When it comes to the mining sector, seamless operations can determine the success of an organization.
There are two instances of inventory management that play a major role in these critical processes: optimizing repair supplies inventory for production/extraction and optimizing asset inventory for distribution.
Repair Supplies Optimization
Downstream organizations need to ensure that their production sites are running continuously and at a high capacity sans disruption. With complex machinery and, in many cases, unpredictable climates, repair tools and supplies must be on-hand in case of any breakdown. Maintaining an inventory of these resources is essential to prevent the shutdown or pause of a site. Inventory management must work synergistically with other failure prevention procedures.
Asset Inventory Optimization
The demand of many raw materials, such as metals, has seen a decline and it is becoming increasingly difficult to predict. Mining companies must be prepared for the fluctuating demands of tomorrow. Many organizations risk having too high of inventory levels which could result in hefty costs associated with storage and maintenance or the contrary, if production experiences a disruption, having a safety stock of assets is essential to keep up with orders.
Adastra is a leader in the field of AI and Analytics, providing state-of-the-art services enabling industry leaders to optimize their supply chain processes. Leveraging the latest artificial intelligence and machine learning methodologies, our experts will design a solution that will give you demand forecasting capabilities, taking both internal and external factors into account, such as machinery health or inclement weather conditions.
With Adastra as your data partner, you will optimize procurement of repair tools, reducing downtime. You will also avoid the burden of inventory backlog, while effectively determining the right amount of safety stock to ensure order fulfillment. Our award-winning know-how in analytics will help your organization make data-driven decisions when it comes to maintaining an optimal inventory and effectively reducing costs.
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