Transactional R&R Inventory
Transactional management of Resource and Reserve entails fully extending inventory management principles to mine production planning and control. MineRP's GeoInventory(TM) patent takes this to the next level .
Managing the reserve as stock unlocks principles of inventory and materials management long available in other industries. Running the mine like a factory is more possible than you think!
The Objective
The Problem
The Solution
Successful enterprises are recognized by close attention to money, process and inventory.
Even so, mines seem to pay far too little attention to managing their primary asset - the mineral resource as inventory.
Managing inventory implies planning, tracking, transacting and reconciliation. It spans the physical as well as financial dimensions of the problem and addresses both operational and financial domains.
Why not have a real-time view on your mineral asset's lifecycle status as you plan, develop, exploit, treat and sell material every day?
MineRP’s GeoInventory patent and Unified Mineral Inventory Management Solution employ best practice in materials and inventory management to enable running of the mine like a factory and optimal management of mineral assets.
Managing resources and reserves in the ERP triggers production, logistics and financial asset accounting practices and processes.
MineRP delivers the continuous insight into the execution and forecasted outcomes from a mineral inventory perspective removes latency from R&R decision making
Classification and evaluation of resources and reserves is based on highly technical calculations from a multitude of typically non-integrated MTS data-sets.
Mine planners are constrained in their ability to leverage internal or external demand signals to set inventory goals and create an appropriate resource to reserve conversion strategies.
Mine plans should consider the constraints and opportunities offered by inventory optimization strategies to maximize profitability or minimize financial risk across all key product areas.