For any mining operation, downtime is expensive. For example, if a critical power source unexpectedly stops a process, unplanned downtime ensues, resulting in lost production revenue, which is the exact type of revenue many mining businesses these days cannot afford to lose.
With Australia’s mining sector moving well beyond from the build stage and into process optimisation, the need to enhance process efficiencies and get the most out of existing CAPEX and other assets is more crucial than ever for mining operators.
This was recently underlined by a report from PricewaterhouseCoopers (PwC), which found that the global mining industry’s open cut equipment productivity fell 20 per cent over the past seven years, despite a push for increased output.
PwC found that misinterpretation of common productivity metrics is costing the mining industry billions of dollars in lost earnings, and its research further revealed considerable financial gains could be achieved through more attention to the reliability and physical output of mining equipment.
So while investment in earthmoving equipment grew 17 per cent annually over this period, output had only improved by a mere 5 per cent.
Although the fundamentals of mining have not changed, more and more what’s required is a change at the operational level that embraces the latest facets of digital communication and modern technologies in order to drive efficiencies.
This is where using Business Management Software can make the difference between increasing the productivity and efficiency of a mining operation rather than allowing process wastage and productivity slumps to become the norm – a situation that is more common than some operators may care to admit.
According to the Mineral Council of Australia, the mining industry last delivered a productivity increase in 2003. Since then overall productivity in the minerals sector has fallen by 30 per cent.
For this situation to be reversed, the use of Business Management Solutions is becoming more commonplace in order to turn insight into opportunity that then drives and supports growth.
With the advent of end-to-end vertical solutions such as the Sage X3 Business Management Solution for mining, companies are now able to take back control of complex operations and increase their performance with faster, simpler and more flexible business management software.
Unlike traditional enterprise resource planning (ERP) solutions, the web-based Sage X3 solution is a simpler and more flexible business management solution that provides the tools and insights needed to reduce costs, gain new customers and grow revenues.
The Sage X3 Business Management Solution for mining has been designed to provide seamless mobile access to data from any mobile device from even the remotest of mines sites, thereby improving efficiency and productivity as well as reducing communication errors or the need to go to the office to access data.
By providing across the board, multiplatform and 24×7 mobile access, the Sage X3 solution has shown it’s a key differentiator, with the ability to turn any mining business into a more efficient and responsive organisation, both locally and globally.
If you would like to know more about how the Sage X3 Business Management Solution can streamline your mining, gas or resources operation, download our free whitepaper:
The web-based solution to optimising mining efficiency and productivity here.