Supply Chain

Supply Chain

Areas of focus

  • Partnership approach
  • Rigorous subcontractor evaluation process
  • Sustainable offsite manufacturing

Partnership approach

Glenveagh takes a partnership approach with our supply chain by emphasising the ability to provide suppliers with a clear roadmap of annual targets and multi-phase projects. This gives suppliers the confidence and line of sight to allow them to scale their business in a stable and secured way. To mitigate the effect of restricted credit amongst our supplier and subcontractor base, we decided to centrally procure the vast majority of the high-value items required for the construction process such as heat pumps, sanitary ware, insulation and plasterboard so as minimise the administration for sub-contractors. Our ability to bulk buy and enter into long term agreements has multiple benefits:
  • higher quality material at a very competitive price ultimately providing a better product for our clients
  • ability to accurately control material costs for the duration of projects by minimising material inflation
  • assist in streamlining operations for our suppliers by reducing the number of spares they may have to carry and coordinating deliveries ultimately driving better value; and
  • ultimately, we can maintain and manage a sustainable supply chain as we grow.
By centralising our procurement, we get the benefit of a portfolio focused procurement strategy and avoid a silo approach from each site. We can ensure consistency onsite by standardising the products reducing coordination issues and streamlining training requirements. We can coordinate and manage logistics ensuring just in time deliveries and minimise our carbon footprint by mitigating against multiple shipments. Finally, to grow our supplier network and provide local employment where possible, we work with local suppliers. There are many advantages of maintaining a substantial approved supplier base from ensuring healthy competition during our procurement process with a view to minimising cost price inflation to facilitating our scale and having the ability to open multiple sites simultaneously. In addition to ensuring that the best price is achieved Glenveagh also focuses on ensuring the suppliers we partner with are aligned with our values and our sustainability agenda.

Rigorous subcontractor evaluation process

Our substantial approved subcontractor base and the utilisation of our MEAT (Most Economical Advantageous Tender) analysis ensures that we achieve alignment with our values and our sustainability agenda. Utilising our MEAT analysis process, we ensure that we are assessing a range of competencies of suppliers including:
  • health and safety
  • resources and ability to meet program
  • product and materials sourcing
  • quality standards
Our ability to bulk buy and enter into long term agreements has multiple benefits:
  • higher quality material at a very competitive price ultimately providing a better product for our clientsassist in streamlining operations for our suppliers by reducing the number of spares they may have to carry and coordinating deliveries ultimately driving better value; and
  • we can maintain and manage a sustainable supply chain as we grow.
By centralising our procurement, we get the benefit of a portfolio focused procurement strategy and avoid a silo approach from each site. We can coordinate and manage logistics ensuring just in time deliveries and minimise our carbon footprint by mitigating against multiple shipments. Finally, to grow our supplier network and provide local employment where possible, we work with local suppliers.

Sustainable offsite manufacturing

The Group continues to invest in more efficient and cost-effective construction techniques. Early initiatives have included the optimisation of our processes and finished product, in addition to adopting modern building practices, including utilising off site timber-frame and modular manufacturing systems. In order to further enhance the Group's timber-frame construction solutions and guarantee long-term supply, Glenveagh has entered into an exclusive multi-year open book supply agreement with one of its existing timber frame suppliers based in Ireland, Keenan Timber Frame Limited (“KTF”). The factory is operational from Q2 2020 and has the initial capability to deliver approximately 800 timber frame units per annum with the option to expand this capacity in the future with limited investment. This investment will allow the Group to further reduce its carbon footprint in a cost-effective manner, as timber-frame houses make it easier to meet and exceed energy standards whilst producing less material waste during the building process.

Case study – our subcontractor partners

Our multi-phase approach to projects gives sub-contractors the confidence to scale their business as they have line of sight of our annual targets and deliveries. Our centralised procurement approach reduces credit risk and provides security to subcontractors to plan and grow their own businesses. Knowing that Glenveagh has the ability to pay, and pay on time, gives our subcontractors the security to plan and grow their own businesses. This mitigates against subcontractors requiring expensive sources of finance like invoice discounting and helps to ensure that our partners not only meet but exceed our requirements, including Health, Safety, Environment, Program, and Quality. Our subcontractors now understand the Glenveagh Way. These are our standardised processes and procedures that we utilise across our sites, including:
  • site set up
  • health safety and environmental requirements
  • procurement and valuations processes
  • logistics planning and coordination meetings
By ensuring consistency across our sites our expectations and requirements are clearly set out and our required standards achieved. By utilising our value proposition, we have and continue to attract a significant number of competent sub-contractors. In the period from October 2018 to December 2019 alone we have been able to add 191 partners to our tendering process. "When I first started in 2014 it was myself and another engineer so working with Glenveagh the last couple of years has allowed me to grow, has allowed me to employee people. When I'm planning with Glenveagh, I'm planning not just for this year, but next year and the following year and a lot of the projects I would be working on would be three year programmes because there are only so many houses you can deliver in a year on a particular site. So for me there's Safety when I'm talking about employing somebody I say here's the project and this is a three year project so if you stay with me I know we're ok for the next couple of years from a financial point of view." (Paul McGrail – Director, Paul McGrail Consultant Engineers)

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