Mining, Natural Resources
In mining, one of the largest expenses is capital investment in the fleets of heavy equipment for extraction and hauling of precious minerals and metals.
A global mining company faced a strategic imperative to improve productivity within its mining assets. Its management suspected it could get much more from its operations through better fleet management, but it lacked the visibility and information to accurately forecast needs on a regular basis. Its goal was to improve forecasts for fleet needs in order to boost daily production levels.
Insight and Action
QuantumBlack began by gathering data on fleet management, work metrics, and production to get a better sense of the disparities in performance across assets, operations, and fleets. We combined data sets in an effort to uncover the links between certain processes, maintenance activities, and scheduling to determine how they affected overall productivity. Through analytics, we identified factorsthat were having a significant impact on the company’s productivity, such as absence of supervisors, low scheduled maintenance compliance, and increased unscheduled maintenance. Our analysis showed that too much preventative maintenance on new equipment could negatively affect uptime and productivity.
- 5Percent margin of errorability to forecast daily equipment production 90% of the time
Equipped with this insight, the company was able to make better-informed decisions on staffing, maintenance schedules, and fleet management.