Forecasting of Material Cost in Road Construction Through Material Control Techniques

In a construction project, materials account for more than 40% of the total project cost. A small saving in material cost through efficient control of materials can result to a large saving in the total project cost. Most organizations face challenges of overstocking of materials, duplication, and resource wastage. The difficulty is to acquire approaches that would enable minimization of such wastages and losses to improve on materials control performance. The objective of this study is to find the benefits of the material control techniques by improving quality and minimization of cost on effective material variety. The material data’s are collected from various sites which is then quantified, measured and analyze through material control techniques thereby constraints of material productivity can be found out. For this purpose material requirement planning techniques such as DOQ, EOQ and PPB methods are used. Then it is compared with conventional method. The study helps in reducing total material cost and there by reduction of total project cost.