Oil and gas companies now have the chance to resolve years-long challenges and establish a more resilient posture against future threats. With commodity prices near record highs, they can develop supply chain solutions that would help enable the ongoing energy transition—and the security and reliability of an energy system upon which we all depend.
Accenture believes energy companies can create a reliable supply chain networks that will serve them well for decades to come by taking three actions today.
Pool resources, insights and know-how. Oil and gas companies should create a collaborative response to supply chain issues by sharing insights and resources. Pooling demand for equipment and other supplies to help improve energy availability and energy system efficiency is critical. So is the creation of shared infrastructures that will allow the industry to help boost the performance and responsiveness of its assets and resources. Shared and centralized warehouses or staging areas within a specific basin are just two examples.
Without integrated planning, demand pooling and shared infrastructures among operators and OFES companies, the industry will be unable to improve utilization of assets, logistics networks or service crews. As a result, operators can’t effectively mobilize capacity to address demand and their growth objectives. Alternatively, collaboration across the oil and gas value chain yields a number of advantages—from improved resource utilization and supply flexibility to reductions of greenhouse gas emissions of 10% to 25%.
Bolster procurement and risk management capabilities. Currently, most energy companies manage their procurement operations in isolation either by basin or as a company—seeking out the supplies and resources they will need to seek their unique strategic imperatives. Establishing joint procurement teams and “buy desks” to source and manage products would not only allow the industry to compete more effectively for scarce resources, but also help encourage suppliers to be more innovative in how they serve the industry.
Another way to ramp up risk management capabilities would be for companies to stress test the resilience of their supply chain networks—and contingency plans—under various disruption scenarios. Creating digital twins of end-to-end supply chain networks (including suppliers, lines of business, products and more) allows companies to run stress test disruption scenarios for virtually any material or service. We recommend that companies stress-test their supply chain networks at least annually.
Stress testing helped the lubricants business of one energy company understand its supply chain risks—and the potential impact