Overcoming Challenges in Consumables Management and Procurement: A Case Study on Integrated Oilfield Completions
This case study highlights the challenges faced by an oilfield completions company in managing consumables, dealing with stock-outs, freight issues, rogue spend, and overstocking. The solutions implemented included vending, vendor-managed inventory (VMI), in-plant services, supplier consolidation, and a hydraulics program, resulting in an estimated cost savings of $332,167 in the first year
