The digital revolution sweeping the globe has created opportunities for companies to fundamentally change and evolve their business model. It has unlocked a more customer centric, personalized, profit increasing, innovative and safety oriented opportunities for businesses.
In this changing market, the challenges faced by companies need to be tackled and addressed on priority. Many companies have been operating the same way for decades. Yet, they need to digitize their core processes to keep pace in this competitive market.
Let us look at the mining industry where change is now setting in quickly. Physical products and capital intensive supply chains are now being digitally assisted with technologies like:
The digital transformation of the mining companies has become vital for the business to survive, add value and flourish. The changing market and demands of the customers is also a key driving force in this transformation in the mining sector.
Digital Transformation: The Journey
Age old systems cannot be depended on to enhance and grow future business aspirations. To remain relevant in the competitive market, the company needs to transform at every level by creating new systems, core processes, operating systems and even business models with digitization at its epicentre.
Technology today can assist miners fulfil their roles with more safety and ease. There is a plethora of technology that assists, experiments and helps prioritize the best situations for maximum impact paving the way for autonomous mining in the future.
Preparing for and Achieving Digital Transformation in Mining
In order to have a successful digital transformation, a company needs to align its vision with technology which will support the transformation i.e. a flexible digital architecture. This will help companies move from monolithic high cost and high risk projects towards more flexible ones.
Companies need to adapt to and accept a more agile method of embracing digitization. Unfortunately it is not only about the individual company but about the industry as a whole which needs to implement changes to avoid redundancy.
Effectively implementing a digital solution can lead a mining company to improve their productivity and give the business a stronger foothold in the market. Management must keep in mind that before starting the digital transformation process, the company must be assessed at how well it can and how best to implement the changes.
There are various processes in mining which are interdependent on each other and hence digital mining makes it easier to reduce departments and treat the entire unit as one. This not only lowers operating costs but improves health and safety and shows tremendous growth and improvement across all areas.
Size of the operation is of no concern anymore and mining technology can benefit big and small units alike. The agile method makes it possible to modify and customize the technologies to suit the company’s infrastructure making it possible for small operations to benefit and extract value as well.
Benefits of Digital Transformation in Mining
“There’s a lot being said about digital in the mining space of late…When we talk about digital, we're really talking about the full range of innovations: technology, advanced analytics, digital, and another half-dozen other words I can mention: techniques that can really be used to drive improvements in productivity.” – Richard Sellschop, Partner, McKinsey and Company
In this world consumed by digital technologies, in order for a mining company to be successful, they need to digital transform while empowering employees, involving stakeholders, set a vision and create the change.
Let us have a look at key benefits for mining industries which invest in digital transformation:
Accurate data and record keeping by hand leads to errors and there is no way to gather or analyse data in this manner with optimum results. In order to make the necessary designs or modifications to plans, the data analysis and information relying needs to be perfect. For example, collecting and communicating data in real time like drill rates, payload weights and spotting times can appear on the operators display.
Real-time data helps operators to make decisions around dispatching, clean-up, maintenance, and more.
AI does not need to be applied in the filed alone, it is beneficial to bring about change in the internal processes of an organization as well. However, test cases can be used to predict where mining would have the most benefits and prove most lucrative. Drones, automated vehicles which do not require drives would also make it easier and safer for miners.
Safety and Asset Management
Once the data is safely analysed, the performance of mines automatically gets a boost. Safety is automated where technology not only informs companies about dangers, challenges a project might face but also which machines need servicing or are not performing well.
This ensures problems are dealt with before they cause any real harm. Automatic alerts get triggered when equipment’s are malfunctioning, thus ensuring they can get rectified in time without any delays or loss in profits.
Reduce Capital Costs
With risks getting minimized, the entire value chain gets a push with the increase in automation. Employees move away from hazardous work setting, while protecting the environment and enabling control and data monitoring from multiple areas in one or multiple sources.
The use of technology and automation also helps with the day to day decisions, where unwanted situations can be thwarted with the help of algorithms. Assessing, automating and optimizing are a few ways the mining industry can benefit from a digitally enabled integrated portfolio.
A digital transformation may come across as challenging especially the company is not prepared to make the necessary changes. Hence in order to have a successful transition they need ensure the vision and methodology support the digital architecture.
Mining today is complex where each department has its own systems. Digital transformation makes it possible to deal with all problems and embrace all opportunities from automated platforms. If you would like to discuss this possibility further, you can contact the App Scoop mobile app developers and app development team on: https://www.app-scoop.com/contact-us.html