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A Guide To ERP for Mining Industry

To manage improvement in business, operation and production in mining industry, they need a perfect ERP for Mining Industry that can effectively manage all departments of mining industries like finance, warehouse, distribution and operations.

Why you need an ERP in the Mining Industry?

It essentially helps in reducing the cost of operation which eventually helps to increase profit in mining industry.

Reducing the time taken for calculation makes the financial planning to be done faster and hence the actual time taken for production will be reduced.

When the data entry into the ERP will be reduced, this will be a great advantage for the mining industry.

Also, ERP will enable flexibility in the improvement of the business.

Today, we discuss the various types of ERP for Mining Industry and explain what all can be achieved with just an ERP.

Maintenance:

From the day you have planned the mine to start the business till the day it is closed, before that you should have to have proper maintenance work. All the information about this will be recorded in the ERP for Mining Industry.

Planning:

The work of mining is always planned before starting with any kind of project. Having clear vision of how the project will be done and how the work will progress, this will help the management to frame plans that should be done.

Stock Management:

Stock management is a major factor in mining industry. If this is done in professional way, it can manage the positive results. So, maintaining the stock of right goods at the right time is the responsibility of the ERP for mining industry.

Interestingly, the ERP for Mining Industry also helps to conduct the inventory movement. It ensures that the process of management of mining industry is done in professional way.

Procurement Management:

When it comes to making the procurement management of mining industry, the ERP for Mining Industry will play a vital role. It helps in the procurement management of all the things required in the formation of mine.

Finance:

All the financial activities are done through the ERP for mining industry. It is responsible for the proper reconciliation of accounts and every transaction that is made in mining industry will be recorded in the ERP for mining industry.

Data Acquisition:

The primary task of ERP for Mining Industry is to acquire the data from suppliers and vendors and store it in the ERP in a better way. As soon as you have the data from suppliers, you can make the documentation of the material and this itself will be a huge advantage for the mining industry.

Training:

With the ERP for mining industry, you can easily train the staff for their better performance. The teachers can keep the track record for the entire class in the ERP and you can also keep your track record as well. This will be easy to identify the missing part of education and rectify it.

Material cost:

ERP for mining industry helps in calculating the cost of material and all the capital investment required for it. It makes sure that whatever is invested is worth it. With the procurement management, all the required machines are available and the accurate costing is done.

Valuation:

It is a complete solution for all the suppliers and vendors as well. With the ERP for mining industry, the valuation of the supply is done. It helps the vendors to ensure the proper accounting and it also helps to maintain the record properly.

Inventory Management:

According to the requirement, ERP for Mining Industry helps to manage inventory manager. Having the accurate details of inventory makes it easy to prevent any type of theft or loss.

Analytics:

Analytics will help in proper decision making and getting a clear idea about the correct thing to do. The analytics are available for all the employees and they can keep track of any progress in the mine.

Comparison:

It is helpful for comparison of the same data with earlier year. All the required data is kept in the software and it is easy to compare data of any part for to get the proper results.

Inventory:

Having the same inventory will prove to be very helpful for the smooth functioning of the mine. The ERP for mining industry is responsible for the proper maintenance and recording of inventory.

These are some of the important factors through which you can get the best and the smartest service from ERP for mining industry. As mining is one of the critical industries, proper ERP software can make all the difference.

Implementing an ERP in a Mining Company

Implementing an ERP in a Mining Company: It is highly recommended for all the relevant persons in a mining company learn how to adopt and implement an ERP. One of the best ways to learn how to use an ERP in a mining company is by doing it.

However, many companies prefer to hire a third-party consultant to facilitate its adoption process because there are a number of situations where some of the ERP implementation in a mining company can be modified as per the requirement.

In most of the cases, a third party consultant can facilitate the implementation of the ERP in a mining company because this is a highly customized ERP used for a specific industry.

All the information and details in the ERP for mining industry should be customized depending on the user requirement. There are certain cases where the ERP in a mining company can be modified, and in such cases, third party consultancy becomes a great plus for the mining industry.

The various steps involved in the lucrative process of ERP implementation in a mining company:

  1.  Assessment – ERP implementation in a mining company is a legal process and is subjected to many policies and other processes. The company is required to conduct a thorough assessment of the technological and process requirements before that. Since, it is a highly customized ERP, it is required to list out all the requirements that are required to customize and integrate processes as per the need of a particular industry.
  2. Analysis – To implement an ERP in a mining company requires your due diligence in analyzing the current and future situation of the company. The present and future status of a company cannot be changed, but the company can plan its future and incorporate a better measure of all the necessities for that in a phased manner.
  3. Design and Development – If the company wants to implement an ERP in a mining company without any support from a third party, then it should have a team of competent analysts and developers who can customize the ERP to suit the various needs of the company.
  4.  Deployment – When the design and developing phase of the ERP in a mining company is over, it is time to deploy the same. Deployment of the ERP is done after the completion of the training process of the staff and user acceptance of the project.

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