January 18, 2019

Billions of Dollars in Inventory – Your Story From 2018

Author: Stockpile Reports

In 2018, by using Stockpile Reports, as an industry you have saved 224,000 man hours worth $11.2 million dollars. We are seeing a growing number of you going all in using Stockpile Report across your whole company. Find out how you measured inventory at a greater frequency, with more efficiency, and was ultimately able to spend more time on what higher value activities.

Our first customer measured their first stockpile back in September of 2012. Since then, in thousands of locations across 36 countries, you have performed stockpile measurements resulting in one hundred twenty-eight billion dollars of materials being measured.

16.4 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 11.38 years to take 16,400,000 photos. Now imagine having to compare every pixel with every other pixel, calculating those pixels’ position in 3d space, generating a visual model, and computing 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.

Top 3 Use Cases in 2018

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 fewer 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

You are Saving Countless Hours Using Stockpile Reports: When using your own drone to perform inventory counts, you save an average of 7.4 hours per site. An additional 11 man-hours can be saved using one of our pilots resulting in a total of 18.4 hours per site. That is an average of $1,000 of man-hour savings per site. Customers using our pilot network increased 53% this year, where now over 26% of flights processed are done by Stockpile Reports pilots.

Usage Growth

Since the beginning of 2015, we’ve seen 1,245% in measurement growth! You are moving toward more frequent inventory counts and are continuing to have us fly the drones for you. This enables fast, no-nonsense inventory at scale with almost no additional overhead or man-hours on your 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.

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 Inventory System remains the only service enabling the full business impact from inventory measurement 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, and 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.