With the fluctuation of oil prices lately, it’s natural for organizations within the oil and gas industry to worry about the uncertain times. As oil and gas producers examine questions about locking in demand and thriving during a period of oversupply, questions of efficiency improvements and business model adjustments are at the forefront.
A common mistake that companies make during difficult times, is to focus on cost-cutting measures. Typically, employees and the knowledge they possess is often the first casualty of any downturn. In order to succeed long term, an organization must protect the institutional knowledge that is critical for continued success and growth.
The oil and gas industry has demonstrated the ability to be inventive by integrating new technology to address this problem. As an example, many organizations are using the current downtime to implement a knowledge management system to capture and archive important process and procedures information. As the industry recovers, these systems will guarantee employee learning and productivity improvements from the field to the boardroom.
Simply stated, are you prepared to thrive in a business environment that is volatile and uncertain?
While there are real challenges within the industry, opportunities exist to adjust and prosper into the future. For more information on how Accupoint can help you manage these uncertain times, contact us today.
New technology continues to overwhelm and amaze us as faster and smaller devices with specific software continue to make a major difference in how we live our lives and conduct our work.
Here are two helpful reminders when considering purchasing and installing new technology. First, the education and training of the workforce is just as important as the equipment itself. New technology touted to save your staff time and energy cannot work if the staff doesn't fully understand how to use it. Training and support are required. Be sure to factor into any purchase decision the ability for users to ask questions and then be willing to consistently evaluate if the software is working as it was intended.
The second consideration is a focus on mobile technology. The benefits of mobile computing are numerous and include: data capture in the field, ease of collaboration from multiple locations, and better decision making. This in turn improves efficiency, communication and profitability. Many organizations understand these benefits, but are not fully embracing it in their day to day operations.
For more information on Accupoint's mobile solutions and our ability to empower employees and increase productivity in the manufacturing, energy and service industries, please contact us today.
You have probably heard the term The Great Crew Change. It has been floating around the last few years as companies begin to recognize the generational change in the workforce. While this is a challenge (and opportunity) that every industry will face very soon, it will have a particularly profound impact on Oil and Gas. According to estimates the average age of employees in the petroleum industry is 60. The nearly 50% of workers over 55 will be retiring in the next 5-7 years. This is going to leave a huge gap in the knowledge and experience base of companies. With recent and ongoing downsizing due to lower oil prices, and the impending effects of The Great Crew Change, companies have to consider what it means for them and how they will prepare for the changes.
Several key steps should be taken to set your company up for success.
While The Great Crew Change does mean new challenges, it also presents opportunity. Companies need to find a balance between experience and embracing the inevitable changes. Investments must be made in both employee retention, and utilizing new technology. Companies need to focus on efficiency, accuracy and spending in areas that may not have been the main focus 10 years ago. Those companies that are able to operate at optimal performance will be in the best position for success no matter which direction the market turns. For more information on how Accupoint can help you navigate The Great Crew Change and optimizing business practices, contact us today.