News

Flexible Supply Chain Management Tool LM3 Live launches

LM3 Online has partnered with construction and regeneration company, Morgan Sindall Group to develop an enhanced version of original LM3 Online software. This updated system, called LM3 Live is now available.

The original software measures three rounds of supply chain spending and calculates the economic value of capital spend at the end of a project. There are good reasons for this, but with many organisations now using the system for very large projects, there has been an increasing demand for a version that can work on a live basis, over several years.

It was this requirement which Morgan Sindall Group raised following its initial use of the software. Graham Edgell, director of sustainability and procurement at Morgan Sindall Group explains further: “This is a major development for the industry in developing responsible and inclusive supply chain relationships. Morgan Sindall Group is pleased to have been instrumental in the development of this innovation and in making it available to the wider industry.”

Louise Townsend, sustainable business director at Morgan Sindall, said, “We are intent on monitoring and improving the economic impact performance throughout the lifetime of our projects to ensure that we are creating maximum economic and social benefit for our customers and the communities in which we work. LM3 Live provides us with this information – meaning that we, and our customers, have immediate and accurate data at all stages of our projects – from procurement through to completion. This allows our customers to make a fully informed decision on a project’s design and development.”

LM3 Live includes a new project dashboard that details all of the required information at a glance. The live module allows you to enter budget, other costs, and suppliers at the very start of the project. Over the lifetime of the project you can change anything at any time, all to ensure that we generate the maximum possible benefit for our communities. The system now begins calculating immediately and also extrapolates the results for you, whilst at the same time telling you how much confidence you can have in the accuracy of the data, and producing a full audit of changes.

Adam Wilkinson from LM3 Online concludes: “We would like to thank Morgan Sindall Group for its support in developing this version. We are very grateful to Morgan Sindall Group, both for its experience in construction contracts and generosity in allowing us make this module available to all of our clients.