RigServ Moves to Cloud ERP with Acumatica
RigServ, a multinational company headquartered in Houston, Texas and a digital transformation champion, announced the move to a cloud-based ERP system with Acumatica on January 3, 2023. The strategic decision to leverage Acumatica provided numerous advantages to the company which has offices across the globe. These benefits include business efficiency, visibility, and resiliency. Chris Kadavil, Co-CEO and…
How to Implement and Manage Consignment Inventory to Boost Your Rig’s Efficiency and Operational Effectiveness
Effective warehouse inventory management is key to making a profit with your rig operations. In many cases, having a consignment inventory is a practical solution to any challenges you might have with an inventory. Let’s explore the benefits of consignment inventory, some things that prevent the oil and gas industry from implementing it on a…
Interview with Rig-Serv’s BDR – Aboyi Olokpo
Most of us chase security and comfort for most of our lives. That applies to both work and personal lives. Moving to a different country, and changing jobs or career paths, seem like risky moves reserved for the “risk-tolerant types’.Well, below, you’re going to read a conversation with someone who’s not a thrill-seeker and yet…
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Oil and Gas ERP Selection: 6 Things To Look For
Although there’s no shortage of ERP systems available on the market, only a select few have been designed specifically for the Oil and gas industry. Some ERPs (Enterprise Resource Planning) are geared toward small businesses, while others are designed for large enterprises. There are also industry-specific ERP solutions tailored to meet the unique needs of…
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Inventory Accuracy in the Oil & Gas Industry: 10 Things You Should Be Doing
If you want to cut costs (and with a recession on the horizon, it’s probably a good idea), then inventory management is the right place to start. Your ticket to success in this area is to maintain inventory accuracy. For that, you need processes for digging out the root causes of variances and ways of…
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Interview with Chris Kadavil, Co-Founder
The level of complexity involved when dealing with the ERP space requires a kind of obsession with puzzles. An obsession that starts with the founders and spreads into the whole company culture. As Peter Thiel puts it: “No company has a culture. Every company is a culture.“ If every company is a culture, then the…
RigServ Opens “Global Resource Centre” in Sri Lanka
The leadership team at RigServ decided to expand to another international location to deepen our IFS talent pool and serve our global ERP clients even better. After a year of work, we are proud to announce that we have opened the Global Resource Centre in Colombo, Sri Lanka. At the grand opening event in February, Chris and…
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5 Ridiculously Expensive Mistakes Companies Make When Upgrading Their ERP; and how to avoid them.
Over the past 20-years, I’ve implemented industrial technologies (databases, ERP’s, asset management solutions, etc…) in 87 countries. In the beginning, even multi-billion dollar operations were still struggling with DOS-style interfaces and manual integration teams. Thankfully, technology has gotten better, integrations have grown tighter, interfaces have become easier, etc… However, the ease of use has lulled tech leaders…
We are Hiring a Materials Coordinator (Inventory Count Team Member)
Materials Coordinator (Inventory Count Team Member) Why Work Here? “Teamwork, Recognition, Global Operations, Unlimited Growth Potential” We are looking for several Onshore and Offshore Materials Coordinators. Learn more about the position below. REPORTS TO: Supply Chain Project Manager DEPARTMENT: Supply Chain REQUIREMENTS: You must be authorized to work in the US.>3 years of materials management experience.ERP and…
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Now Hiring IFS Experts in Sri Lanka
IFS Experts Needed We are Expanding our offices to Sri Lanka and Europe! RigServ was founded in 2014 in Houston, Texas, USA, by operational and technical leaders. Fundamentally, our goal is to assist customers and solve complex business challenges in a cost-effective manner. In the beginning, we started with just a handful of supply chain, asset…
RFID Technology and the Management of Spare Parts Inventory
Why Inventory Accuracy Matters. An Examination of How RFID Technology Improves the Management of Spare Parts Inventory The Business Problem In this article, we examine how RFID technology is a solution that has revolutionized the spare parts logistics market by eliminating or reducing the need for cumbersome manual inventory tracking processes. The latter is characterized…
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Digital Twin, Predictive Maintenance
Digital Twins in Action; An Analysis of Predictive Maintenance Introduction: Thanks to precise, granular sensor data, artificial intelligence, high-performance computing platforms, and tailor-made digitalization strategies, the digital twin system is emerging as an extremely useful tool. A practical, economical, and strategic solution helps create order for business-critical workloads. This is particularly true in the realms of…
Too Much is NOT a Problem
You can’t have too much inventory…Ask our Maintenance staff An executive at a large energy company recently told me this when discussing inventory at their organization. This discussion was the first in an engagement to help them improve the inventory mix and outcomes across the enterprise. The director said they have differing stocking procedures for…
The Story of RigServ: From Humble Beginnings To Your Trusted Supply Chain and Asset Management Experts!
Count On RigServ To Optimize Your Operations RigServ was founded in 2014 by our team of operational and technical leaders in Houston, TX, starting with a vision to improve supply chain operations for capital-intensive companies. We started from humble beginnings in a cramped office with significantly fewer resources than we have now. Our greatest resource…
There’s Gold Under Those Deck Plates
How Complicated Procedures Cause Unwanted Actions and Cost You Money How much? Over $300,000 just hidden under those deck plates? Why? WT*? Not long ago, on a visit to a rig as part of a global inventory assessment and strategy engagement for an international drilling contractor, I discovered a gold mine. During a tour through the inventory…
Streamline Your Distribution Operations Today for Better Results Tomorrow
Our Simplified Shipping and Receiving Process Integrates Technology Into The Right Places We’ve made it our business to ensure technology works for your benefit using innovative operational intelligence analytics combined with proven space-saving techniques to streamline your distribution operations. When technology is on your side and integrated into the right places the possibilities are endless. …
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Here’s Why You Can Trust RigServ’s Master Data Cleanse and Enrichment Services to Streamline Your Supply Chain Operations
We Use The Latest MDM Concepts To Help Your Teams Verify and Collect Data Efficiently Our approach to master data cleanse and enrichment starts by understanding the intricacies of your existing supply chain efforts. We value the opportunity to help your team work smarter, remove the guesswork from your projects, and integrate the latest data collection tools…
RigServ: Setting The Standard In Global Supply Chain & Asset Management
The Core Values We Uphold Reflect Our Unwavering Commitment To Understanding Your Business At Rigserv we’ve made it our business to understand yours. We provide long-term solutions to help your team design, develop, and execute strategies to successful completion. Our unwavering commitment to the core values we uphold enables our team to help businesses overcome supply…
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Inventory Criticality – What Are Your Critical Spares?
Inventory Criticality? “It was early Saturday morning, when Joe got the call from the rig telling him the upper annular had failed a pressure test and that they would need to disassemble it to see what the problem was. Joe called his boss Tom, the Rig Manager and explained the current status was and then…
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Who Drives Asset Management in Your Company and What is Asset Management?
I Was in the Dark Remember the adage, “If everyone is responsible, then no one is responsible.” I spent the first six years of my career as an Army Officer in charge of soldiers and facilities that perform equipment (trucks, generators, missile launchers) repair. I later worked in the civilian world as a robotics Project…
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Differences between such as LoRaWAN, RFID, or how they work together (Asset Tracking)
When it comes to oil and gas, LoRaWAN (Long Range Wide Area Network) is quickly drawing the attention of companies around the globe, especially for asset tracking. This technology is allowing companies to deploy their own private networks with ease. Not only does this enhance their ability to monitor their assets, but also prevent intrusion.…
The Short Guide to Asset Verifications During M&A
When you merge with or acquire a company, you are taking on an entire portfolio of assets. From real estate to equipment, proprietary knowledge to product designs, each asset needs to be identified and valued during mergers and acquisitions. This process is called Asset Verification or an Asset Walk Down. Most industrial companies make capital…
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What is Asset Management?
Definition by Example Most industrial companies make capital equipment purchases on a regular basis. Much care is taken to ensure the equipment item is fit-for-purpose, competitively priced, and properly accounted for in terms of how the budgeting for funds to purchase (and possibly finance) the equipment is managed. But, what happens next? Typically, the equipment…
How Can LoRaWAN Be Used to Track Assets In O&G?
Since we first formed our company, we have seen many changes in terms of developing technology. Although the evolution of technology has drastically changed (and improved) a wide range of industries, the oil and gas industry has benefited immensely. By investing in digital technologies, large oil and gas companies are able to better predict potential…
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How Smart Contracts Can Help Improve Your Oil and Gas Business
Blockchain as a technology has the power to change the way business works. It offers a distributed ledger that makes transactions transparent by recording every action with regard to a specific asset. While it is still anonymous, the basic idea is that if everyone can see a transaction has taken place, there is no need…
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Why Would My Company Need Blockchain? Is it a distributed ledger or digital currency?
Blockchain may be the newest buzzword, but that doesn’t mean it is all hype. The technology has the potential to put supply chains in the oil and gas industry on their heads, but of course, that’s all in theory. One of the frequent questions we hear at RigServ is why should a company in this industry…
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 a drilling rig or plant is…
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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. Blockchain Is the Future “We…
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Enterprise Asset Management System – You Got This?
What can strategically integrated Enterprise Asset Management (EAM) software do for your company? Do you have physical assets, capital equipment, maintenance procedures, spare parts inventory, and equipment certifications? How does your company manage these diverse operational areas? If your company is like most others, there is no central repository of information, system integration, and, candidly…
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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 will want to confirm what you…
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 in the following situations:…
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True Costs of Physical Count Errors in the Energy Industry
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. Yet, most of them lack the processes in place to manage physical…
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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 found that AR is superior…
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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 payable process users, vendors and…
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 Masters of Information Systems from…
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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 was thinking about some…
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