ASCI Secures ConocoPhillips Global Inventory Optimization Contract
ANCHORAGE, Alaska, Sept. 28 /PRNewswire/ -- Asset Management Services (AMS), a subsidiary of Advanced Supply Chain International (ASCI), a global leader in supply chain management, announced today the finalization of ConocoPhillips' purchase of the robust Oniqua Analytics Suite (OAS) - Inventory software solution. The software, purchased after ConocoPhillips' trials at three of their largest upstream sites (Alaska, Indonesia, and the North Sea), has performed above expectations, providing rapid ROI exceeding 400%.
OAS - Inventory was developed by Australian-based Oniqua Enterprise Analytics, and is specifically designed for asset-intensive industries such as oil and gas. ASCI will install OAS - Inventory at 25 ConocoPhillips production and refining facilities worldwide. As the Master Distributor for Oniqua products within the oil and gas industry in North America, ASCI will customize the software for use at each ConocoPhillips site.
This application delivers a tremendous return on investment by right-sizing inventory based on maintenance, inventory, and procurement data, and applying the world's leading techniques for inventory optimization. The optimization algorithm has demonstrated proven inventory reduction results of 15-25%.
"The challenge for asset-intensive corporations is to maximize their return on heavy [plant and ongoing operation] investments," said Mike Schwarz, VP of Business Development at ASCI. "To accomplish that, companies must overcome difficulties of operating and maintaining complex and diverse equipment in difficult climates. This software suite increases service levels, thus reducing downtime, with decreased inventory investment," he added.
"We are delighted by ConocoPhillips' decision to roll-out OAS - Inventory across 25 sites and look forward to working with our valued partner, ASCI, to provide analytical solutions that help ConocoPhillips meet its current and future business objectives," said Oniqua CEO Andy Hill. "The investment by ConocoPhillips is further validation of the outstanding value that the Oniqua Analytics Suite can bring to asset-intensive organizations by continuously improving their operational efficiencies and business performance," he continued.