MINCOM has released its Critical Inventory Optimisation which maintains optimal inventory levels while preventing stock-outs of critical parts.
The Brisbane-based software house says that the software is suitable for asset and maintenance-intensive industries such as mining. The automation relieves organisations of the burden and expense of manual audits.
Chief Strategy Officer Jennifer Tejada says a typical asset-intensive company may have more than $100 million worth of inventory at any given time. She says that auditing inventory manually in these environments is a highly labour intensive and prohibitively expensive task, often times performed only once a year, if at all.
Mincom customer Queensland Alumina recently reduced inventory levels by 14%, freeing up over $8 million in working capital.