In recent years, players operating in the oil and gas industry have been forced to compromise on operating costs to sustain their foothold in the industry due to the recent drop in oil prices and gas prices globally. Moreover, the high cost involved in the procurement and sourcing of oil and gas products is hampering the growth of this industry. Consequently, firms holding a niche position in the oil and gas industry space have started leveraging the use of sourcing analysis solutions to streamline their procurement and sourcing process across the supply chain.
With years of experience in offering a plethora of sourcing analysis solutions, SpendEdge also helps oil and gas industry players cut down the turnaround time for their procurement processes.
The Procurement Pain Point and Insights Offered
A global oil and gas industry client was facing predicaments in devising a robust resource deployment model to boost the productivity of their internal operations. Furthermore, the client wanted to achieve a superior competence and effectiveness through standardization and centralization of their sourcing and procurement process across the supply chain.
The sourcing analysis experts at SpendEdge tailored an integrated research methodology, which included primary and secondary research coupled with qualitative and quantitative data collection methods to cater to the specific business requirements and help the client streamline their sourcing and procurement processes.
During the course of this sourcing analysis engagement, the oil and gas industry client was able to reduce their maverick spends and achieve significant cost savings across the supply chain by devising a standardized and centralized procurement and sourcing process.
Fundamental questions answered in this sourcing analysis engagement include
The sourcing analysis engagement helped the oil and gas industry client identify the low and best cost country locations for their procurement and sourcing process. The client was also recommended with tools to identify and leverage opportunities for superior sourcing.