Enhancing operational outcomes through data integration and analytics
Enterprise resource planning platforms can enable mining operations to optimize deployment of personnel and equipment. daniel balakov via getty images
Data-driven decision-making can help to improve outcomes for any project or business – and bring benefits for reducing risks and errors, improving efficiency and resource allocation – and enhance transparency and scalability.
Enterprise resource planning (ERP) solutions enable such benefits, says Jeff Weiss, chief revenue officer at CMiC, the leading provider of next-generation construction ERP. “Having real-time analytics that capture not only financial but also operational aspects of projects enables professionals to make data-driven decisions, and that’s what CMiC provides.”
With a 50-year track record of enabling business success in the construction industry, CMiC is leveraging this expertise in mining and exploration, a sector where projects come with similar complexity – and where every decision brings potential downstream effects.
“Having real-time analytics that capture not only financial but also operational aspects of projects enables professionals to make data-driven decisions, and that’s what CMiC provides. ”
What makes ERP solutions so powerful is the ability to integrate virtually all aspects of an operation. The resulting real-time visibility and actionable intelligence lead to enhanced operational control, which ultimately drives efficiency, profitability and success, he explains.
“The performance of an enterprise or project comes down to how efficiently resources are managed – be it human, machinery, materials or finances – and that’s where being able to track and manage all resources on an ERP built on a single database platform is very beneficial.”
Just consider the complexity of mining and exploration activities from a human resources perspective. When teams are assigned tasks across various locations, it is obvious that being able to track progress for each task and allocate resources accordingly can help increase efficiency and reduce delays.
The same concept of resource optimization applies to assets like vehicles, machinery and tools, says Mr. Weiss. “Mining is highly equipment-intensive, so insights on where units have been put in place, whether they are productive and where they can be deployed next can enable a project to move forward in a timely and cost-effective fashion.”
In addition to enabling efficient deployment of equipment, ERP systems provide real-time data on the condition of each piece of equipment or asset, allowing for timely inspections and repairs, which can extend the lifespan of critical machinery and prevent unexpected delays due to breakdowns.
As mining businesses increasingly adopt advanced technologies, including autonomous equipment, Mr. Weiss suggests that maximizing data-integration opportunities to optimize such high-value assets can help unlock their full potential for improving safety and productivity.
Using one centralized platform to monitor and enhance all performance parameters “also allows more accurate budgeting, tracking expenses and forecasting revenue,” he notes. “Having real-time financial reports is important for making sure operations are profitable – and can also enable organizations to fulfill regulatory reporting requirements as well as attract investments.
“ERPs allow you to manage multiple projects, multiple businesses and multiple products, so companies set themselves up for long-term success since they can scale up with ease,” he says. “You can deploy the application at a single mine or for managing a thousand mines, and you will see real returns on investment across the entire spectrum.”
Managing a project and operating a business effectively requires access to timely and appropriate data. Organizations that contend with fragmented systems – where they have to chase data across silos – lose valuable insights along the way, according to Mr. Weiss.
“Data is everything, and with data, everything can be improved,” he says. “In my opinion, not considering these kinds of efficiencies amounts to fiduciary negligence.”
For more information, please visit cmicglobal.com/mining.
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