Renovation Projects Face Serious Supply Chain Management Issues

CHICAGO—Supply-chain management issues have a firm grip on the apartment renovation business as operators and suppliers struggle to deal with item shortages and rising prices. Circumstances and solutions and other trends were discussed Tuesday at National Apartment Association’s Apartmentalize Conference in Chicago.

John Kirchmann, Executive Vice President & Chief Financial Officer at Centerspace, said when development companies begin “hoarding” supplies, the supply shortage only worsens. “But the show must go on,” he said. “We have to be more flexible in terms of brands and colors, and find multiple suppliers to do business with.”