Go lean to grow big
ECONOMY & POLICY

Go lean to grow big

Construction having a major impact on civic life has only been minimally digitized. As per a recent study published by McKinsey, the construction industry ranks the second least in terms of digitization, after agriculture. “Tactive is a construction ERP software that is built from the ground ...

Construction having a major impact on civic life has only been minimally digitized. As per a recent study published by McKinsey, the construction industry ranks the second least in terms of digitization, after agriculture. “Tactive is a construction ERP software that is built from the ground up using real-time experience in construction and infrastructure activities that offers a suite of construction software products that directly addresses the prominent “hard to ignore” pain points faced in the company by every individual office-bearer right from the CEO to the site or field engineer,” says Devarajan Chinnusamy, Chairman & Managing Director, Tactive Software System, as he shares more…Managing 5 M’s and enhancing communicationTactive as a construction ERP seeks to streamline all the operations of a construction company and manage all the 5 M’s of construction; Man, Material, Machinery, Money, and Minutes and utilise or channelise them properly and eliminates wastage, pilferage, duplication of work and overlapping of decisions, etc. Tactive very precisely enhances the communication between site to regional and head offices and this has helped people to overcome the fear of ERP or other such software adoptions. The Tactive Construction Management Software provides the best comprehensive SOP (Standard Operating Procedure) in a digitized form to help construction companies grow and scale up their project sizes. Equipped with the latest technologiesTactive is a cloud and mobile-based product using the latest technologies and the domain expertise gathered over the last six decades from the parent entity operating in the infrastructure sector. Tactive has employed principles of lean construction in the product as well. Tactive has been separated into modules such as tendering and estimation, budgeting and scheduling, project management, procurement management, inventory management, equipment management, finance and accounts, HR and payroll, health safety and quality with a roadmap for PMC, MEP, BIM and IoT integration. TactiveSoft Construction ERP is custom made for builders, contractors and construction companies and can be customised as per the individual needs of the project managers. Key Features: Monthly job cost reports and project-wise zero-based budgets, schedules and actuals Tender bids using inbuilt rate-analysis templates through BOQ imports Client bills, subcontractor work orders, payments and material reconciliations Capture hindrances, work order amendments and billings Project wise client receivables, vendor payable, cash flow and overhead projections Centralised procurement, vendor portal, yard or warehouse operationsMachinery and equipment usage logs, maintenance and internal or external hires Tactive construction mobile app enables the following for project sites (android and ios) DPR, DLR and labour out-turn entry and tracking in Tactive construction mobile appProject wise reports and dashboards Employee self-serve HR apps, approval requests, tasks and messages Padma Bhushan Dr A RamaKrishna (Former DMD of L&T) helped form Tactive’s product in the early stages by providing his expertise. The product has only been a huge success and keeps exceeding its real-time performance expectations of its users across India and the Middle East. Tactive now has at its disposal a committed, and highly experienced team of people on standby to support the clients in the implementation of Tactive and oversee the operational activities without a hassle. (Communication by the management of the company)

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Resources

IRB Infrastructure Trust to offer 5 of its matured Highway Assets

IRB Infrastructure Trust, the Private InvIT, an associate of IRB Infrastructure Developers, India’s leading multinational transport infrastructure developer in the roads and highways sector, has announced a non-binding offer to transfer five matured highway assets to the IRB InvIT Fund, a publicly listed InvIT platform. The proposed transfer is subject to, amongst others, execution of definitive documents and the receipt of necessary approvals.Commenting on the development, Virendra Mhaiskar, Chairman and Managing Director of the Sponsors, said, “This transfer is a key step in our bid, exe..

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Infrastructure Urban

US oil industry urges Trump to ditch Biden climate policies

The U.S. oil and gas industry called on President-elect Donald Trump to scrap many of President Joe Biden's policies aimed at fighting climate change, saying the measures threaten jobs, consumer choice and energy security. The American Petroleum Institute (API), the nation's top oil and gas trade group, urged Trump's incoming administration to do away with vehicle emissions standards meant to move the auto industry to produce more electric vehicles, lift a pause on export permits for liquefied natural gas facilities and work with Congress to repeal a fee on methane emissions from drilling oper..

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Infrastructure Energy

Oil trims losses on tight near-term supply

Oil prices edged up on signs of near-term supply tightness but remained near their lowest in two weeks a day after OPEC downgraded its forecast for global oil demand growth in 2024 and 2025.Brent futures rose 13 cents or 0.18% to $72.02 a barrel by 0205 GMT, and U.S. West Texas Intermediate (WTI) crude futures gained 13 cents, or 0.19 % , to $68.25. "Crude oil prices edged higher as tightness in the physical market offset bearish sentiment on demand. Buyers in the physical market have been particularly active, with any available cargoes being snapped up quickly," ANZ analysts said in a note. B..

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