The 10 Deadliest Sins of Oilfield Service Companies

Sin #3: Item Mismanagement

In an industry where project costs and revenue numbers tend to be big, it can be easy to let the small stuff get away from you. Every year, oilfield service companies lose track of staggering amounts of fixed assets, small tools, parts and other materials and consumables. Some items are left behind at project sites, other items are lost and untold amounts are simply stolen.

In this exclusive webcast, Gene Klein, Controller at Industrial Battery Products, and VistaVu’s CEO, Jory Lamb, discuss the topic of item mismanagement within an energy services environment. Gene shares some of the best practices used by IBP to help ‘keep their arms around’ which items are at a customer site, which are sitting idle or in transit and when specific items are expected to come from a customer site.

Losing track of inventory items, tools and materials can wreck your company’s profit margin. Here’s how to keep those smaller assets from walking out the door. 

Here’s what you’ll learn:

• Why oilfield service companies struggle with item mismanagement
• How it happens and what it can cost you
• What to do about it and how to fix it
• Proven industry best practices your peers use to address it