What is supply chain management?

The planning and administration of acquisitions, conversion, and logistics management operations are all part of supply chain management. It also handles with the coordination of all parties (from suppliers to customers). It deals with demand management inside a corporation in this manner.

What steps can we take to identify and reduce waste in our supply chain strategy?

The first step is to examine existing processes and determine where waste is still an issue. You may, for example, compare the things you buy to your outcome to prevent expenditures. Talking to relevant managers or operators or solicit further feedback from customers or service suppliers.

What is a global supply chain?

Global supply chains are networks that cross continents and nations to source and distribute goods and services. The mobility of information and resources is one of the most important foundations.

Where do risks exist in supply chain management?

Internal risks (those under your control) and external risks (those that are beyond your control) coexist. In this regard, the following sorts of dangers are identified: Financial hazards Poor planning Regulations Environmental Socio-political Human behaviour

What is procurement in the supply chain?

One of the various branches of the supply chain is procurement. It serves as a structure for a firm to efficiently carry out all of its daily activities, monitoring the outcomes and assessing how the items that will be provided to the clients are made.

What factors contribute to the success of a supply chain?

A good supply chain must have three components: flexibility, data, and long-term planning. In this regard, some of the aspects that impact its correct operation are as follows: Maintain your adaptability. Trust data and technology Plan for the future Remember who is your end customer

What are the benefits of supply chain management?

In a nutshell, it facilitates and improves the movement of products, information, and commerce. Companies benefit from an optimised and efficient business, building better ties with partners and customers.

Why is supply chain planning so important?

Planning in the supply chain helps to simplify operations, enhance productivity, eliminate wasteful spending, and build stronger client relationships. Planning, when done effectively, may assist decrease costs associated with purchasing, manufacturing, inventory management, and transportation.

How can we gain a better understanding of our supply chain costs?

Data analysis is an excellent tool for anticipating and determining where we need to improve. For example, it assists us in optimising warehousing and storage, which is essential in a bigger supply chain strategy. This allows us to optimise space, decrease damage, reduce packing, and do a variety of other things.

What obstacles do organisations experience when attempting to improve SCM?

The supply chain is a difficult process in and of itself, and adding innovations is a problem for businesses. It's critical to move fast and to balance rising customer demand with competitive pricing. In this regard, procurement may also assist to determine whether parts of the supply chain are not competitive or to set more ambitious goals.

Supply Chain and Procurement Strategies for Oil and Gas Industry

Oil and Gas Procurement Strategies

Getting oil and gas procurement right is more important than it’s ever been, as global volatility places unforseen pressures on the cost of extracting and shipping oil and gas and the price achieved when selling. Oil and gas procurement services can play a huge role in cutting costs through a process of enhanced efficiencies. Procurement strategies in supply chain management focus on pulling all parts of the supply chain together under a centralised control system. In this way components and services from a range of suppliers can be tracked on overview rather than being ordered in silo and passed along the supply chain within the business.

Supply Chain Strategic Planning

The effective delivery of strategic sourcing in supply chain management depends on ending the fragmentation of the supplier base, and ensuring that each supplier is equally reliable. of the same standard when it comes to reliability. The oil and gas sector relies, to a greater degree than most other sectors, on a complicated range of suppliers, and the whole procurement system is only ever as strong as the weakest link.

In other words, there’s no overall benefit to your biggest supplier being extremely efficient and reliable if another much smaller supplier is prone to letting you down. The lack of quality from the smaller supplier is likely to cause as much disruption as it would in a larger supplier, in as much as any break in the supply chain can bring procurement grinding to a halt. The old cliché about a chain only being as strong as its weakest link has become a cliché because it contains a large element of truth, and a supply chain sourcing strategy will ensure that every link in the chain is as strong as every other.

Developing A Supply Chain Strategy

One of the ways of securing value across the supply chain is to look for suppliers offering a range of components and services. Integrating suppliers in this way opens up economies of scale, as a single supplier can be tasked with supplying an extremely wide range of items across an entire project. A company which specialises in oil and gas procurement strategies can achieve the same kind of results while working with multiple suppliers, thanks to the fact that the suppliers in question are all being accessed via the procurement company. In this way the supply chain for an oil and gas company is hugely simplified, with just the one point of contact, and one communications cannel for everything from invoices and orders to enquiries, complaints and payments.

The advantages of working with an oil and gas procurement specialist include:

• Strengthened Supply Chain

• Concentration on Reliable Suppliers Offering Value

• Centralised Control of Supplies Across a Project or Multiple Projects

• Long Term Relationships with Suppliers

• One Point of Contact for All Procurement Issues

• A Balanced and Strategic Approach to Procurement, Combining Short Term Value with Long Term Stability

Why Choose Refteck Solutions for Oil and Gas Procurement and Supply Chain Management

A company which specialises in oil and gas procurement strategies like Refteck Solutions can make a promise like that because procurement is at the heart of everything we do. We develop long term relationships with the kind of supplier’s oil and gas companies rely upon, and use those relationships to engage in in-depth analysis.

The result of that analysis is a profile of the strengths and weaknesses of each supplier, paying particular regard to the price point that supplier is hitting. By balancing short term budgetary demands (i.e. wanting the best price here and now) with longer term strategic planning (i.e. delivering projects with maximum efficiency) we can select suppliers perfectly suited to the company, the individual project, and the wider market conditions at the time.

Contact us today to learn how our strategies will transform your business from the start.