Verdantis Delivers MMDM For Leading Oil And Gas Company – Part I: Crisis Identification
Being one of the most essential industries across the globe, the Oil and Gas sector is a fundamental contributor to world economy and market. The industry is prone to witnessing constant changes from time-to-time. In order to walk hand-in-hand with or lead the economy, it is essential for the industry to stay updated with changing demands and thus embrace IT and technological advancements as they arrive.
With regards to our customer, the company is a global leader in Oil field equipment and services; offering a wide variety of powerful mechanical components such as land drilling and servicing rigs, handling and lifting of heavy equipment, drill string mechanisms, internal tubular coatings, tubular inspection, as well as providing other major components such as drilling motors, bits and tools.
Through its powerful network of distribution service centres, the company provides supply chain services for major drilling and/ or production activities occurring worldwide. With a revenue of more than $12 Billion and over 800 manufacturing, sales and service centres located in different parts of the world, they aim to answer the diverse needs of its customers in the energy industry through top quality, result oriented solutions.
Driving its major business activities on the basis of market demands and requirements, it is essential to provide services in the shortest possible times, while also maintaining the trust and satisfaction of stakeholders. Major business priorities focussed on business elements such as Reduced Operation Costs, Definite Energy and Asset Efficiency, Improved Corporate Sustainability, Increased Employee Productivity, Enhanced Business Processes, Management of Working Capital and many more.
However, with great aspirations come great hurdles that must be overcome at source. Excess demand resulted in large backlogs, whereas heavy dependence on widespread material bases led to the adoption of more and more technologies. This eventually accumulated into several material and MRO managements problems.
In the words of the Director of Operations, “We have around 250,000 items in our material catalogues across all our locations. Availability of materials and MRO items at the right times, at the right places, at right costs is an essential requirement for successful uninterrupted functioning.”
In the 2nd part of this trilogy, we will provide a brief overview of the major reason behind the problems faced by the company from time-to-time and the steps taken by them to reduce the regular occurrence of these problems. We will also showcase the resulting impact of the new initiatives introduced by them.
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