"Collaborative working" in the construction industry could see companies make the most of opportunities within their wider supply chain, such as concrete tool hire, to deliver projects they might otherwise not be able to complete.

Industry standards organisation Constructing Excellence reports on discussions that took place recently at the Herts & Beds Constructing Excellence Club.

Experts debated whether collaborative working - potentially with open-book accounting and cost-reducing objectives - can constitute the best approach for construction firms.

Don Ward, Constructing Excellence chief executive, said: "For the last ten years, the industry has been going in the right direction with collaborative working - and we are achieving some good results."

Meanwhile, accredited procurement was also mooted as a means of improving the quality of service delivered to local authorities when they commission work.

Concrete tool hire could be a good way for firms to reduce their cost exposure to purchasing new equipment, with National Statistics figures showing the price of labour and plant has risen by around 120 per cent since 1995.

Posted by Jude Whitehouse