In rising to the challenges brought about by the pandemic, the oil and gas industry has responded with extraordinary resilience and responsiveness. With the impact of pandemic forecasted to continue for a more extended period, most upstream energy companies are now in constant pursuit for proven, sustainable, cost optimization strategies and best practices to reduce logistics cost per barrel without adversely affecting the efficiencies in the long run. For most supply chain functions, this calls for responding to the following challenges that need strategies beyond tactical cost reduction measures:
- How to set a longer planning horizon with scientific variance tracking?
- How to accurately forecast long-term logistics demand using deep learning algorithms?
- How to optimize the charter, helicopter, and vessel fleet using mathematical optimization models?
- How to develop optimized route plans?
- How to eliminate the disconnects in the Travel & Logistics functions?
- What to focus on as core business, what to outsource?
- How to assess logistics maturity and develop a blueprint for a sustainable cost optimization journey?
While there are many ways to reduce logistics cost per barrel, there are some key winning strategies that can bring guaranteed predictable results and are sustainable in the long run. In this E-book, we analyze these strategies supported by scientific maturity assessment practices, operational research methods, and machine learning models.
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