THE ROYAL MINT
SUPPLY CHAIN it is certain it can fulfil it . That means securing the materials that will be needed , an additional challenge , as risk aversion is part of The Royal Mint ’ s ethos . This means that even if there is an opportunity to buy forward at favourable rates it will always relate procurement to orders in hand . The principle is sound : we wouldn ’ t expect a company that is publicly owned to engage in speculative buying in today ’ s fluctuating metal markets , risking spectacular losses . However he can see the principle being tempered by sound procurement practices to some extent as time goes on . Basically precious metals would still be bought at spot prices to lock in cost and pricing of individual orders , but base metals like steel , nickel and copper could be bought further ahead than they are now .
As one would expect , process optimisation is a priority . Planning must be built around constraints in the process , and one that has been identified is in the presses . These are the machines we think of when we talk of ‘ striking ’ a coin or a medal , stamping the head and the tail . “ At present we are able to plate more blanks than the presses can stamp , so we are involved in an exercise to see how we can increase capacity by operating the machines differently and improving efficiency without having to buy more presses .” A good illustration of how the ancient craft of coining throws up exactly the same problems as might face a manufacturer of car parts !
So five years down the line , how does he evaluate the supply chain processes at The Royal
“ At present we are able to plate more blanks than the presses can stamp so we are involved in an exercise to see how we can increase capacity by operating the machines differently and improving efficiency ”
– David Bowles , Supply Chain Director
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