Are you missing a “forest” of improvement opportunities

• Are you missing the “forest” of smaller performance issues that accumulate and can lead to significant ongoing cost reduction.
• How to best gain a comprehensive understanding of operations is a common question raised by mining executives.
• Having a well-designed data warehouse creates a “single source of truth” for your mining operation.

When the all-in sustaining costs (AISC) are rising at your mining operation, or profit is falling, executive management will usually find some key levers to pull.

Issues with the ground being mined or shortage of human resources, are generally obvious and present impactful decision opportunities.

But hidden behind these headline issues, you might be missing the “forest” of smaller performance issues that tend to accumulate.

Perhaps your explosive materials are getting used at a rate 50% higher than the industry benchmark, for example.

Or you might know there are too many contractors on site, but it’s hard to identify which ones can be reduced.

These can be small numbers in isolation but in total, are leading to millions of dollars seeping off your bottom line.

Once addressed, these factors can lead to significant, ongoing cost reductions.

Gain better insight

The need to better understand the big picture is a centuries-old issue.

The expression “you cannot see the wood for trees” was included in English writer John Heywood’s collection of proverbs, published way back in the mid-1500s[i].

Fast-forwarding to the present, how to best gain a comprehensive understanding of operations is a common question raised by mining executives, according to informal market research conducted by Ramesys Global.

The answer lies in having reliable data at your fingertips.

Having a well-designed data warehouse creates a “single source of truth” for your mining operation.

This ends your dependence on multiple versions of excel documents or finding different departments have arrived at different numbers at month-end.

Most important benefit however is visibility – the ability to interrogate that variance number in front of you; to expand a headline cost or variance and see behind it the physical activities, cost transactions, and detail plan information making it up. Bringing you directly to the operational activities that are underperforming so that you as the operational expert can analyse and improve those activities.

Having confidence in the information presented to you, not only helps you drive improved decision-making but also provides a platform for optimisations and analysis.

This is how you enable quick adaptations to an ever-changing market.

Looking to the future

Ramesys Global’s turnkey financial software solution, which has been purpose-built for the mining industry, delivers a pre-configured data warehouse so you don’t have to build one yourself.

You’ll be able to connect to your single source of the truth with a few clicks, build reports in minutes and share them with your colleagues in seconds.

Your data will be transformed into intelligence.

It could well be time to put a better future in the frame.

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[i] https://en.wikiquote.org/wiki/John_Heywood