How Accelerating Digital Transformation Will Help Metals And Mining Companies To Thrive

Metals and mining companies will be able to increase throughput, simplify operations, decrease complexity, and cut costs by speeding digital transformation.

Fremont, CA: Throughout the value chain, metals and mining firms are investing in digital technology from operations to procurement to sales and marketing. When compared to the automotive or chemical sectors, the metals and mining business is around 30 percentage to 40 percentage less digitally advanced. That's a massive shortfall. Metals and mining companies may increase throughput, simplify operations, decrease complexity, and cut costs by speeding digital transformation. However, many mining and metals firms are having difficulty implementing digital changes.

To achieve comprehensive digitization, metal and mining firms must integrate digital thinking, procedures, and structures throughout their whole company. Many miners aim for true digital transformation, but they lack visibility and struggle to implement a successful digital strategy.

The majority of metals and mining industries' digital initiatives have typically focused on enhancing operations. As a result, digital maturity scores in areas like sales and marketing, procurement, and human resources are significantly lower even among digital leaders. As the number of digital possibilities in operations decreases, it's critical to start using digital in other areas, such as:

Procurement

A digital strategy decreases procurement process overheads and mistakes. For example, many customers have switched to a QR-based purchasing system, which automates all background procedures and lowers the buy order process to just one click. In addition, purchase teams will be assisted by AI-based negotiating coaches during the procurement process.

Supply chain

On the other side, digital leaders are developing integrated operations planning systems that provide them with single-click visibility into broad, fragmented value chains.

Sales and marketing

On the other side, digital leaders are embracing a cross-functional approach to sales, marketing, new product development, and finance.

Finance

Managers utilized CFO tools to simulate complicated and multivariate situations during the COVID-19 outbreak swiftly. As the pandemic progressed, these models assisted them in providing vital insights into company strategy.

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