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Business Intelligence

When Should I Perform a Physical Inventory Count (Stocktake)?

One question we are asked repeatedly is when should I perform a physical inventory count also known as a stocktake. There are several circumstances that call for a physical inventory count and it is recommended that each company documents these requirements to ensure they are followed consistently.   1. When […]

When Blockchain Meets Supply Chain in Oil and Gas

Blockchain is revolutionizing the way people pay for goods and services all around the world, but it is also impacting companies. From placing a purchase order to the delivery of goods, and documentation to payments, blockchain is the newest part of the procurement of goods and services for the energy industry. […]

How Mobile Printing Streamlines Rig Supply Chain & Warehouse Processes

To survive and thrive, the oil and gas industry must work more efficiently than ever, especially in a low-crude price environment. To make the supply chain more streamlined, I see many rig owners trying to operate with a lower headcount but not using technological advances to make the tasks easier for […]

Data

The Top 10 Challenges When Cleaning and Converting Master Data

Dirty data is a big problem—and too many companies don’t know how to handle it. According to a 2013 Gartner study, 20 percent of the information inside a database is of poor quality, and it’s costing organizations an average of more than $14 million every year.Data cleaning is a challenging issue […]

True Costs of Physical Count Errors in the Energy Industry

The True Costs of Physical Count Errors Inventory counting may not be the most exciting topic, but it is a critical one – especially in the oil and gas industry. Many companies in the space have hundreds of millions of dollars’ worth of spare parts in their inventories at a given time. […]

Augmented Reality Glass

Augmented Reality: For the Oil and Gas Industry, It’s Not a Mirage

Augmented reality is defined as a technology that superimposes a computer-generated image on a user’s view of the real world, thus providing a composite view. Augmented reality, or AR, is finding a place in a variety of fields, not the least of which is in the military. Tests conducted for the military have […]

Angry man in bed with phone

Waiting, waiting….It’s been a week and still waiting and I am still waiting. The value of Value Stream Mapping

I was recently a part of a Value Stream Mapping project for a company. During my discussions with process owners, one of the main complaints was time. More specifically, time to close out certain business activities. From purchase order creation, approval for expenditures, item master/material number creation through the accounts […]

Welcome Kadri Akyurt to RigServ as IFS Principal Lead

We are very pleased to announce that Kadri Akyurt joined RigServ as an IFS Principal Lead on August 1st. Kadri brings 12 years of comprehensive IFS Distribution, EAM and PM experience as well as several years as a Managing Partner of another IFS Partner company. He has also earned a […]

Things to Consider When Conducting Year-End Physical Counts

We’ve looked at ways to improve inventory accuracy for oil and gas projects, such as increasing transaction discipline, labeling items clearly and using the latest technology. Yet inventory control is a constant challenge. There are many parts involved, and each one is important. Tracking each part is critical to rig success. Recently, […]

Is It Time You Implemented Consignment Inventory Management ?

Effective inventory management is critical to the profitable rig operations. In many cases, consignment inventory is a practical solution to inventory challenges. Let’s look at the benefits of consignment inventory as well as some things that tend to stand in the way of exploring this option. Typical consignment inventory agreements allow […]