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Before COVID and the supply chain crisis, industries relied on savvy just-in-time ordering to minimize carrying costs like warehousing, tied up capital, product spoilage, and waste. According to Investopedia, such carrying costs represent up to 30% of total material value. “We’re navigating the same supply chain waves as our customers,” said Scott Hudson, Executive VP Sales & Marketing, BinMaster. “We’re still hearing from people who can’t get their materials delivered on a consistent schedule, so they’re really using BinMaster for planning orders. They just can’t afford to shut down production because of a bad or outdated measurement.”
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...
