It is increasingly important for oil and gas companies to manage and oversee their international supply chain activities in an effective manner in order to reduce costs as well as to enhance and guarantee efficient operations.
As companies continue to expand globally and operate in ever more remote locations the challenges of managing this extended supply chain become increasingly onerous; companies must cope with the complexities of operating in both local and regional hubs, managing multiple languages and currencies, with different legislative and taxation requirements and often very different operating environments.
There are five key foundation elements which contribute towards running an efficient extended international supply chain for an upstream oil & gas company – with important actions and disciplines to be put in place to support each of these:
- Criticality of goods
- Stocking strategy
- Sourcing/expediting
- Managing returns
- Integrated systems
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- Managing an efficient extended global supply chain
