About
Our client, a leading national refining and petrochemicals company in the Middle East, has undergone significant integration to form one of the largest and fastest-growing businesses in the region’s oil industry. The company processes crude oil to produce premium fuels that meet 100% of national fuel demands. Additionally, their petrochemical plants produce essential industrial chemicals used in various manufacturing processes.
Problem Statement
The client was facing substantial challenges in managing an extensive inventory of approximately 300,000 materials. The lack of standardized data, coupled with numerous duplicates, resulted in inefficiencies, increased inventory costs, and difficulties in data management and retrieval. This situation necessitated a comprehensive material data management solution to streamline operations and improve data integrity.
Scope
CODA Technology Solutions was tasked with:
- Analyzing, cleansing, and standardizing the client’s material data.
- Creating new items using advanced tools for approximately 300,000 materials.
- Performing Bill of Materials (BOM) operations.
- Assessing risk factors and identifying duplicates impacting inventory costs.
- Conducting data cleansing, cataloguing, and codification.
- Ensuring codification aligns with UNSPSC standards.
- Tracking and recording all data statuses and quantities.
- Linking images to each data item for visual verification.
Solution Provided
We implemented a robust material data management strategy, incorporating:
- Detailed analysis and cleansing of material data to eliminate inconsistencies and errors.
- Standardization of data and creation of new items, ensuring uniformity and accuracy.
- Comprehensive BOM operations to streamline material management.
- Rigorous assessment and identification of duplicates to mitigate inventory costs.
- A systematic data cleansing, cataloguing, and codification process adhering to UNSPSC standards.
- Continuous tracking and recording of data statuses, including new creations, clarifications, and existing codes.
- Linking images to data items, providing a visual reference and enhancing data reliability.
Outcome
The execution of our solution resulted in a highly structured and enriched material data catalog. This comprehensive approach significantly improved data accuracy, consistency, and accessibility, even in remote locations.
Benefits
- Significant cost savings through the elimination of duplicate items and optimized inventory management.
- Efficient data storage, definition, allowable values, and reporting.
- Automated generation of material descriptions (short and long) through customized processes.
- Enhanced spend analysis and visibility, facilitating better budgetary planning and further cost reductions.
- Improved master data governance, ensuring consistent and reliable data management.
- Reduction in data storage requirements, contributing to lower operational costs.
- Easy access to data from various locations, supported by visual references of equipment, which reduces time and resources spent on data retrieval and verification.
By implementing this solution, the client realized substantial cost savings and operational efficiencies, setting a new standard for data management within the industry.
