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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…

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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.…

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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…

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Is It Time You Implemented Consignment Inventory Management ?
Inventory Concept. Word on Folder Register of Card Index. Selective Focus.

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…

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Why Should an Energy Company Consider BPO for Supply Chain Functions?

In today's environment of low commodity prices and reduced earnings, oil and gas companies need to be more innovative than ever in optimizing the efficiency of their supply chains. Unfortunately,…

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Oil and Gas ERP’s – Will One Size Fit All? (Oil ERP)

ERP Oil and Gas ERPs - Will One Size Fit All? When the term “ERP” is used, many flavors and functionalities come to mind. Unlike an organization like The American…

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Improve Inventory Accuracy In The O&G Industry -10 Tips

    In today’s economic climate, most leaders recognize that effective inventory management will result in significant cost savings and is a barometer of corporate health. A key component is…

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