion:

Regularly evaluating your supply chain, utilizing AI, and improving cash flow are crucial strategies for business success. These actions help streamline operations, enhance efficiency, and ensure financial stability. Prioritizing these areas can lead to significant growth and sustainability.

Links Mentioned: 

Guest Links: 

LinkedIn: https://www.linkedin.com/in/kathrynthiele

Website: https://www.buildstock.com

Email: kathryn@buildstock.com

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