With an asset-and-energy intensive industry with fluctuating and cyclical commodity prices, metals and mining firms need to rethink their strategies as well as their operations to achieve long-term sustainability. They need to take a value-driven integrated approach across their supply chain and commit to full-cycle planning. They also need to enhance their productivity and boost their efficiency to mitigate declining profits and squeezed cash flows.
Digital is key, and firms are already developing innovative solutions and applications and transforming the way they run their businesses; from automation of their processes, to using connected sensors to understand and monitor complex resources, to machine learning and analytics in predictive maintenance and allocation of equipment, to collaborative robots use in mining operations, etc.
Firms are racing to keep up with the pace of the sector transformation, yet the journey is poised with unprecedented challenges. Key issues include:
- How to secure future economic growth options as current assets mature?
- How to dynamically allocate resources, manage uncertainty and rebalance the portfolio?
- How to develop risky assets on-time, on-budget, and on-quality?
- How to accelerate the pace of learning for improved performance?
- How to unlock the full potential of digital, from exploration to the end customer?
- How to deliver and manage a technology-enabled transformation to achieve digital maturity?
At Grenoble Partners, we advise clients on how to manage these uncertainties, make the right decisions and take a value-focused approach to restructure the firm for the digital future.