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Digitally-Driven Supply Chain Management for Oil & Gas Industry

Supply Chain Management for Oil & Gas Industry
Reading Time: 2 minutes

Digitally-Driven Supply Chain Management for Oil & Gas Industry

Oil and gas industry continues to endure from the cutthroat and intense pressure of margins triggering the need for laying emphasis on low-cost and agile supply chain management. Fortunately, advancement in digital and enterprise technology are assisting to make the entire process of accumulating, storing and analysing data a lot more cost-effective and nimble. Make way for digitally powered supply chain management for the oil and gas industry.

With the recent developments in ERP or enterprise resource planning systems, oil and gas companies now stand at the receiving end when it comes to supply chain management and optimisation. Here’s how a modern ERP software can streamline supply chain management for the oil and gas industry:

  1. Seamless integration of huge chunks of data for analysis. Thus, reducing the dependency on spreadsheets, ERP systems simplify the process of accumulating and filtering data required for supply chain optimisation. Modern ERP solutions help oil and gas companies in managing and manipulating immense volumes of data on a repeatable basis and at a faster pace.
  2. Consistent data modelling for improving network performance. Seamless data integration for speeding up the data modelling process. Data modelling can be executed basis of real-time information. Managers can execute data modelling on a weekly or monthly basis.
  3. Excellent insights and analytics to be shared across functions. Gaining better visibility into the inventory along with excellent forecasting paves way for improved sales and operations. Statistical and data-driven results often in the form of charts and graphs can be instantly shared between commercial and supply chain vendors for improved collaboration.
  4. To enjoy optimum potential, oil and gas industry will require special talent to harness the benefits of ERP software along with digital tools. This calls for steep rise in the number of data scientists, data modelling experts, IT consultants and cloud technology experts.

Also on Sage Software Blog: Supply chain management with ERP for pipe industry

Industry leaders thus will be looking out for talents that boast of sound data-modelling skillsets. With new technology, skilled professionals and cross-functional workforce collaboration, companies operating in the oil and gas industry will be in a much better position when it comes to determining ways to serve customers in a more effective way.

For the ignorant, it’s the right time to infuse advanced digital tools into their ERP systems to enhance operations and planning. Analytics driven insights can assist oil and gas industry to curb cost-to-serve and simplify supply chain management whilst at the same time improving customer experience greatly.

To know how a powerful ERP system equipped with digital tools and modules can streamline supply chain management for your oil and gas company, contact us. You can also write to us at sales@sagesoftware.co.in for a free consultation.

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