Stored materials refer to construction supplies purchased but not yet installed. These materials may be kept on-site or in a warehouse.
Why Stored Materials Matter
- Helps secure materials before price increases.
- Ensures timely availability to prevent project delays.
- Can be included in Progress Billing for reimbursement.
Managing Stored Materials Effectively
- Implement inventory tracking to prevent loss or damage.
- Document material storage for Client approval and billing.
- Ensure proper security to avoid theft or deterioration.
Related Terms: Material Escalation, Supply Chain Management, Purchase Order (PO)
FAQs
Can stored materials be billed to the client?
A: Yes, if properly documented and included in contract terms.