January 18, 2018

$72 Billion Measured via 12 Million Images

Author: Stockpile Reports

It’s happening. Together we’re rapidly evolving the way business gets measured. We hope your phones are buzzing as much as ours and that you’ve been enjoying the confidence that comes from consistent inventory data. Let’s look at what we accomplished together in 2017.

Our first customer measured their first stockpile back in September of 2012. Since then thousands of people, in hundreds of companies, across 31 countries, have performed stockpile measurements, and as the close of 2017, seventy-two billion dollars of materials have been measured.

Top 3 Use Cases in 2017

1. Eliminating Write-offs: Write-offs hurt, and everyone has a write-off story. One of the primary reasons people use Stockpile Reports is to manage their inventory, enabling easier, faster, more consistent physical inventory counts. More frequent counts equals catching discrepancies before they can cause any serious problems, making everyone happy and successful.
2. Verification of Material Purchases: Ordering materials for the job site or bolstering your inventory levels with outside orders can introduce a lot of risk. More and more, customers have been using the patented Stockpile Reports iPhone to do quick spot checks of deliveries, ensuring the amounts are correct and guaranteeing they have what they need to get things done.
3. Cutting Costs & Improving Safety: Customers are experiencing a 10x boost in time-savings when using Stockpile Reports over traditional methods. Quicker inventory means less man-hours spent. Even when considering other new drone-based offerings, Stockpile Reports automates all the back-office work, allowing you to get inventory done faster.Keeping people off piles improves safety. Whether using the Stockpile Reports iPhone app or your own drone, you’ll be able to stay on flat ground, out of harm’s way, avoiding the risks associated with climbing on piles.
   

How Do Our Top 20 Customers Use Stockpile Reports?

Usage by Industry

Off-loading Your Drone Flights to Us: At the beginning of 2017 we launched a nationwide network of drone pilots, available to fly drones for you, helping you avoid the time and cost of spending your own internal resources on measuring inventory with drones. That service immediately got traction, to where now over 20% of the measurements flowing through Stockpile Reports are now done by one of our pilots.

Usage Growth

Since the beginning of 2015 we’ve seen almost 928% growth! Measurements surging over 300% in 2017 alone, everyone is moving toward more frequent inventory counts. Companies are looking at have us fly the drones for them, enabling fast, no-nonsense inventory at scale with almost no additional overhead or man-hours on their part.

Measurement Frequency

Top 3 Storage Risks Identified Across Our Customer Base: Since Stockpile Reports automatically identifies site condition risk, we have been able to see general trends in site conditions across the entire customer base. In addition to equipment, debris, standing water, and buried bases, we’ve seen the above three risks surface as the most common issues that generate inventory risk.

Over 12 Million Images Processed: If your full-time job was to go out and take a photo every 5 seconds of your work-day, it would take you nearly 8.33 years to take 12,000,000 photos. Now imagine having to compare every pixel with every other pixel, calculating those pixel’s position in 3d space, generating a visual model and statistics on the volume and tonnage of those image sets. You wouldn’t be able to finish before you retired from your job. Our system is infinitely scalable and handles that process every day.

In the Future…

In the not too distant future we see the emergence of real-time data captured from cameras and sensors on hard-hats, vehicles, front-loaders, stationary poles, phones and drones, creating a real-time flow of production stats, site conditions, and equipment status. Imagine having your safety glasses with real-time stats floating above your crusher, belts, and each pile. You’ll always be in the know.

Summary

Stockpile Reports Management System remains the only service enabling the full business impact from inventory measures to dispute resolution.

Thousands of customers are managing their inventory with our web portal, doing frequent, effortless inventory at scale. Whether using our drone pilots, flying yourself, or using our patented iPhone app, inventories are happening faster, more consistently, everywhere, resulting in fewer write-offs and swift resolutions with customers, auditors, and accountants.

Tens of thousands of verified reports were shared between: measurers, managers, operations, and finance, all working together around in-depth reports and common goals.