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Posted on August 17th, 2021 - Posted in Equipment | HSE | Management | Oil and Gas | Tips and Tricks

And then there were none?


Did your inventory magically disappear? Or, perhaps the equipment that was due last week is still not in the field? Vinodkumar Raghothamarao, Director of IHS Markit EMEA states, “Oil and gas companies need to focus…on the non-hydrocarbon supply chains that handle the parts, materials and services required to run the business. The non-hydrocarbon supply chain is very critical to deliver…equipment and services. Procurement and supply chain strategies are set to be in the forefront of critical issues plaguing oil and gas companies.”

We’ve all heard the saying, “Time is money.” Well, so is inventory. A well-managed supply chain will:

  • Reduce waste and costly downtime
  • Diminish expenses from lost tool replacements
  • Manage allocation of inventory across multiple sites
  • Mitigate risk
  • Assure safety compliance

Oh, ho, ho, it’s not magic

At a minimum, an oil rig will employ 50 workers and at least double that number for an off-shore rig. That’s a lot of people to manage. Now, consider all the inventory on the move (i.e., vehicles or units and all other equipment and materials) — inventory required for those workers to do their jobs. While there’s actually nothing magical about it, you may feel as if you need to be a wizard to keep track of it all.

You need to track:

  • Routine inspections and maintenance of vehicles and tools
  • Use (mileage, hours, etc.)
  • Life cycle of consumables
  • Deliveries and returns
  • The checkout and return of equipment
  • Location of equipment, especially if managing multiple sites
  • Incident field reports regarding equipment damage or failure
  • Contract expirations and renewals

You don’t have to fit into a box

Off-the-shelf solutions are rarely a good fit for any operation. Fortunately, we have a few tricks up our sleeve. Have unique equipment you need to track? We can customize that. Wish email notifications could be automated? We can make that happen, too — and more.

At Wellsite Report, we can customize:

WSR equipment management

Contact Wellsite Report today to make your inventory problems disappear.


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