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The client is a mining equipment manufacturer based out of Canada. The company had to spend around 35% to 50% of its annual operating budget on equipment maintenance and repair alone. Also, injuries and fatalities were becoming common in the company. Besides, due to the decline in the availability of untapped high-quality ore deposit, the company had to struggle with lower productivity and profits. They wanted to find innovative ways to keep production running with fewer funds. In addition, they wanted to analyze their competitors’ business strategies and identify processes adopted by them to tackle the industry challenges.
More than half of mining companies expect their revenues to decline in the second quarter of 2020 owing to the COVID-19 crisis. Request more info to learn how we can help mining companies ensure business continuity and succeed in the long run.
- Market scanning and monitoring analysis to analyze the Canadian mining equipment market landscape. By doing so, the experts helped the client to keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, and identify regional market developments.
- Competitor analysis study to analyze how the client measured up against the top ten companies in the Canadian mining equipment market. Also, the experts analyzed the areas where the client struggled and performed well in comparison to their competitors.
- Technology assessment to identify the latest technologies and techniques leveraged by the top mining companies in Canada to automate their processes.
- Market potential analysis to analyze the profit potential of the company for the next five years.
Business impact of the market intelligence solution for the mining industry client
By leveraging Infiniti’s market intelligence solution, the client was able to identify the cost-effective technologies leveraged by their competitors to enhance business efficiency.
The mining industry client was also able to:
- Embed internet-enabled sensors in its physical assets to capture considerable volumes of data
- Anticipate the machinery failures or generated alerts when a potential problem was noticed
- Invest into smart safety wears
- Adopted automation processes to control costs and keep up with their production needs
- Achieve savings of over 22% in their annual operating budget
To respond best to the changes driven by the COVID-19 pandemic, mining companies must consider reorienting their commercial models to fit the needs of customers. Our business continuity support solutions can help mining companies to achieve this objective. Contact us here.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us.