How does fast and accurate stockpile inventory positively impact aggregate producers’ bottom lines? Aggregates Business hears how one computer vision software company achieved this for a major industry customer
In the fast-paced aggregates world, accurate and timely stockpile inventory is crucial for operational efficiency and financial reporting. Yet, the traditional methods of measuring bulk materials like rock, dirt, and mulch often deplete internal resources and lead to delays, disputes, and inconsistencies. Enter Stockpile Reports, a computer vision software company revolutionising how companies track and manage their bulk material assets.
Stockpile Reports enabled one large global vertically integrated bulk materials producer customer to verify over 10 million tonnes of inventory across 87 sites in less than 24 hours, setting a new industry standard. The sites in question are situated across five US states.
The challenge of stockpile inventory management
Managing stockpile inventory in the aggregates industry is no small feat. Companies often grapple with resource intensiveness, as traditional measurement methods require significant manpower and time. Then, there can be inconsistencies and errors, as manual measurements are prone to human error and internal biases. Delayed reporting prolongs measurement processes and can delay financial reporting and decision-making. Finally, there are audit risks, with inaccurate inventories potentially causing financial discrepancies and audit challenges.
The Stockpile Reports’ major bulk materials producer customer faced these challenges. With operations spanning multiple locations, they needed an accurate, scalable, and efficient solution.
Stockpile Reports offers an enterprise SaaS (Software as a Service) platform that automates the measurement of bulk materials using advanced photogrammetry and computer vision technology. By leveraging imagery from drones, planes, and even smartphones, the company provides precise and reliable measurements without the traditional hassles.
Stockpile Reports’ success with the customer resulted from a meticulously planned and executed workflow. Site parameters were set up as a one-time task to streamline future measurements. A coordinated plan was established to capture inventory across all sites simultaneously. High-resolution aerial imagery was collected without ground control points thanks to flight-to-flight image registration. Imagery data was uploaded to Stockpile Reports’ cloud-based intelligent image processing service on the same day and stored securely. Advanced algorithms automatically identified individual stockpiles. Automated processes calculated volumes using precise measurements of toes and base planes. Any reports flagged for potential issues underwent a quality review. Automated reports were generated and posted on a secure portal. Interactive site images were provided for product identification and verification by the customer. The system identified risks such as combined piles, obstructions, or environmental factors affecting accuracy. Only measurements that met stringent accuracy criteria were finalised. Comprehensive PDFs were generated for audit transparency. A controlled process was also in place to manage any discrepancies or disputes.
Stockpile Reports believes several key attributes set its offer apart from traditional methods and other technological solutions. The automated system eliminates internal biases and errors by removing the need for manual clicking or point selection. Algorithms handle heavy lifting traditionally performed manually, from pile identification to volume calculations. Company policies for density factors and product specifications are tightly controlled. Modifications to these subjective assumptions are restricted, ensuring consistency and reliability. Each measurement is independently evaluated for over a dozen common problems that can corrupt accuracy. The system provides confidence scores and does not publish unreliable reports, mitigating financial statement risks. The detailed reports and transparent processes meet the scrutiny of major audit firms, classifying Stockpile Reports as a third-party verification service.
EveryPoint in precision measurement
Stockpile Reports’ image processing is powered by EveryPoint, an intelligent software service that continuously replicates real-world assets. This technology ensures that imagery from various sources, such as drones, planes, or smartphones, is integrated and cohesively processed. Obstructions are auto-corrected, with the system identifying and adjusting for equipment, vegetation, or other obstructions. The objective surface scoring provides an unbiased assessment of the stockpile surfaces.
Compared to GIS tools & drone GIS solutions
While GIS tools play a vital role in mapping for mine planning and inspections, they often fall short of efficient stockpile measurement, said Stockpile Reports. Drone GIS solutions require substantial manual work for measurements and data processing. Stockpile Reports cites studies indicating these solutions can take up to 20 times more internal manpower than its own. The absence of automated pile identification and volume calculation is said by Stockpile Reports to lead to inconsistencies and errors.
“Using a traditional GIS tool, the customer likely would have incurred more than 1,600 hours of fieldwork managing ground control and measurement calculations and reviewing estimates. This would have required more than 60 FTEs [full-time employees] to achieve in the same time frame. The cost of monthly inventory verification using traditional methods is exponentially more expensive than digitisation,” said Stockpile Reports.
Setting a new industry standard
The customer and Stockpile Reports’ collaboration exemplifies how technology can transform traditional industries. By achieving an enterprise-wide inventory across 87 sites in less than a day, the company demonstrated that accuracy, efficiency, and scalability are not mutually exclusive.
Stockpile Reports said this represents a significant advancement in operational efficiency for the aggregates industry. Rapid measurements free up resources for other critical tasks. Reliable data supports accurate financial reporting and reduces audit risks, while timely and precise inventory data informs better business decisions.
