There is a very large ecosystem of supporting parties in the oil and energy industry including International oil and gas companies, National oil and gas companies, drillers, engineering companies, procurement companies and construction. In this episode we will talk about Supply Chain challenges these parties are facing and the associated trends.
In times where there is constant pressure of professionalism in the work environment, it is evident that people have forgotten the importance of building a personal relationship with their customer.
The implementation of LEAN tools and principles is becoming a standard practice driving customer satisfaction and efficiency for all businesses. It is imperative that businesses who choose to adopt and invest in a LEAN program go all in, there is no dipping your toe in the water with this type of initiative. LEAN must be taught, discussed, implemented and sustained at all levels of the organization.
Gartner released a Women in Supply Chain Survey in partnership with AWESOME (achieving women’s excellence in supply chain operations, management, and education) in 2018 that showed sustained representation of women in the senior-most ranks of supply chain organizations. The survey also shows supply chain leaders leading initiatives to attract, retain and advance women.
For consumers e-commerce is increasingly the preferred method for shopping. Younger shoppers already embrace it and more frequently older shoppers are as well. As e-commerce continues to grow, companies need to adjust their approaches in order to win customer loyalty. According to Nasdaq, by 2040, 95% of purchases will be facilitated through e-commerce. Winning this race depends on how quickly you can scale your offerings including customer service, delivery and the returns process. Customers continue to adopt a “get it now” mindset which must be embraced by retailers.
If you ask a company what room for error their company has, the answer is almost always zero. It´s no different with logistics.
For companies, “time is money” and this is certain for oil and energy companies who have scheduled jobs to complete on certain dates according to extraction cycles. These cycles require alignment with specialized personnel in restricted areas, if the material does not arrive when the personnel is scheduled to work, there is nothing to do, wasting resources and valuable time. This scenario stresses the importance of material readiness and in transit visibility in real time, as it facilitates information on when they will receive the material. In the oil and energy business exists a sanction called “non-productive time” (NPT) and it means that when a segment or a job is not started or completed on time, the oil and energy company economically penalizes the party which caused it.
Why White Glove?
What is the digitization of freight? Will it be a disruptive force in the industry or a transformational one? Listen to our VP of Business Development, Brian Reed speak about the actions companies should take to prepare for the digital transformation of freight.