For the yearly measurement, surveyors would come in with GPS backpack and actually walk on these piles. The construction companies or governmental firms owning the bulk materials have to do a measurement of the inventories every year for the financial audit. This is massive, considering that the big companies have up to hundreds of millions of dollars of inventory. Guessing the levels can result in being 30-40% off. Companies don’t know exactly what is going out and what is coming in. Once the bulk materials are on location, it is impossible to do a perpetual inventory (a method of accounting for inventory that records the sale or purchase of inventory)”. Boardman: “It is really hard to track or measure material that doesn’t come into boxes and doesn’t have identification tags.
These materials come in huge volumes and are used for road construction or when in the case of salt, used to make the roads snow-free in winter times. We all have seen the big piles of rocks, gravel, sand or salt near warehouses, on industrial areas or near harbors. We looked at 30-40 commercial business problems and inventory management in bulk industries came out as a sector with the greatest need for such a technology and the biggest market opportunity for what we had in mind”, explains David Boardman, CEO of Stockpile Reports. At the time, we looked closely at which problems we could solve with image processing. “We are a computer vision company, doing the image processing since 2011. There is a need to know what’s actually on the ground and ready to sell.
The mission of the company is to remove the guesswork when it comes to inventories. The company has customers in 21 different industries and primarily sells to the US, followed by Australia and Europe. to gain insights on the inventory levels to help buyers and sellers understand how much product is left. Their customers are using fixed cameras to measure the shape of inventory piles of salt, stones, gravel, etc. Recently, they announced their fixed-camera solution, which offers real-time measurement and the automation of inventory ordering. Stockpile Reports, a cutting-edge stockpile measurement solution, has been active in these industries since 2013. A great example of how images can help is seen in the ready-mixed concrete, gravel, rock, sand, and salt industries. The use of imaging technology has seen a great flight in some sectors to help professionals to retrieve more relevant data, to gain better insights, and to make better decisions in their daily work.
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