THE satisfaction of Australian miners with their suppliers has improved since the beginning of 2014, according to Timetric’s latest survey data. Improvements were particularly notable in areas such as ‘maintenance and service costs’ and the ‘availability of replacement parts’.
Having surveyed 100 mine managers and other key decision-makers across Australian mines in early 2014 and again in late 2015, Timetric has found respondents are now more satisfied with their main equipment suppliers. In both surveys Timetric asked respondents to rank the performance of their main equipment supplier across 16 factors ranging from cost, product and service-related factors.
In the quarter four 2015 survey respondents were generally well satisfied with their suppliers across most factors, rating each factor between 7 and 8.4 with the range being from 1 for very dissatisfied to 10 for very satisfied. Previously ratings had ranged from 6.2 to 7.6. Across the range there has been an average improvement of 0.5 points.
Satisfaction levels for various components of the provision of mining supplies.
Notable areas of improvement included the ‘availability of replacement parts’, ‘maintenance and service costs’ and the ‘depth of data available’. In the 2014 survey, ‘availability of parts’ and ‘maintenance and service costs’ were two key areas that miners specifically cited as important when selecting a supplier and ones in need of improvement, especially as they sought to reduce costs and improve productivity. The improvements in data availability have also helped miners in measuring and managing equipment performance.
“Overall, with their customers facing severe cost pressures amid low commodity prices, suppliers have focused on improving satisfaction with equipment cost and productivity, hence the high ratings areas in these and many other cost-related areas such as total life course, price and energy efficiency,” said Timetric’s Mining Intelligence Centre (MIC) lead analyst Clifford Smee.
All information is based on the Timetric report ‘Winning and Retaining Business in the Australian Mining Equipment Sector, 2016.’ For the survey Timetric questioned 100 mine managers, maintenance managers, procurement managers and other key decision-makers currently working in more than 80 Australian mines.
Timetric is a provider of online data, analysis and advisory services on key financial and industry sectors. It provides integrated information services covering risk assessments, forecasts, industry analysis, market intelligence, news and commentary. Timetric’s survey is published under its MIC, which provides critical, forward-looking market intelligence to support clients’ investment strategies and customer targeting.