Bisnow - UK Life Sciences Annual Conference 2023 brought together top executives from across the industry. They shared their expertise on the current market and discussed innovative strategies for overcoming current challenges. At fu3e. we have compiled key learnings from the conference.
The key highlights
In the construction and development industry, managing risk and increasing efficiency is critical to staying competitive.
Supply chain uncertainty can cause major headaches for builders and developers, but there are ways to mitigate those risks.
By managing data in one place, it is possible to manage risk and increase efficiency. Let's explore three main headlines that address these key points.
Risk Management and Diversification
The first step in addressing supply chain uncertainty is managing risk. It is crucial to take the uncertainty out of the market and early engagement with the tedious is necessary for supply chain vision and opportunities. Early engagement with operational teams in some early design ethos is necessary. By collaborating with all stakeholders, it is possible to mitigate risks and diversify the supply chain.
Diversity of work on a day-to-day basis of business is also essential for security and there is a need to encourage more people to work in the building industry. Collaboration and partnerships with universities, academia, developers, and local authorities are crucial for building a network of partnerships.
Sustainability and Digitisation
Sustainability requires commitment from the top and a fundamental change in how people think and work. The lack of investment in digitisation has prevented effective data analysis and insights to drive action in the industry.
Local-level efforts are needed to ensure that the story of science is told to local communities and they can see tangible benefits from it. Purposeful journeys and attracting people who want to participate are crucial to the industry's success. To design and build low or zero-carbon buildings, investment in research innovation is necessary, and changing the procurement model is crucial. Investment in the youth program is necessary for the future of the industry. By embracing sustainability and digitisation, it is possible to make the industry more efficient and sustainable.
Collaboration and Sharing Data
It is well known that the built environment contributes to a substantial proportion of emissions in the UK, where buildings are the second-largest source of emissions after transport. Given this significant impact, it is no surprise that the government is introducing measures to limit emissions from the built environment.
Life sciences meet other areas such as materials, quantum computing and AI. The sector needs to see across innovation, not just life sciences. There is still a lack of understanding about how to use the laboratories efficiently, and building new labs before understanding the current usage is not a priority. Collaboration and data sharing across the industry are needed to address labour supply and demand issues.
Funds are pushing for sustainability in construction contracts, and collaboration is becoming more common in contracts. By collaborating and sharing data, it is possible to address supply chain uncertainty and make the industry more efficient.
In conclusion, managing risk, embracing sustainability, digitisation, collaborating and sharing data are crucial steps to address supply chain uncertainty in the construction and development industry.
By using a real estate platform software that aggregates data in one place, it is possible to manage risks and increase efficiency. By partnering with stakeholders, it is possible to mitigate risks and diversify the supply chain. With these steps, the industry can become more efficient, sustainable and successful. #poweredbyfu3e #realestate #bisnow