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goodneighbors's avatar
goodneighbors
New Member
1 day ago

Best ways to track material costs?

Tracking material costs in the electrical contracting industry is critical because supply prices (wire, conduit, breakers, panels, etc.) fluctuate frequently due to market demand, copper prices, and supply chain changes. A strong system protects profit margins, improves estimating accuracy, and helps maintain consistent pricing for customers. How does your company keep track? 

1 Reply

  • We are an electrical contracting company in Washington State.  I have put in all of our materials and put them in as I go when new things come up.  For wire our supplier sends us new prices as they change so that I can adjust them in our system and keep track of them.  We do a lot of time and material jobs that helps us keep our bids from being to high or low based on material cost as I can see what jobs are actually costing.