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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 […]

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 […]

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. […]

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, I […]

OTC 2017 RigServ

Demos & Golf (OTC 2017)Join us at the offshore energy industry’s premier, global event. We will be at booth 1361 with our JV Partner Zentech Inc.Please join us at OTC 2017 for demos that will show you how to make the most of your data and save money from day one of […]

Automating MRO Warehouses- Domo Arigato Mr. Roboto

Automating MRO WarehousesMaintenance, repair and operations (MRO) decisions reach far beyond repair and maintenance processes. Optimizing MRO involves refining procurement and sourcing methods to get the most out of budgets spent on services, supplies and tools. In some cases, MRO represents 40 to 45 percent of operating expenditures. Here are five rising […]

Disrupt And Conquer: How Disruption Is Needed Now In The Energy Industry Supply Chain

Disruption in Oil and Gas Supply Chains: A Necessary InterventionOver the past few years, many oil and gas companies have gone from successful to lackluster. Steeply dropping crude prices played a role in this downturn–in June of 2015, oil prices hit a six-year low, forcing many businesses in the industry […]

Inventory Accuracy Measures to Ensure Uptime with the Lowest Investment

Inventory Accuracy MeasuresRecently a client contacted us to help them determine true inventory accuracy at their company. They stated that every month their rigs and managers reported accuracy levels between 98-100% (0-2% variance), but they now were experiencing downtime on one rig for a $40 critical part that was supposed […]

Business Intelligence Considerations- Magnum BI

In today’s world, access to seamless, accurate, and timely information is key to developing and maintaining competitive advantages; business entities who have not yet implemented data-driven decision-making processes are finding themselves further and further behind their competitors who have. An integral part of the data-driven approach is the implementation and […]

Free In Between Well Checklist for Drilling Rigs

In Between Well ChecklistBefore embarking on a vacation, careful planning is done to ensure the time away goes as planned. Leaving things to chance can lead to undesirable consequences and a not-so-pleasant hiatus from work.Starting a job or a project is no different. Careful planning must be done prior to […]