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Tag: Inventory Accuracy

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 […]

From Outer Space to Offshore Oil, 3D Printing Saves The Day

3D Printing: A Solution for Parts Acquisition in Remote Areas?The rig manager shook his head as he looked at the rig’s broken parts list on his computer screen. He’d replaced worn parts all over rigs since he started out as a roughneck, but now it seemed like critical parts were […]

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 […]

Decoding the Advantages of Barcodes

Advancements in technology have made life much easier than it was even five years ago. But many companies have been slow to adopt this technology, usually because it doesn’t fit their core business aims and/or they have had IT issues in the past. The energy industry is one that has […]

Challenges of Doing a Physical Count

 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 for In-Between Well Maintenance during BOP Pressure Testing. Then, due […]