Riversand’s Product Information Management (PIM) and Data Quality Management (DQM) Solutions at ConocoPhillips
ConocoPhillips is the world’s leading independent explorer, developer and producer of crude oil and natural gas, sources and procures materials from thousands of different suppliers across a wide variety of MRO products. The energy business tends to be highly distributed across various geographies, with multiple production and refining facilities across the globe leading to highly distributed procurement and supply chain processes.
ConocoPhillips engaged Riversand Technologies, whose Product Information Management (PIM) solution easily scales to millions of items and thousands of attributes, to provide strategic consulting, technology solutions and outsourcing services to tackle data quality issues and to help with the migration to an industry standard schema and taxonomy.
Riversand’s solution for Conoco Phillips involved determining content standards for classification and unit of measures, one-time cleanup of content within Material Master, and deployment of Riversand’s MDM Center along with the DQM module to ensure that the data remains clean on an ongoing basis. The initial implementation included 1.2 million items with an average of 20 attributes per item.
As a direct result of this project, Riversand has helped ConocoPhillips to achieve the following key business benefits:
- Reduced Procurement Costs: Buyers can find items for which they are searching due to rich accurate Material Master data.
- All Material data was classified, restructured and enriched to PIDX.
- All items were described completely and consistently with full text synchronizing data descriptions, UNSPSC cross reference, cross reference with SAP across various Material/Service Group and rich technical specifications.
- Reduced costs for Material Creation: Implemented Riversand MDMCenter for new Material Creation and maintenance to ensure the rationalized Material Master will retain its data integrity. The solution also ensures that Master Data rules are followed before new materials are created and prevent duplicate materials from being created.
- Reduced Inventory Costs: Better Equipment, BOM and Spares/Material attributes data leading to better inventory decisions.
- Reduced Rick of Plant Shutdowns: Better Equipment BOM and spares data means better maintenance and operations of the plant leading to reduced risk of plant shutdowns due to incorrect spares.
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