E&P Supply Chain and Oilfield Services – The Benefits of Using an Integrated Supply Chain Provider

ByPurity Kratom

A company that deals with the development of energy resources, such as oil and gas, requires suppliers that can help them get the job done. Suppose your company needs to supply equipment, materials, or services to this type of client. In that case, you’ll want to do more than making a sale – you’ll want to form a lasting partnership with them. 

At E&P Supply Chain and Oilfield Services, we work hard to earn our clients’ loyalty through quality service and products, which will pay off with repeat orders and referrals to other clients in the future.

Main benefits of E&P Supply Chain and Oilfield Services

E&P Supply Chain and Oilfield Services integrate operations from suppliers to contractors, including producers, pipeline operators, drilling companies, shipping firms, warehouse providers, and terminal operators in energy supply chains with improved efficiencies across: 

  • Field supplies & logistics
  • Safety & security
  • Engineering & design
  • Procurement & sourcing
  • Supply chain management
  • Inventory control process 
  • Optimization & material handling distribution 
  • Transportation (intermodal / rail / trucking / port services)
  • Sustainability performance reporting 
  • Operating margins. 

The benefits are in right now when E&P companies take a fresh look at their strategies. Be sure to get integrated program solutions that are ideally suited for your enterprise.

  • Minimizes risks

A properly running supply chain is not a hindrance to your operations but a service provider that can streamline processes and reduce risks associated with downstream or upstream activities. Working with a supplier specializing in both E&P supply chain and oilfield services helps ensure best practices across both, creating maximum value for your business. 

For example, you may use parts suppliers to meet production demands. Still, you could get discounts when ordering large volumes or free training by having them on board earlier. On top of that, manufacturers require documentation just like any other resource involved in your project. Providing these documents will enable suppliers to have all relevant information before their arrival.

  • Increases efficiency 

E&P supply chain and oilfield services provide a number of different benefits to all parties involved. As stated above, one such benefit is increased efficiency, as there is less time spent searching for parts and supplies. Another major benefit to using an integrated supply chain provider is their ability to oversee purchasing activities and negotiate price reductions with vendors. 

This means that you can also take advantage of reduced prices for products. Not only will you get more for your money, but you’ll spend less time worrying about finding all necessary components at competitive prices.

  • Improves cash flow

Your supply chain organization can reduce operating costs, but it can also help improve your cash flow. By taking a close look at your costs for energy, supply purchases, transportation, materials handling equipment, and other key expenses, you can identify ways to streamline these areas and move toward a more integrated system that ultimately makes better use of company resources. 

Then you’ll be able to quickly respond to changing customer demands with minimal investment in new technology or additional manpower.

You’ll also see improved sales forecasting because your inventory will be optimized based on actual demand rather than expected demand. This is beneficial to customers (who won’t over-order) and your business (which doesn’t waste money purchasing materials it doesn’t need).

  • Improve Safety

By choosing an integrated supply chain partner, you’ll reduce your company’s supply chain risk by increasing your ability to anticipate future needs. Suppose a storm hits unexpectedly, for example. In that case, it can be incredibly helpful to know that you have access to additional supplies. 

And suppose there are other opportunities to cut costs or increase efficiency. In that case, you’ll also have access to professional suppliers who can provide advice on all aspects of your integrated supply chain. That will help increase safety while decreasing costs—which is exactly what every energy company wants!

  • Improve Employee Morale

One huge benefit to using an integrated service provider is their ability to help improve employee morale. After all, if you’re a company that needs help with your logistics, it can be not easy to find time to focus on other aspects of your business. 

By outsourcing that part of your operation, you free up resources so you can focus on other parts of your business that need attention. In fact, according to one survey, providing incentives for high-performing employees improves employee satisfaction and boosts productivity by 37 percent. 

When you provide them with something interesting like an energetic training session, they’ll easily accept new challenges because they want another chance to learn something new.

  • Improve Corporate Image in the Community

If your E&P Supply Chain and Oilfield Services company wants to build its brand in a community, look no further than local schools. New Tools for Building Effective Giving Strategies for Your Business, corporate donations can help improve your image and boost employee morale and make stronger ties with customers. 

In some cases, partnerships can also lead to new business relationships. They can also access new market opportunities that you wouldn’t have been able to do on your own previously.

  • Streamlines supply chain management processes 

Working with multiple vendors can be frustrating for any business, particularly in a complex industry like oil and gas. Yet, as smaller companies merge with larger ones, their supply chains are typically consolidated into single platforms, making it even more important to consolidate supply chain management processes.

E&P Supply Chain and Oilfield Services providers work with clients to design custom solutions that help them avoid costly delays through careful evaluation of options prior to contract signing.

  • Reduce Inventory Cost

You reduce your inventory costs when using a single provider for your E&P supply chain and oilfield services. Simply put, there is less money tied up in things that are not needed at any given time.

Additionally, you can avoid potential miscommunication or mistakes between multiple vendors when making orders or deliveries with single-source providers. It’s a win-win situation to work with only one provider; it reduces costs while reducing mistakes along the way.

  • Reduce Cycle Time

When companies fail to identify where their supply chain issues lie, they can cost valuable time, money, and productivity. In fact, a study conducted by Deloitte found that more than $600 billion in potential profits were lost due to supply chain inefficiencies alone in 2021. 

By outsourcing its supply chain management services to qualified experts like Prismecs, E&P Supply Chain Solutions saves two weeks and one month per shipment. This equates to significant savings multiplied by dozens or even hundreds of shipments throughout the year.

Conclusion

If you’re still in disbelief as to how integral a comprehensive supply chain program is to your enterprise, ask yourself how crucial it is for your customer to access vital supplies at any time. Time means money, which can make or break companies on all ends of an integrated supply chain program. 

For these reasons alone, you must outsource such responsibilities to a professional team with years of experience in such matters. As such, turn over your E&P supply chain and oilfield services needs with confidence. You can rest assured knowing that when you choose Prismecs as your E&P supply chain provider, you are choosing someone who cares about your business and your success!

So, call us at 18887747632 for further assistance!

0