Unlocking Efficiency in Oil & Gas Operations: A Proactive Action Plan
How oil & gas procurement teams can elevate performance through digital transformation
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4 Ways to Optimize Oil and Gas Operations
May 31, 2023 | Oil and Gas
Efficiency has always been a top priority for leaders in the oil and gas (O&G) sector, especially as oil prices tend to fluctuate.
However, managing vast assets and labor pools spanning numerous facilities and regions makes it difficult to effectively optimize the productivity of O&G operations.
As the global economic uncertainty and recessionary pressures loom, industry leaders must adapt quickly to ensure profits increase as a function of operating costs.
7 Supplier Vetting Best Practices You Should Know About
May 30, 2023 | Risk Management
In an interconnected global marketplace, supplier risk assessment is essential for creating a resilient and risk-proof supply chain.
Supplier performance plays a vital role in an organization’s operations, and any disruption or failure in their performance can have a significant impact on business continuity.
This blog will explore the importance of supplier vetting and outline key steps to effectively identify, evaluate, mitigate supplier-related risks and boost supplier performance.
Global Supply Chains Have Spare Capacity for the First Time in Nearly 3 Years!
May 29, 2023 | Supply Chain Strategy
It has been three years in the waiting. But buyers have finally found some cost headroom.
The capacity of global supply chain now lies underutilized for the first time since June 2020 – the peak of pandemic lockdowns. This spare capacity is a direct result of companies’ continuing to draw down of their inventories and safety stocks given the subdued demand, and high interest rates.
How Technology Helps Foster an Effective Supply Chain Organization Structure
May 16, 2023 | Supply Chain Strategy
Supply chain and procurement technology is essential for achieving an effective organization structure. This blog by GEP explains how.
Supply Chain Vs. Value Chain: Why the Difference Matters
May 09, 2023 | Operations
Supply chain and value chain are two terms often used interchangeably. Though they might sound similar these two concepts are distinct in meaning and function. That said, they need to work in unison to create resilient and powerful supply chains.
What Makes up a Supply Chain?
A supply chain is a network of suppliers, manufacturers, distributors and retailers who are involved in sourcing raw materials, creating a product and selling it to the consumer.
Generally, supply chain involves multiple stages, like:
E-commerce Inventory Management: Why You Can’t Get It Wrong
May 08, 2023 | Inventory Management Software
Inventory management is a crucial aspect of running an online business, as it has a direct impact on customer satisfaction, profitability and overall operational efficiency.
You can’t drive a potential customer away saying you don’t have the product in stock, neither can you have unsold inventory sitting there.
How do supply chain executive strike the right balance between having sufficient stock and avoiding overstocking?
5 Key Elements of an Effective Supplier Quality Management
April 12, 2023 | Supplier Management Strategy
Supply chain leaders know how crucial supplier quality management is for a business’s bottom line, brand reputation, productivity of operations and customer satisfaction. Supplier quality management transcends mere purchasing of good quality products to nurturing relationships with suppliers with mutual respect and trust.
Here are the five key elements of effective supplier quality management:
Your Guide to Supply Chain Maturity Model
April 10, 2023 | Supply Chain Risk Management
Supply chain maturity model allows companies to quantitatively determine their position within the framework of maturity and industry best practices.
In this blog, we will explore the purpose of maturity models, the difference between supply chains and capability supply chain models and the five basic maturity models for supply chains.
Achieving Supply Chain Resilience With Total Inventory Management Solution
April 07, 2023 | Inventory Management Software
Enterprises face a growing list of challenges when it comes to managing rising costs in an inflationary environment, with the risk of recession churning an already-turbulent marketplace. In this situation, businesses must optimize their working capital to preserve the flexibility to adapt to inflation-driven pressures, while enhancing supply chain resilience and efficiency.
