A New Reality for Oil and Gas Procurement and Supply Chains
Faced with an unprecedented crisis, operators should use a dual approach that supports suppliers and embraces strategic partnerships to build industry resilience.
Faced with an unprecedented crisis, operators should use a dual approach that supports suppliers and embraces strategic partnerships to build industry resilience.
Procurement will be critical in getting companies through the crisis. Now’s the time for CEOs to strengthen relationships with their suppliers’ CEOs.
Contrary to popular belief, the most successful digitization efforts do not begin with technology decisions. Focus instead on business and procurement objectives.
Digital can help procurement teams gain a much deeper understanding of their purchases—and cut costs significantly.
Deploying technology solutions along with conventional best practices can greatly mitigate the risk of future failures.
Conventional approaches alone can’t do it. New digital solutions must also play a role.
As economic pressure grows and budgets shrink, procurement officials need to revise their negotiating strategy with contractors so they get more for their countries’ money.
Investors increasingly want more than low-single-digit savings from acquisitions. Procurement is in a position to deliver.
BCG has developed an effective approach that utilities can use to minimize the odds of being blindsided by a major supplier-related event.
You can still reach your goals by taking a persistent and comprehensive approach, making allies of top suppliers, and continually pushing for change.