Digitalization – Making the Metals and Mining Industry More Agile and Efficient
The metals & mining industry forms the core of industrial development as it provides elementary raw materials for most of the downstream industries like power, steel, cement, aluminum, etc. The metals and mining industry has been dogged by several persistent issues like geological uncertainty, market volatility, operational hazards, etc. Though miners have been one of the early adopters of technological or digital advances most of those digital efforts were on improving operations and not process-oriented areas such as procurement and supply chain. As a result, even the digital leaders of the industry are relatively 30% less digitally mature as compared to their counterparts in the chemical and automotive industries.
According to a DAI survey, manual and fragmented procurement cycles are still a norm in nearly 75% of companies.