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The Northeast ONG Marketplace
NEW TECHNOLOGY
MARKETPLACE SOLUTION INNOVATES SUPPLY CHAINS By: Robert Nebel Jr., TruLogix When picking up any oil & gas trade magazine in recent years, you’ll quickly find articles on ‘what technology solutions have to do’ for this industry. In those articles, you’ll find generic-sized words like “mobility”, “collaboration”, and “usability”. With those buzzwords, you’ll find much more suggestions rather than actually offering specific solutions. Yet, every roustabout, deckhand and chief officer knows there are still significant improvement opportunities within their operations. Think about this for a second, aside from the obvious budget pressures at play today, why has it been so difficult for oil & gas companies to “successfully” apply technical solutions to their supply chains; especially when the same solutions thrive elsewhere? We set out to not only answer, but address, this exact question. Through over 1,000 hours of research over a year-long effort, TruLogix is developing a marketplace - called TruMarket - which seeks to address the industry’s challenges by helping both suppliers and operators succeed. Countless hours were spent sitting in trucks, dispatch trailers, walking well pads, researching existing software solutions, and holding roundtable discussions with industry executives. During our journey, a few things were abundantly clear as to why operators and suppliers have struggled to adopt technology that will positively impact their operations: 1. Misapplied solutions - The technology space is crowded, and software providers often confuse their customers by saying their solution(s) will solve customers’ issues, even if it stretches their capability. Operators, for example, have tried to implement expensive Enterprise Resource Planning (ERP) systems for the sake of being more organized, but end up adding more resources because the solutions were made for generic and predictive environments, and sometimes further restricts their ability to collaborate with their Suppliers due to strict process and data controls. 2. Industry complexity - Work performed within this industry is dynamic. We deal with varying topography, extreme weather conditions, and have a large appetite for resources (especially, water management and local-based third party supplier services). With all of this complexity, it is difficult to forecast precise schedules when variables are not predictable and consistent. 3. Regulatory and safety concerns - Safety must be balanced between compliance, simplicity and efficiency for it to have a net-positive impact. The safety of our
employees, partners, and communities must be a top priority. Solutions therefore must incorporate some element of compliance, but at the same time help get there in an easier, cheaper or faster way. The perception, however, is that more compliance equates to more money and possibly more paperwork. Despite these challenges, we can expect regulatory compliance measures to increase for the industry. The innovation environment has therefore stagnated while industry players weather the economic storm. It is, however, precisely these challenging times where new and innovative solutions are born. Having the opportunity to listen to those in the field has enabled us to craft a Software as a Service (SaaS) marketplace that helps manage and reconcile the work between operators and their vast supplier network. Looking at existing solutions, supply chain software providers typically emphasize one to three attributes: Collaboration (cross-company workflow), Integration (cross-process workflow), and/or Optimization (efficient and effective workflow). The industry is in need of solutions that balance well between all three, which has frankly been lacking. TruLogix, however, is creating a marketplace where Operators can better manage their costs and reconcile with supplier performance, while suppliers can manage their delivery obligations successfully, safely and accurately. The ride-sharing service, Uber, was able to match the transportation needs of individuals with those of everyday people. In this industry, we do not know when and how much we’re going to need something on a daily basis. TruLogix applies a similar concept where we match the needs of operators with available suppliers. By facilitating and controlling execution, we also capture key data points allowing for evaluation of performance like never before. We are providing solutions that help all parties succeed so everyone wins. There are seven core features of our TruMarket solution: 1. Marketplace: We match operator needs with available suppliers and offer tools to manage the order through completion from the palm of your hand. This enables the parties to reconcile the planned work with the actual work and invoice. 2. Mobility: The marketplace is built for mobile, on-the-go businesses. This means it works with smartphones, tablets or laptops. 3. Digital Documentation: Integrated into our workflows, we capture information and signatures digitally and pass repetitive information from one process to the next. 4. Action-Driven Communication: TruMarket is designed with alerttriggered messaging for those situations that require immediate attention. 5. Order-to-Cash Supplier tools: These tools enable Suppliers to announce available capacity, manage orders with their assets/employees, and invoice upon successful completion. 6. QR Code Workflow: We are applying this existing technology in innovative ways so that you and your suppliers can remain in compliance and in control of your hazardous materials. ‘Point and scan’ will keep you and your partners in compliance, track actions for audibility, and alert users when they are about to make mistakes. 7. Analytics: TruMarket offers profile-driven and visually stunning dashboards with KPIs that measure performance like never before. The marketplace is launching Q4 2015 and we are signing up participants now. To learn more, contact us at inquiries@trulogixLLC.com, visit us at www.TruLogixLLC. com, or follow us on twitter @trulogixllc.