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Plant Asset Management Systems – Trends & Future Perspective

Recent Trends The importance of physical asset management to a company’s success has increased over recent decades. Automation is one reason for this trend, as it has forced industries to delegate more tasks to machines, thereby making maintenance more crucial. The perceived significance of maintenance by management spans a wide variety of perspectives. Some see

What Fuels Plant Asset Management?

With the oil and gas industry operating in increasingly remote geographical locations, harsher environmental conditions, employing newer and unconventional processes for extraction, the importance of managing physical assets has started sinking in and managing these assets has become critical. This has in turn enabled a wholistic approach; one that is more balanced and inclusive of

Supplier Management – a key Imperative to your Outsourcing Strategy

Post identifying a supplier, supplier management becomes a key imperative to successful implementation of an outsourcing strategy. Many companies with limited experience in outsourcing underestimate the difficulties associated with integration of the service provider to their processes. More experienced companies have dedicated teams assigned to manage and facilitate the integration and implementation of outsourcing. Current

Collaborative outsourcing – who to partner with?

Engineering companies need to dig deep and ensure that their outsourcing services partner comes with the necessary domain expertise and relevant field experience backed by a strong commitment towards process orientation and maturity. By creating a self-sustaining Center of Excellence (CoE) and clearly distinguishing roles and responsibilities, organizations can ensure process and delivery consistencies within

Collaborative Outsourcing – Who to Partner with?

Engineering companies need to dig deep and ensure that their outsourcing services partner comes with the necessary domain expertise and relevant field experience backed by a strong commitment towards process orientation and maturity. By creating a self-sustaining Center of Excellence (CoE) and clearly distinguishing roles and responsibilities, organizations can ensure process and delivery consistencies within

Safety solutions for the Oil and Gas industry

Oil and gas disasters tend to be catastrophic. Aging infrastructure and associated deterioration due to corrosion or other environmental factors, wave forces and other factors affect the structural integrity of rigs. Leakage results from failed infrastructure. Human/organization causes for oil and gas disasters such as errors or omissions during the design phase (faulty assessment of

Collaborative Innovation and Business Benefits

Collaborative Innovation helps international organizations to solve critical issues of capacity and capability augmentation and cost optimization. More often than not, organizations seek engineering outsourcing as a collaborative option. Engineering outsourcing today has become more mature, with innovation driving the dynamics of every strategic outsourcing partnership. Pure-play sourcing relationships are slowly transforming into strategic partnerships

Six Sure ways to win in Emerging Markets

Multiple aspects collude together to ensure success when trying for a product or service break through in emerging markets. Here are six sure ways to understand and realize the fruits of your glocalization efforts: Know your Customers Emerging markets can be typically segmented into four: • Global customers: Customers who go for global brands and

Top 3 factors to ponder before deciding to ‘Glocalize’

As we ponder over the evolution of the global market place, global products and brands trying to tap into emerging markets had their eyes on targeted customers in a couple of selected segments. These customers were aspiring to buy global products in local markets, willing to pay the price at par with the global markets.

Innovation in Product vs Service Organizations

Innovation happens when an idea is implemented to create an impact. It has three elements: idea, implementation and impact. The impact is typically measured as either cost saving or an increase in revenue – both resulting in higher profits. Innovation in product companies (or OEM) is well understood and practiced. They have well established processes,