What are the biggest challenges that the mining equipment, technology, services (METS) sector? We’re breaking down what these are and the ERP solutions that can help.
In Australia, the mining equipment, technology, and services (METS) industry is a major contributor to the country’s development and it is only set to get bigger with a projected growth of $50 Billion by 2030.
This growth comes with the advent of advanced technologies that are set to create more opportunities for those who want to be a part of the industry. Digital and intelligent mining is the future and many businesses are working towards this path.
But the road to growth isn’t as smooth and there are speedbumps along the way.
According to the Mining Innovation: Key Mining Industry Challenges report conducted by METS Ignited, here are the obstacles that the industry must overcome:
- Deeper, continuously up to date, understanding of the resource base
- Boosting productivity and maintenance performance through analytics, connectivity and IoT
- Optimising material and equipment flow, towards a continuous mining and processing mindset
- Improving performance and reducing harm through mechanisation and automation
- Selective mining and processing to boost processing intensity
- Novel mining and processing addressing difficult and presently uneconomic orebodies (e.g. low-grade)
- Reducing mining’s footprint including boosting safety and environmental performance, and improving stakeholder relations
- Improving exploration for deep and remotely located minerals
One of the ways that METS businesses in Australia are addressing these challenges is through ERP systems. The digitalisation and modernisation of the METS sector are crucial to its upward trajectory.
ERP Solutions can support the growth of the industry in many ways. Below are just a few examples of how ERP systems solve METS challenges.
Smart Mining Decisions
ERP solutions provide METS businesses with a 360-degree view of the operations and capture all data in real-time, allowing them to make quick, accurate, and data-driven mining decisions.
More advanced analytics can also be expected from this consolidated platform for data.
Connectivity and Mobility for Industry 4.0
During the Alphabiz Solutions and TOKN Technology’s Modernising METS webinar, we discussed many of the emerging technologies in mining such as automation, robotics, and digitally-enabled gadgets for the workforce.
All of these technologies are helping to create safer and more efficient mines. And they belong to one ecosystem which can be connected and integrated with ERP systems or mobile resource planning (MRP) platforms.
With all of these technologies combined, the result is next-level efficiency.
Mining’s complex operations become more simple, streamlined, and safe. And the improving productivity, connectivity, and mobility in the workforce open up many exciting possibilities for the future of METS.
There’s so much more to unpack about the many benefits of ERP systems for this developing industry.
And if you’re looking for an ERP provider in Western Australia to help you find the solution for your METS business, the Alphabiz Team is ready to provide you with the information you may need.
Contact us for your ERP questions and let us assist you.