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The global increase in material consumption, projected to reach 180 billion tons by 2050, emphasizes the need for efficient supply chain strategies. BinMaster contributes to this by offering accurate measurements of bulk materials in various locations. Conrad Woerner, BinMaster Supply Chain Manager, highlights the potential for significant returns on investment through predictive data, waste reduction, and strategic ordering. BinMaster’s sensors and BinCloud software provide real-time inventory views, aiding in predictive ordering and waste reduction.
The importance of procurement optimization, strategic sourcing, and material aggregation in enhancing profits and reducing waste is underscored. BinMaster’s role is pivotal in generating essential data for these strategies. Case studies in agriculture, petrochemicals, and construction demonstrate successful applications of these supply chain strategies. In an era where data-driven decision-making is crucial, BinMaster stands out as a tool transforming bulk material inventory management, facilitating collaboration across managers and departments for strategic supply chain planning. For more information, visit www.binmaster.com.
Not long ago, bulk material management involved dirty clipboards, dangerous climbing, and long tape measures to determine grain, plastic, and cement levels in a bin or silo. Enter digital transformation which replaces antiquated processes using high-tech instruments like BinMaster level sensors and cloud software.
Digital transformation improves supply chain resilience, automation, accuracy, and efficiency, benefiting people effectively collaborating in a digital system.
BinMaster technology fits into the category of Internet of Things (IoT) which describes a wireless network of devices embedded with sensors for the purpose of connecting and exchanging data.IoT is automating manual tasksin the manufacturing industry.
IoT inventory sensors and software: > Provide insights for data-driven decisions. Increase efficiency and drive down costs > Shorten lead times for production > Reduce carrying costs and last-minute purchases > Reduces waste on bulk inventory that could spoil > Integrates inventory data to Enterprise Resource Planning systems > Streamlines transportation and timely ordering > Requires less labor and guesswork
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.”
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.”
Food, consumer products, packaging…nearly everything…involves the use of bulk solids at some point during their manufacture. In the retail world, inventory record accuracy costs an average of 1.75% loss of revenue. Their suppliers also suffer up to 0.73% loss of revenue. In a world of Industry 4.0...
