Procurement and inventory management system implemented for the gold mine

CLIENT

A newly acquired gold mine lacked an integrated system and processes to manage MRO planning, procurement, inventory, and consumption. Instead, a set of shared excel tables with an accounting system were employed. As a result, production suffered from the absence of required materials, at the same time yielding excessive purchases and duplicated stock.

ACTIONS TAKEN

1. Inventory Management and Master Data Management processes, roles, and responsibilities defined and formalized with documents and policies
2. An integrated system for procurement and inventory management, including annual budget planning, logistics, and warehouse operations, was designed, developed, and rolled out in stages
3. The procurement budget, stock parameters, and master data were reviewed and normalized

RESULTS ACHIEVED

1. IMS system successfully launched across all departments
2. 6,2% budget savings were achieved on a single budgeting cycle
3. Catalogue of 20k records was cleansed from duplicates, leading to stock reduction