RFID and Drastic Cost Savings in Oil & Gas Sector
July 9, 2016—
In recent years Oil & Gas companies have been at the forefront of the struggle against a substantial decline in fossil fuel prices. Accordingly, these companies are looking for groundbreaking methods of cost control in this capital-intensive enterprise. A considerable portion of expenses are directed towards the management of costly equipment in oil and gas fields, refineries, and petrochemical plants. Every year tremendous amounts of resources are spent, specifically on asset maintenance and repair.
Affording the budget is not, of course, the only challenge here. One should also take into account the difficulty of performing asset maintenance in the field. Asset management could be an arduous activity, especially on massive oil platforms or in mega-size refineries. In such colossal installations, losses due to error, theft or damage, appear to be an inevitable daily occurrence. The traditional methods of asset tracking (manual auditing) are error prone, labor-intensive, and time consuming. Moreover, an astute observer will eventually notice the deficiencies of the less advanced check-in/check-out and transfer procedures in this sensitive industry. These challenges also amount to inconvenient maintenance and repair services, directly affecting production flow and revenue rates.
The key strategy in tackling such challenges is to focus on technological breakthroughs that would potentially maximize cost-efficiency. New technologies are being explored in all branches of Oil & Gas industries to mitigate the expenses. In this respect, RFID technology has emerged as the most viable solution in the area of asset tracking and visibility. DominateRFID Asset Visibility System offers the most competitive cutting-edge software and hardware suite in asset management while addressing the unique demands of petroleum and gas industries.
DominateRFID Asset Visibility System is tailored to meet the specific demands of large, multi-location organizations including Oil & Gas industries. This solution is comprised of a Web-based server application and a series of mobile applications that utilize RFID technology to secure real-time asset visibility. You can apply its automated check-in/out and transfer modules to exert a robust control of temporary or permanent asset movements. Swift and simple audits help you instantly identify tagged assets and access on-the-spot data. Software modules also handle all the services required during usage cycles. The system notifies you of the PM due dates, calibration due dates and warranty expiration dates. It reduces shrinkage and subsequent losses, such as the man-hours wasted on searching for missing assets.
If you already have an ERP or asset management software, DominateRFID can still help you optimize your current platform. This Asset Visibility System can fully integrate with your existing software to provide your application with RFID capabilities, or it may function as a stand-alone Asset Management System. The offered software provides you with menus to set up, enter, and maintain asset data. You can classify assets into unlimited types, with unlimited user-defined properties. In view of all these benefits, DominateRFID Asset Visibility System will predictably foster the operational efficiency of your Oil & Gas facilities by enhancing asset utilization, lowering costs, and enforcing security, control and accountability.