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Inventory Optimisation in Mining

Inventory management is of paramount importance to mining companies. But the reliance on manual processes, and the disconnect between systems, makes it difficult to gain accurate insights in a timely manner.

Technology is crucial to inventory optimisation because it provides reliable, real-time visibility into production performance.

From fleet and process data to grade information, technology helps mining companies manage inventory efficiently, while allowing them to optimise performance across the entire supply chain.

Key fact: Effective inventory management reduces inventory without risk, saving approximately 20% of inventory value

Asset health is central to an effective inventory optimisation system, especially in an industry where increasing productivity and reducing costs is more important than maximising throughput.

By automating production and performance reporting, digital inventory management solutions also enhance asset health. In turn, this reduces maintenance and CAPEX costs while improving health and safety measures.

Key fact: Queensland Alumina Limited (QAL) achieved an inventory reduction of 14% over 3 years, saving over $8 million, without production loss

Key features of advanced inventory management software systems include role-based permissions, improved data capture, and the contextualisation of data within a single dashboard.

Benefits

  • Better decision-making

  • Reduced material losses

  • Improved asset integrity

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