o9 Solutions, Inc. Case Studies Digital Transformation in Oil and Gas: A Case Study on Inventory Optimization and Forecasting

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	Digital Transformation in Oil and Gas: A Case Study on Inventory Optimization and Forecasting o9 Solutions, Inc.

Digital Transformation in Oil and Gas: A Case Study on Inventory Optimization and Forecasting

o9 Solutions, Inc.

Technology Category	Functional Applications - Inventory Management Systems Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Oil & Gas Transportation
Applicable Functions	Logistics & Transportation Warehouse & Inventory Management
Use Cases	Inventory Management Picking, Sorting & Positioning
Services	System Integration
Challenge	One of the world's largest publicly traded international oil and gas companies was grappling with highly manual and Excel-driven planning processes. The company was facing significant data challenges and a lack of inventory visibility. The data structures were complex and unorganized, making it difficult for the company to maintain an overview of all data and processes. This led to the absence of a single source of truth. Furthermore, the company's forecast accuracy was low, and it relied heavily on manual, lagging indicators in the forecasting process. This resulted in excessively high inventory levels. The company's focus was more on execution rather than on planning, leading to a lot of day-to-day volume management and firefighting. Read More
About Customer	The customer is one of the world's largest publicly traded international oil and gas companies. The company was struggling with data challenges, lack of inventory visibility, and inefficient planning processes. The company's data structures were complex and unorganized, leading to a lack of a single source of truth. The company's forecasting process was predominantly manual, resulting in high inventory levels. The company was more focused on execution rather than planning, leading to a lot of day-to-day volume management and firefighting. Read More
Solution	The company partnered with o9 to address these challenges. o9 provided a unique capability to have full visibility over sales, inventory, and supply chain planning on an integrated, single source of truth, cloud-native platform. This helped the company to streamline its data and processes. Additionally, o9 helped the company optimize and reduce inventory levels by incorporating internal and external drivers of demand into o9’s highly differentiated Machine Learning forecasting capabilities. This significantly improved the company's forecast accuracy. Furthermore, all planning processes were managed in the o9 platform, freeing up time for the company to start mid-range planning and focus on other strategic priorities. The o9 Enterprise Knowledge Graph was used to build demand, inventory optimization, and supply-knowledge models. This allowed for running the entire process in a single integrated platform without the need for further integration. Read More Log in to view content
Contents

Technology Category

Functional Applications - Inventory Management Systems

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Oil & Gas

Transportation

Applicable Functions

Logistics & Transportation

Warehouse & Inventory Management

Use Cases

Inventory Management

Picking, Sorting & Positioning

Services

System Integration

Challenge

One of the world's largest publicly traded international oil and gas companies was grappling with highly manual and Excel-driven planning processes. The company was facing significant data challenges and a lack of inventory visibility. The data structures were complex and unorganized, making it difficult for the company to maintain an overview of all data and processes. This led to the absence of a single source of truth. Furthermore, the company's forecast accuracy was low, and it relied heavily on manual, lagging indicators in the forecasting process. This resulted in excessively high inventory levels. The company's focus was more on execution rather than on planning, leading to a lot of day-to-day volume management and firefighting.

About Customer

The customer is one of the world's largest publicly traded international oil and gas companies. The company was struggling with data challenges, lack of inventory visibility, and inefficient planning processes. The company's data structures were complex and unorganized, leading to a lack of a single source of truth. The company's forecasting process was predominantly manual, resulting in high inventory levels. The company was more focused on execution rather than planning, leading to a lot of day-to-day volume management and firefighting.

Solution

The company partnered with o9 to address these challenges. o9 provided a unique capability to have full visibility over sales, inventory, and supply chain planning on an integrated, single source of truth, cloud-native platform. This helped the company to streamline its data and processes. Additionally, o9 helped the company optimize and reduce inventory levels by incorporating internal and external drivers of demand into o9’s highly differentiated Machine Learning forecasting capabilities. This significantly improved the company's forecast accuracy. Furthermore, all planning processes were managed in the o9 platform, freeing up time for the company to start mid-range planning and focus on other strategic priorities. The o9 Enterprise Knowledge Graph was used to build demand, inventory optimization, and supply-knowledge models. This allowed for running the entire process in a single integrated platform without the need for further integration.

Impact #1	The implementation of o9's solutions led to a significant transformation in the company's operations. The company was able to maintain a single source of truth, leading to improved data management and visibility. The forecasting process was optimized, leading to a reduction in inventory levels. The company was able to shift its focus from execution to planning, leading to more efficient volume management. The use of the o9 Enterprise Knowledge Graph allowed the company to run the entire process in a single integrated platform, eliminating the need for further integration. This led to improved operational efficiency and strategic planning.

Impact #1

The implementation of o9's solutions led to a significant transformation in the company's operations. The company was able to maintain a single source of truth, leading to improved data management and visibility. The forecasting process was optimized, leading to a reduction in inventory levels. The company was able to shift its focus from execution to planning, leading to more efficient volume management. The use of the o9 Enterprise Knowledge Graph allowed the company to run the entire process in a single integrated platform, eliminating the need for further integration. This led to improved operational efficiency and strategic planning.

Benefit #1	Improved planning accuracy for both forecast and supply chain.
Benefit #2	Significant reduction in inventory levels.
Benefit #3	Decrease in demurrage costs related to unused ships and vessels.

Benefit #1

Improved planning accuracy for both forecast and supply chain.

Benefit #2

Significant reduction in inventory levels.

Benefit #3

Decrease in demurrage costs related to unused ships and vessels.

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Overview

Digital Transformation in Oil and Gas: A Case Study on Inventory Optimization and Forecasting

Operational Impact

Quantitative Benefit