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We are proud to have partnered with an independent E&P operator with operations in three major producing basins to generate efficiencies in reducing Lease Operating Expenses and improving the efficiency of both field and financial workflows. The results speak for themselves - an average of 25% reduction in critical service costs across multiple business units, strengthened cash flow, and improved ESG performance and safety profile. To learn more, read the full case study here: https://bit.ly/433hBw3

Learn how Coupa BSM transforms procurement strategies in the oil and gas industry. Our latest article reveals key insights into how Coupa BSM enhances cost efficiency, improves supplier management, and streamlines procurement processes.  Gain valuable knowledge to optimize your procurement strategy and drive better results in your operations: https://lnkd.in/ec6qH3YQ #OilAndGas #Procurement #CoupaBSM #CostEfficiency #SupplierManagement

Learn how Coupa BSM transforms procurement strategies in the oil and gas industry. Our latest article reveals key insights into how Coupa BSM enhances cost efficiency, improves supplier management, and streamlines procurement processes.  Gain valuable knowledge to optimize your procurement strategy and drive better results in your operations: https://lnkd.in/ec6qH3YQ #OilAndGas #Procurement #CoupaBSM #CostEfficiency #SupplierManagement

Procurement is a vital function for organisations, encompassing sourcing, purchasing, and payment for goods and services. Central to procurement is the purchase-to-pay (P2P) process, which spans from requisition to payment. However, the P2P process can become complex and time-consuming due to its multiple stages. This complexity often leads to inefficiencies and bottlenecks, hindering organisational performance. Fortunately, process mining technology offers a solution to these challenges. By analysing and visualising the P2P process, organisations can identify areas for improvement and streamline operations. This optimisation can lead to significant enhancements in efficiency and effectiveness. In this article, we explore how process mining aids in optimising the P2P process. Additionally, we provide three practical tips for leveraging process mining software, such as QPR ProcessAnalyzer, to enhance P2P performance. https://lnkd.in/dxwM4S9t #ProcessAnalysis #ProcessMining

Spend analysis is a critical process that helps organisations track, manage, and optimise their expenditures. For industrial organisations—such as manufacturing, construction, oil & gas, mining, and utilities—where operations involve complex supply chains, high-value equipment, and diverse procurement needs, the role of spend analysis becomes even more important. In our latest article, we'll explore what spend analysis is, its importance for heavy industry, and how organisations can use it to improve their operations. https://lnkd.in/dGD86vZT #AICA #Data #AI #SpendAnalysis #Article #UNSPSC #Education #DataCleansing #DataEnrichment

Logistics and contracts play a crucial role in the oil and gas industry, where complex operations, global supply chains, and regulatory requirements necessitate efficient management of resources, services, and agreements. Here are some key aspects of logistics and contracts in the oil and gas sector: Logistics in Oil and Gas: 1. Supply Chain Management: Logistics in the oil and gas industry involves managing the end-to-end supply chain, including sourcing raw materials, transporting equipment, and delivering products to customers. Effective supply chain management is essential for optimizing operations, reducing costs, and ensuring timely delivery. 2. Inventory Management: Oil and gas companies must maintain adequate inventory levels of equipment, spare parts, and materials to support exploration, production, and distribution activities. Inventory management systems help track inventory levels, forecast demand, and minimize stockouts or excess inventory. 3. Transportation and Distribution: The transportation of oil and gas products involves a range of modes, including pipelines, tankers, trucks, and rail. Logistics professionals coordinate the movement of products from production facilities to refineries, storage terminals, and distribution centers, ensuring efficient and secure transport. 4. Warehousing and Storage: Warehousing and storage facilities are essential for storing equipment, materials, and products in the oil and gas industry. Logistics managers oversee warehouse operations, inventory control, and logistics planning to optimize storage space and ensure timely access to critical assets. Contracts in Oil and Gas: 1. Procurement Contracts: Oil and gas companies enter into procurement contracts with suppliers and vendors to acquire equipment, materials, and services needed for exploration, production, and operations. These contracts outline terms and conditions, pricing, delivery schedules, and quality standards. 2. Service Contracts: Service contracts are used to engage contractors, subcontractors, and service providers for specialized services such as drilling, maintenance, engineering, and construction. These contracts define scope of work, performance metrics, payment terms, and contractual obligations. 3. Joint Venture Agreements: Joint venture agreements are common in the oil and gas industry for partnering with other companies to share risks, costs, and resources in exploration and development projects. These agreements outline the rights, responsibilities, and profit-sharing arrangements between parties. 4. Production Sharing Agreements (PSAs): PSAs are contracts between oil and gas companies and host governments for sharing production revenues from oil and gas projects. These agreements define the terms of exploration, production, revenue sharing, and regulatory compliance in the host country. Effective management of logistics and contracts is essential for the success and profitability of oil and gas operations.

🌟 Maximize Your Procurement Potential with 80:20 Procurement! 🌟 In today’s competitive landscape, achieving procurement excellence is paramount. At 80:20 Procurement, we are dedicated to transforming your procurement process into a strategic advantage. Join industry leaders in the oil and gas sector and beyond, and experience the power of strategic procurement! 📞 Let’s discuss how we can help you achieve your procurement goals! #ProcurementStrategies #StrategicProcurement #SupplyChain #DataAnalytics #CostEfficiency #TailSpendManagement #ProcurementExcellence #8020Procurement

As a Chief Financial Officer (CFO), Maintenance and Operations Manager in a large mining, mineral processing, food and beverage or manufacturing plant: Is constant equipment downtime due to unavailability of critical spares your reality? How many planned work orders get deviated "due to no spares available"? How much time and costs are wasted "looking for the right parts" when maintenance crews are supposed to be executing planned work? At Tau SJV, we can assist with conducting a comprehensive assessment of your spares and inventory; identify improvement opportunities; quantify the value; and collaborate to develop and implement a customised spares and inventory management strategy for your operations context. Several organisations (large and small) do not often realise the value they could unlock through implementing a robust spares and inventory management strategy as part of their overall pro-active maintenance philosophy. This transformation begs the questions: 🎯 Are you facing high inventory costs and frequent equipment downtimes? 🎯 Are you aware of the hidden costs lurking in your spares and inventory management system? 🎯 How much capital is tied up in excess inventory that could be better utilised elsewhere? 🎯 What would a 10-45% reduction in inventory costs mean for your operation's working capital and bottom line? Unlock hidden value and drive gains with Tau SJV's spares and inventory management solution. Let's talk about developing your spares management strategy at info@tausjv.com. #TauSJV #AssetManagement #InventoryOptimisation #UnlockHiddenValue #Mining #Manufacturing #MineralProcessing #MaintenanceMAnager #OperationsManager #CFO

In 2019, we collaborated with a leading construction and mining equipment supplier based in South Africa to streamline their hedging procedures. With our support, Barloworld Equipment (BWE) achieved a significant milestone in the region; implementing fully automated micro-hedging. This cutting-edge system, powered by SAP's Exposure and Hedge Management modules integrated with their SAP Sales & Distribution system, marked a new era of efficiency. But they didn't stop there. Upon successfully automating equipment hedge management, the client aimed to extend this efficiency to their parts business. Recognising that their existing manual bucket hedging method was resulting in excessive manual labour for the treasury unit. The time taken to realise and deploy this revolutionary, fully automated system? Just 4 months. The impact? Groundbreaking: 🔹 Enhanced analytical views, providing unprecedented insights to the CFO. 🔹 Full automation and optimised allocation of FX risk hedges against purchase order exposures, saving the equivalent of two full-time employees' efforts. 🔹 Outperformance on the management of hedge reserves and gains/losses outcomes. 🔹 Additional analytical capabilities to monitor the completeness and accuracy of PO capturing. 🔹 Reduction of over 1.5 working days per month in month-end close procedures. For a detailed dive into BWE's financial transformation journey, including the unique challenges the company sought to overcome, explore their full case study here: https://bit.ly/3kt1UfC #TreasuryManagement #TreasuryExperts #FinanceTransformation #HedgingStrategies #SAPIntegration #FinancialAnalytics #BusinessEfficiency