Chevron, Shell, and Baker Hughes have won BOSTON STRATEGIES INTERNATIONAL (BSI's) 2010 Oil and Gas Supply Chain Excellence Awards
The selection was made after BSI screened over 300 candidate operations and supply chain management improvements among National Oil Companies (NOCs), International Oil Companies (IOCs), Equipment Providers, and Service Providers.
Chevron Corporation (USA) won for its effective in extending its internal Lean Six Sigma techniques to its suppliers. Lean Sigma, which officially started as a grass roots initiative in year 2000, achieved a validated financial benefit of $250 million in 2008, $400 million in 2009 and is projected to exceed $500m in 2010.
Shell won based on its high-performing standardization program, which allowed it to reduce purchase prices by up to 30% and inventories by more than 50% through use of its extensive Materials and Equipment Standards and Code (MESC) catalog.
Baker Hughes won the award in the Equipment Provider category based on its supply chain transformation strategy and year-one achievements: the group has publically declared $100m in volume adjusted cost reduction per year for the next three years.
The awards were conferred at the annual event of OFS Portal, a not-for-profit data standardization body dedicated to the upstream oil and gas industry.
Click here for the full press releases for Shell, Chevron, or Baker Hughes.
