The dry bulk industry has traditionally been hesitant in adopting advances in technology and the traditional practices have at times exposed significant financial losses over the years. In recent times however, corporations have started embarking on large scale operational transformations which have introduced some complexities which make it difficult to accurately match stock on the floor with the financial records. Key concerns that emerge are:
- How accurately does the stock survey method account for the stock on the floor?
- What is the impact of stock survey technology that is incorrectly calibrated?
- Does the stock survey method get the same reading whether stock is wet or dry?
- Can the client verify the readings produced by the stock survey technology?
- With surveys done periodically how can we get an accurate real-time stock level?
We, at Qnum Analytics, have been working to create an innovative way of achieving continuous reconciliation by tracking stock balances at a transaction level. Our way ensures that the control environment aligns with all audit protocols and ensures real-time visibility which empowers the stock planning for improved customer service and operational efficiency. We are a cross-functional team of data scientists and industrial engineers committed to bringing control and simplicity to the management of bulk stock.
Qnum Analytics was incorporated on February 22, 2018 while the founders have been working on the product since April 2016, aiming to bring about a fundamental disruption in the manner in which stock is being managed in the manufacturing and distribution sectors. The team identified an opportunity to develop a solution that would bridge the integration gap between financial records and the stock measurement techniques by tracking stock transactions in terms of mass and the audit equivalents. That was the pivot to becoming an data-science powered SaaS provider bringing about major cost savings for bulk stock producers.