3 Ways Stockpile Measurements Help Mining And Quarry Companies
By Author – July 13, 2021
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Mining and quarry companies can benefit immensely by using technology, specifically drone technology, to perform stockpile measurements. The data collected by drones is more accurate, more reliable, faster, and more efficient than traditional methods. Drones are the future for mining, and quarry companies that want to be successful.
1. Improved Reliability of data
Using a drone for stockpile measurements is a highly effective and accurate method. In fact, the results have 2% to 3% tolerances on measuring production. Having accurate data helps reduce the difference between what’s forecasted and what’s delivered, which improves reconciliation. This means you will know how much needs to be produced to meet demand. And you won’t have to borrow more than is needed or lose sales because you don’t have the product available.
With stockpile measurements, managers can identify any areas where there are issues. Using these highly accurate numbers makes finding any inaccuracies much easier. The more data, the more the manager can understand the overall picture of what’s happening at the company.
2. Rapid Turn Around
Traditional methods of measuring stockpiles at mining and quarry companies could take one to two weeks. Whereas measuring these stockpiles with the use of a drone can be done in just two to five days. The difference between a few days and a couple of weeks has a big impact on your business. It’s less time-consuming, which allows you to be free to complete other tasks that need to be done.
Thanks to the rapid turn-around and highly accurate data, project managers can make sound decisions faster than ever before.
3. Measuring Production Efficiency
The inventory turnover ratio is calculated by dividing the company’s sales by the company’s average inventory over a certain period of time. Knowing the inventory ratio is key to running a business with production efficiency. Having extensive data allows you to do this with highly accurate results.
Knowing the inventory ratio leads to better business decisions. Managers will know the exact amounts of available inventory and can make informed decisions because of it; you don’t want to have too much inventory or too little. And the last thing you want to do is sell your product at a discount simply because you have too much inventory on hand.
When it comes to efficiency, measuring stockpiles with a drone allows employees to be free to work on other important tasks. Not to mention the added safety since you no longer have surveyors or employees walking through your site. Measuring stockpiles with a drone reduces labor and potential costs from worker injuries or other safety issues.
Not only can the data collected from measuring stockpiles be useful for inventory reasons, but it also makes it possible for managers to forecast when new machinery may be needed. Even better, they can forecast when specific parts may need to be replaced rather than being surprised by a sudden equipment failure. A Manager can be prepared with parts on hand to fix the issues and improve productivity.
Wrapping it up
Stockpile measurement data is essential to improve productivity in the mining and quarry industries. In an economy with fluctuating prices of products and demand uncertainty, this data equips companies with the data needed to make informed decisions to increase profitability and efficiency rather than be at the mercy of outside factors.
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If you are interested in using our services, feel free to contact us below. Whether the need to measure your stockpiles stays consistent throughout the year for asset turnover ratio calculations or a discrepancy has come up on a site, our team is here to help.
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