Softening the Blow of Plunging Oil Prices [White Paper]
May 24, 2016 - By: Bill Adams
Why Procurement Professionals Are Leveraging Contract Compliance Audits to Maximize Supplier ROI and Reduce Intense Cost Cutting Initiatives
Today’s oil and gas executives are at a crossroads.
With a weak global economy and oil prices at a 15-year low, many are being pressured to slash costs in as many areas as possible, including headcount, capital projects, and indirect costs.
However, while some cost cutting is necessary, many executives know that overly aggressive actions can backfire, undercutting the company’s long-term reliability, quality, relationships, and performance.
Fortunately, procurement professionals can help by steering executives toward more balanced solutions, such as analyzing supplier contracts to identify non-compliance and recover lost profits.
In this white paper, we explore the various market challenges facing oil and gas executives, as well as the forward-thinking approach many procurement professionals are taking to improve efficiency, transparency, and cost savings—without compromising the company’s future success.
Download now to learn more.