Markets in Transition Episode 1 | Andrea Aranguren, CEO & President, Minehub Technologies
Sep 7, 2024
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Andrea Aranguren, CEO and President of Minehub Technologies, discusses the evolution of supply chain management in the metal and mining sectors. She highlights the transformative shift from outdated tools like email and Excel to advanced digital platforms, improving efficiency and transparency. The conversation covers the significance of data security in this transition, as well as the need to understand client requirements in a rapidly changing market. Aranguren also explores how sustainable practices could impact the market value of metals amidst rising ESG concerns.
The transition to digital supply chains is crucial for the metals and mining industries to enhance efficiency and sustainability.
Internal champions and industry examples can significantly ease the transition to digital platforms, fostering operational improvements and accountability.
Deep dives
Transitioning to Digital Supply Chains
The transition from traditional methods like Excel and email to digital supply chains is essential for the metals and mining industries, which require efficient, resilient, and sustainable operations. Many companies still rely heavily on outdated systems to manage data, leading to inefficiencies and silos that complicate data sharing. By adopting a phased implementation approach, companies can tackle this transition gradually, starting with a single segment of their operations. This method allows firms to recognize early successes and build towards a fully integrated digital network, fostering a seamless exchange of information across all stakeholders.
Overcoming Resistance to Change
Resistance to digitization often stems from the long-standing reliance on traditional practices, making potential adopters skeptical about the transition's feasibility. By identifying internal champions within organizations and leveraging the influence of major customers, companies can facilitate a smoother shift to digital platforms. Successful case examples serve to dismantle hesitations, demonstrating that embracing digital tools can lead to significant operational efficiencies. The impact of peer usage on platform adoption is profound; companies are more inclined to transition when they see trusted industry leaders benefiting from the same system.
The Future of Transparency and Data Utilization
The anticipated evolution towards fully digital supply chains promises increased transparency and improved reporting capabilities, linking efficiency and sustainability in the commodities market. With more reliable data access, organizations can better track ESG compliance and the origins of commodities, enhancing accountability within their operations. Stakeholders increasingly demand insight into product sourcing, especially in light of geopolitical events, which pushes companies towards smarter, more transparent practices. Ultimately, this shift could lead to a preferential pricing model for sustainable materials, incentivizing greener production methods as the industry transitions.
This week, we kick off our new series, Markets in Transition.
The energy transition is changing global markets in natural gas, carbon, and battery metals. In our new series, we’ll be discussing what these changes mean for our markets — and what smarter markets and market infrastructure we need to build to meet the needs of the energy transition.
We begin our Markets in Transition series with Andrea Aranguren, CEO & President of Minehub Technologies. SmarterMarkets™ host David Greely sits down with Andrea to discuss the transition from email and Excel to digital supply chains – and what it means for companies and markets.
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