PIDX in Effective Management of Oil and Gas Items
How PIDX strengthens Supply Chain Performance based on Master Data Management (MDM)
Costly investments, complex operations, stringent regulations, and lack of visibility for decision-making are just a few of the challenges hampering effective supply chain performance for Oil & Gas companies.
Those companies look to data standards to help increase supply chain efficiency – a key driver in improving business performance.
Current technologies offer a broad range of data standards, each providing unique benefits. The problem is, integrating data from multiple systems into a unified industry supported data model becomes complex if not technically impossible.
However, two standards make the top of the list for supply chain performance;
- PIDX (Petroleum Industry Data Exchange), and
- UNSPSC (United Nations Standard Products and Services Code).
This article is part-one in a three-article series, designed to provide Oil & Gas industry members a MDM roadmap in which PIDX and UNSPSC standards deliver improved supply chain business performance.