Logistics & Supply Chain Management
While the performance of the mining industry is tied intricately to the entire state of the global economy, the supply chains in the past were most often linear as well as rigid. However, at present, supply chain resilience is the new buzzword. Furthermore, the pandemic, the trade policies as well as geopolitical tensions have displayed the vulnerabilities that are inherent in overly centralized supply chains.
Today, the modern supply chains are changing into decentralized ones with firms maintaining numerous suppliers for imperative components. Firms should be staying on top of mineral commodity flows & should react with agility to all types of supply chain disruption. The surge in developing economies such as India, Brazil is set to continue to reshape the global mining industry along with surge in demand for metals & minerals bolstering exploration & production. Furthermore, there is a push for huge transparency, implementing technologies like blockchain to track the origin of minerals & ensure ethical sourcing.
Today, several mining companies are anticipated to implement end-to-end supply chain management software, this will render real-time data right from procurement to logistics. Also, the implementation of the integration of AI & ML in daily operations will lead to optimizing numerous processes like production scheduling, demand forecasting & resource management.
One such company that offers a wide range of supply chain solutions to mining companies is BERRIO Logistics.
“As the economy grows, creating a demand for more capacity, there is an inherent need for the logistics sector to expand. With the economy projected to grow at a rate of 7% annually, the logistics industry must keep pace,” says Aqil Ashique, CEO of Driver Logistics.