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ASSET MANAGEMENT

Asset Walkdown – Know Your Assets

   When does an asset walkdown typically take place?  One example is the acquisition of a new rig, equipment storage yard, or an industrial facility such as a refinery.  For the benefit of brevity let’s focus on rigs here.  After the deal closes what’s next from an equipment perspective?  You […]

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 […]

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, […]

Challenges of Doing a Physical Count

Is Your Inventory Control System "Rigged" For Success?   John couldn’t believe what he was hearing from his OIM. “We are going on downtime for not having WHAT?” he asked.  Apparently, his company had run out of VX Gaskets (metal gaskets for the wellhead) after the last few were used […]

Free Packaging and Sorting Checklist to Reduce Shipping Costs

Packaging Sorting Checklist Trimming the Fat from Shipping Costs During Christmas, my wife recalled the unique way her father packaged certain gifts. Each child would receive a small gift that was placed inside a box, which was placed in a larger box, which was in turn placed in a larger […]

Lean Process Management

Words of Process Improvement Wisdom During times of financial stress and heightened market volatility, we often hear these words being used in efforts of reducing overhead. Words such as “Lean, efficient, cost control or reductions, and so on.” When the market pendulum swings back from a bull market, we often […]

What Do Materials Coordinators Do?

  What do materials coordinators do vs. what others in oil and gas think they do?   Materials Coordinator= Storekeeper, Offshore Materials Administrator, OMC, Materialsman or similar.

Free Responsibility RACI Matrix

SIMPLY FILL OUT THE FORM BELOW AND GET YOUR FREE Responsibility raci matrix TODAY Our matrix will provide you with the primary inventory management tasks for any drilling-based warehouse and a sample of who should be accountable. To download our free matrix, simply fill out the form below and get […]