Kalgoorlie, Australia (PressExposure) February 23, 2012 -- A meeting was organized today at the headquarter of Prestige Universal Mining Pumps. The agenda was to capitalize on systems plan that were implemented vehemently during the last year. Prestige Universal Mining Pumps last year installed an advanced OR program into its work facility. It was felt that time was ripe to pass benefit of cost reduction partially to consumers.
When Prestige Universal Mining Pumps partnered with a UK consultancy firm last year to streamline project management operations right from initial reports to mathematical programming that takes into account tens and thousands of variables, there were apprehensions that much of the task would be rather formal in nature that will have little effect on the bottom line of a project. However, senior managers at PUMP were optimistic that such optimization was not just for the sake of optimization, but a part of a scientific approach to problem solving. PUMP invested a huge sum in developing powerful OR capabilities into its work domain despite skepticism from many quarters.
Today, PUMP undertakes each project after carrying on comprehensive testing in its OR lab. Much of the secondary data that are required to carry out research are obtained online through collaboration. According to a project manager at PUMP, free tools like the one that are available on wolfram.com are also utilized heavily at the PUMP research lab.
Today, PUMP saves around 30 percent of cost owing to state-of-the-art OR tools. Most of the projects that PUMP undertakes are related with pump service and submersible pumps. Going forward, it would be interesting to see how Prestige Universal Mining Pumps leverages on data mining which is the next big talk among PUMP professionals today. Closely related with operations research, data mining could help PUMP leverage on online data much more smartly when it comes to marketing research and other patterns related with understanding consumer psychology.