Asset Management Solution For Fortune 500 Company
Background
Based out of Middle East, a leading Oil producer wished to cut cost and increase revenue by improving the supply chain process. The App Maisters team helped develop a well-integrated cost-effective asset management solution through IoT, Big Data & Analytics.
Objective
Our Client had logistical surges, that resulted in uncertain delivery and contractual obligations. Crude Oil shipments were scheduled without insight ahead of schedule to meet demands and the stations at which they are to be offloaded were often without space, while previous shipments were still fully not utilized; this meant shipments stayed at port for several days, even months, racking up port bills in thousands of dollars.
Solution
We developed an IOT backed big data-based analytics solution which tracks crude Oil levels in oil reserve PITS and an automatic threshold is picked up by remote field operations to trigger the shipment process, making it much smoother and reducing costs from millions of dollars per annum to a slight overhead.
Results
- Reduce cost by 160%
- Efficiently managed assets and inventory
- Streamlined logistic processes
- Better efficiency with other projects
