March 1, 2023

Requis Visibility Software Optimizes Materials Management

With a click of a button, operators can map, share and access their peers’ material and equipment inventory globally in a central and collaborative “digital warehouse.” Requis Visibility will give maintenance and turnaround teams, supply chain professionals, and project managers access to material available locally or internationally before releasing new supplier requisitions.

Energy and Resources companies conduct regular maintenance projects to maintain safe operation and availability of assets. Accurate information and documentation are essential ingredients to a successful Turnaround project. Material inventories, purchasing contracts, and shipping timelines – all of these factors play a critical role in controlling inventory costs. Redeployment and disposition of surplus assets reduce holding costs and prevent working capital inventory accumulation.  

Finding a second life for unused assets recovers capital and contributes to the company’s circularity goals. Requis’ latest development, Asset Visibility, resolves inventory and surplus management problems, and addresses procurement needs. 

Table 1. User benefits with Requis’ Visibility tool

Why are maintenance and turnaround projects always delayed? 

ERP and Material Management systems can often prohibit the user from organizing and hosting multiple asset lists (internal and external). Equipment information and data reside in silos among different company locations. The left and right hands don’t communicate, and the outcome of that dynamic is poor data quality. For many, lack of communication between project teams (maintenance, operations, procurement, and construction) across global c causes further breakdown, resulting sulting in scheduling delays that can derail maintenance and turnaround progress and extend downtime.  

Advanced digital tool unravels inventory management difficulties 

Requis’ Visibility resolves these prolific problems in material and equipment management by creating a digital warehouse. Operating on this platform, O&G companies can achieve timesaving and cost-reduction actions, such as: 

  • Cohesive communication: Company administration and coordination for workflow and approvals are centralized; multiple users can complete different tasks across the Identity through the settlement process, including approvals.  
  • Collaboration: The platform supports the flexibility to add key operator partnerships, such as third-party warehouses and suppliers, to host inventory. 
  • Monetize Surplus: Surplus asset information can be cross-referenced with product catalogs hosted on the Requis platform. 
  • Process Automation: Companies can seamlessly move selected surplus assets to the Requis Operator Forum or Requis Marketplace to sell on the open market without manually reentering the information. 

“We are launching a new product this year: Requis Visibility. With a click of a button, Energy & Resources operators can map, share, and access their peers’ material and equipment inventory globally in a central and collaborative digital warehouse,” Richard Martin, CEO, Requis. 

Table 1. User benefits with Requis’ Visibility tool

In addition, the Visibility module is designed with the –user in mind. Table 1 summarizes additional time-saving attributes to improve the project team’s productivity.  

Value in partnering with your digital technology provider  

Many technology developers have digital products focused on procurement and supply-chain improvements. What sets Requis apart from the others includes: 

  • Requis is the only marketplace 100% focused on the O&G industry  
  • Requis is the only global marketplace with dedicated resources and partnerships in critical O&G regions. 
  • The company’s Circularity team has over 150 years of combined experience in O&G, including roles with energy producers, pipe distributors, and other e-commerce platforms. 
  • More importantly, Requis assists clients in identifying, tracking, Evaluating, and redeploying/Disposing of their assets.  
  • The Requis Platform has over 10,000 registered users in over 60 countries involved in procuring and selling O&G assets. 

Get Requis Visibility Software Today

“Requis’ Visibility module will give maintenance turnaround and asset management teams, supply chain professionals, and project managers access to material available locally or internationally. Requis brings transparency and collaboration to your inventory and surplus,” Vincenzo Nici, Director of Platform Management, Requis. 

Don’t hesitate to contact us to learn about Requis and how we can simplify your procurement and circularity efforts.  

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