Insights by Nitor

Oil & Gas: How 2016 Events will Impact Procurement in 2017

Posted by Sean Sollitto on Dec 13, 2016 11:17:29 AM

Throughout 2016 there were many significant events that shaped the current state of the Oil & Gas industry.  As the price of oil continued to plunge, world events hinted at a very slow recovery in the sector. Projects were put on hold, headcounts slashed, but production seemed to continue unabated. Some of the events that have had or will have a major impact in this space are:

 - "Brexit" shook up the EU, continued financial chaos in Italy and Greece, and a general fear of the unknown led to declines in European markets. These events drained demand for oil, putting increased downward pressure on crude prices.

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Topics: procure to pay, procurement consulting, oil & gas

Finding Opportunities In Spend Analysis

Posted by Gary Stoddard on May 24, 2016 10:14:05 AM

 

In Western astrology, it is believed the universe is formed by four Elements: earth, air, fire and water. 

 Each of the four contains its own unique and beneficial properties within itself and when they work together they create one perfectly formed universe.

The same is true with the Source-to-Pay environment.  Each Element is individually important and valuable to create and /or deliver value. However, when all the Elements across the Source-to-Pay spectrum work together, a holistic and integrated best-in-class Procurement organization is enabled. 

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Topics: Spend Analytics, supply chain management, procure to pay

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