Oil and Gas
The strategic importance of sourcing, procurement and supply management has risen manifold with challenges encompassing
- Needs for a reliable knowledge and analytics ecosystems to handle vast quantities and scopes of capital project data.
- Multiple risk factors related to workforce scarcity, stakeholder community, cyber-security, regional regulatory stringency and variability and global price volatility.
- Increasing requirements for speed, agility and precision as energy companies compete to extract profits and advantage from the plethora of industry innovation opportunities now underway
How We Can Help
- Use our artificial-intelligence powered SPEND ANALYSIS solution to create up-to-date, granular visibility into all categories of spending worldwide and to manage spending in context of global commodity market-price movements.
- Use STRATEGIC SOURCING to dramatically accelerate complex sourcing and supply network design initiatives. The solution facilitates extensive cross-functional, cross-regional collaboration across all sourcing stages (from requirements definition through reward) and can handle entire spectrum from simple categories to sourcing initiatives comprising tens of thousands of line items.
- Use CONTRACT MANAGEMENT to rapidly build, negotiate and execute creative contracts, containing all necessary terms related to safety regulation, policy compliance and risk avoidance. Effectively manage dynamic pricing and location terms across complete contract lifecycles.
- Use SUPPLIER MANAGEMENT to expand and accelerate supplier discovery and on boarding and to manage critical supplier audit, certification and safety credentials. Model custom KPIs and KPI-weighting systems to optimize ongoing supply-risk assessment & mitigation and supplier performance management & development activities consistently and systematically across multiple geographies.
- Use FINANCIAL SAVINGS MANAGEMENT to align procurement with both bottom- and top-line business performance objectives and to document and demonstrate how sourcing, procurement and supply management is helping the enterprise to win the great innovation race currently underway in global energy markets.
- Use PROCURE-TO-PAY to streamline and speed up requisition and purchase order workflows, free internal talent to focus on supporting key innovation initiatives and to monitor and drive compliance to preferred supplier contracts, terms and conditions