2024
Procurement and Supply Chain Management in the Oil & Gas Industry
To keep up with the ever-changing landscape of global energy markets, Oil & Gas companies must remain proactive and mindful when it comes to maintaining profitability and ensuring regulatory compliance. Cost efficiency is key as procurement and supply chain leaders strive to manage spend amid volatile market conditions and a complex compliance landscape.
Manage Spending Effectively, Drive Operational Efficiencies, and Improve Supplier Quality and Performance
Implementing efficient and streamlined sourcing, procurement, and supplier management processes along with improving the effectiveness of supplier collaboration is crucial to containing costs, reducing supply chain risk, and improving overall supplier performance.
Ensure Supply Chain Visibility and Management
- Simple and quick supplier self-registration, qualification, and onboarding
- Collect and validate information including certifications, qualifications, and financials
- Suppliers have complete profile, information, and transaction management capabilities
- Structured and stringent review of supplier and sub-tier supplier risk including safety practices
Improve Cost Performance
- One platform to manage all spend: Direct, CapEx, Indirect, MRO and Services
- Supplier selection & analysis capabilities with target price & cost modeling
- Define, manage, and collaborate on simple to complex sourcing projects
- Seamlessly capture terms, service level agreements, and pricing with Contract Management
- Leverage category management for 360° visibility and strategic planning
Automate and Implement Agile Processes
- Efficient supply workflows to comply with stringent requirements and extended supply chain
- Enable suppliers to take early payments for discounts to ensure fiscal viability
- Reduce costly manual processes through automated PO and invoices
Ensure Reliable Source of Supply
- Improve collaboration and transparency with suppliers
- Ensure material availability, plan accordingly, and secure your supply chain needs
- Utilize forecast functionalities to collaborate and give visibility into planned expenditures
- Manage Asset and Tooling budgets and lifecycles collaboratively with suppliers
We chose the Ivalua solution because of the breadth of its functional footprint and its modularity. In addition, users from the pilot program particularly appreciated the ease of use and intuitive design of Ivalua. Veolia uses the Ivalua platform to meet the reporting needs of the executive management team, while better-serving our Procurement community. Ivalua helps us to enhance the automation of data exchange and to share purchasing repositories and data in a user-friendly tool.
Benjamin HULOT
VP Purchasing Performance
Veolia
THE ANALYSTS AGREE – IVALUA IS A LEADER
Related Resources
Customer Story
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Customer Story
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Datasheet
Effective Supplier Management to power Procurement Processes, Establish Resiliency, and Drive Innovation