"Riversand help Conoco deliver shareholder value during its SAP consolidation by providing strategic consulting, technology solutions and outsourcing services to tackle data quality issues and migrate to an industry standard schema and taxonomy."
See Their Success Story
Industry
Energy
Geographies
170+ Countries
Number of SKU’s
55 Million
Revenue
$12 Billion
As the third largest integrated energy company in the U.S., Conoco sources and procures materials from thousands of different suppliers across a wide variety of MRO products.
Turning Information into insight
Challenge
Risk of plant shutdown
Higher inventory costs
Increased procurement costs
Wasted productivity
Solution
Classified and restructured taxonomy to PIDX standard
Matched 200K+ free-text POs
One-time cleansing & on-boarding of 1.3M+ items within Material Master
Created 3.4K category-specific item templates
Benefits
Reduced global inventory costs
20% decrease in PO costs
15% productivity increase in data management
Reduced plant shut-down risk with easily identifiable spare parts
