Rapid results propel energy leader to expand Oniqua IQ Inventory optimization platform across upstream operations
Oniqua, the leading provider of MRO inventory optimization software and services for asset-intensive industries, today announced that one of the world’s largest oil and gas companies will implement the Oniqua IQ™ Inventory platform across its global upstream operations.
Through the investment in IQ Inventory, the energy leader expects to more objectively and efficiently define spare parts criticality, reduce downtime risk and better manage inventory on a global basis. Implementation across the targeted sites is expected to be complete by the end of 2017.
“We’re excited to continue the relationship with this major client, one of the world’s most recognized and respected leaders in oil and gas,” said Steve Sotwick, Oniqua Vice President, Business Development. “This client has realized maximum savings in previous rollouts in record time. With the implementation of IQ Inventory at additional sites across the globe, we look forward to helping them further compound their savings, improve service levels, enhance uptime and increase overall efficiencies across their MRO operations.”
Oniqua’s partnership with the energy leader began in 2013 with a pilot for one of its upstream operations in Russia. The pilot results led to a full implementation of that operation, followed by implementations across two additional regional operations. The successful implementation of IQ Inventory at these sites, combined with the value of Oniqua’s expertise and ongoing guidance on inventory optimization, led the energy leader to expand its investment of Oniqua across 10 additional countries globally.
Oniqua is recognized globally for its award-winning cloud-based IQ Inventory optimization platform and support services; and is proud to be optimizing inventories for some of the world’s leading oil and gas companies, including BHP Petroleum, BP, ConocoPhillips, Occidental, Phillips66, Transocean, ADMA-OPCO and more.
Based on a recent analysis of asset-management-services-malaysia/” >asset performance management solutions for the oil and gas industry, Frost & Sullivan recently awarded Oniqua with the 2017 North America Frost & Sullivan Product Leadership award.
“The biggest differentiating feature of the IQ Optimization Suite is its advanced analytics capabilities that were specifically intended to manage oil and gas MRO issues such as the slow-moving, non-seasonality nature of spares,” said Frost & Sullivan Research Analyst Sankara Narayanan. “Unlike traditional ERP“>ERP or EAM applications that lack capabilities such as inventory optimization, Oniqua’s solution determines the levels of inventory by taking into account several variables such as average value, size, and lead times, which affect planned and unplanned demand.”