How to Manage Materials & Supplies Risks and Protect Your Profit

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ℹ ABOUT THIS EPISODE

Protect your construction business from materials and supply chain disasters that can tank profitable jobs. Wade and Stephen share proven strategies to manage vendor relationships, negotiate stronger contracts, handle overseas orders, and avoid costly delays.

Learn when to require supply bonds, how to document everything properly, and what to do when suppliers threaten bond claims. Essential tactics every contractor needs to safeguard cash flow and maintain project schedules.

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⌚️ Key mistakes we cover in this episode:

• 00:19 The Challenges of Sourcing Materials
• 01:47 Impact of Market Changes on Construction
• 03:00 Vendor Relationships and Risk Management
• 05:18 Best Practices for Managing Supply Risks
• 06:31 Handling Supply Chain Issues and Legalities
• 10:17 Proactive Measures and Documentation
• 17:09 Dealing with Payment Bond Claims

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Wade Carpenter, CPA, CGMA | CarpenterCPAs.com
Stephen Brown, Bonding Expert | SuretyAnswers.com