Solving procurement inefficiencies: Innovative approaches to sap Ariba implementation in oil and gas industry logistics
1 Schlumberger (SLB), Port Harcourt, Nigeria and Mexico.
2 Independent Researcher; USA.
3 Independent Researcher, Houston Texas, USA.
Review Article
GSC Advanced Research and Reviews, 2024, 20(01), 176–187.
Article DOI: 10.30574/gscarr.2024.20.1.0260
Publication history:
Received on 05 June 2024; revised on 13 July 2024; accepted on 16 July 2024]
Abstract:
In the highly complex and dynamic landscape of the oil and gas industry, efficient procurement processes are crucial for maintaining operational excellence and cost-effectiveness. However, traditional procurement methods often suffer from inefficiencies, leading to delays, redundancies, and increased expenses. Leveraging innovative approaches to SAP Ariba implementation presents a promising solution to address these challenges and streamline procurement in oil and gas industry logistics. SAP Ariba is a cloud-based procurement platform that offers end-to-end procurement solutions, including strategic sourcing, contract management, supplier management, and procurement analytics. By adopting SAP Ariba, oil and gas companies can optimize their procurement processes, enhance visibility and control over their supply chain, and drive cost savings. One innovative approach to SAP Ariba implementation in the oil and gas industry logistics involves the utilization of advanced data analytics and artificial intelligence (AI) technologies. These technologies enable companies to analyze vast amounts of procurement data, identify patterns and trends, and make data-driven decisions to optimize procurement strategies and supplier relationships. Another innovative approach is the integration of blockchain technology into SAP Ariba, which enhances transparency, security, and traceability in procurement transactions. Blockchain ensures the immutability and integrity of procurement records, reducing the risk of fraud and errors while increasing trust and accountability among stakeholders. Furthermore, adopting a collaborative procurement model through SAP Ariba enables oil and gas companies to collaborate closely with suppliers and partners, driving innovation, and fostering strategic partnerships. By leveraging SAP Ariba's collaborative features, such as supplier networks and sourcing events, companies can streamline communication, negotiate better deals, and ensure compliance with industry regulations and standards. In conclusion, innovative approaches to SAP Ariba implementation offer a transformative solution to solve procurement inefficiencies in the oil and gas industry logistics. By harnessing advanced technologies, embracing collaborative procurement models, and integrating blockchain into their procurement processes, companies can achieve greater efficiency, agility, and competitiveness in their procurement operations, ultimately driving sustainable growth and success in the challenging oil and gas industry landscape.
Keywords:
Oil and Gas; Industry Logistics; SAP Ariba Implementation; Innovative Approaches; Procurement Inefficiencies
Full text article in PDF:
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0
