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There’s money to be made through smart supply chain strategies like procurement optimization, material aggregation, and strategic sourcing. During the past 30 years, total global material consumption has increased by 80% and is projected to reach 180 billion tons of different materials by 2050.
“We’re engaged with industries using predictive data,” said Conrad Woerner, BinMaster Supply Chain Manager. “If a company can access its bulk material needs and realize just 1 or 2% waste reduction, or create an ordering rhythm to purchase at a lower price point, it could create millions of dollars return on investment.”
While big bins need big sensors,smaller vessels are just as critical for monitoring and measuring. The food industry,, water purification plants, and pharmaceutical operations often mix ingredients in smaller amounts stored in tiny tanks and small silos.
In the face of soaring inflation, intense competition, and supply chain challenges, industries are turning to technology solutions, particularly Industry 4.0 goals, to stay competitive. McKinsey & Company’s study highlights the cement industry’s need for digitization, sustainability, and...
