The Oil & Gas Supply Chain & Procurement Summit
recently interviewed PowerAdvocate's Oil & Gas team on some of our favorite topics: cost reduction, fact-based negotiations, vendor efficiency gains, and market data. Read on for a discussion on the topics that keep us, and the O&G Supply Chain teams we work with, up at night.
James Wagstaff, Vice President – Oil & Gas, PowerAdvocate
Jayme Mendal, Senior Director – Oil & Gas, PowerAdvocate
What trends in demand are you seeing from energy sector clients in terms of supply chain performance needs?
A key need we’re seeing from our clients is access to better data on which to base their decisions. For example, there are two broad categories of information that our clients are seeking.
The first would be much better and more accurate and reliable information on their own costs – so their internal data. It’s about answering questions at a very detailed level, what’s actually driving cost differences across their wells, across their suppliers, and across their areas of operation.
The second information need relates more to what’s happening in the market and how they’re performing relative to the market. This is more about answering questions like, “How is the market price for well stim or drilling fluids moving relative to our pricing?”
Our clients are trying to figure out how we can ensure that our pricing remains in line with what’s going on in the market – particularly as things begin to turn.