This article was published on: 26/06/20 3:02 PM
How important is an ERP System for a Petrochemical – Oil and Gas Industry?
“Continuous improvement is better than delayed perfection..”
The oil and gas industry started in India in 1889 when the first oil deposits were found near the town of Digboi in Assam. The natural gas industry in India began in 1889 when the gas fields of Assam and Gujarat were discovered. The oil industry is also known as the petrochemical industry or the oil patch. It includes the global processes of exploration, extraction, refining, transporting, and selling of petroleum products. The largest products of this industry are fuel oil and gasoline. Petroleum is also the raw material for many products, such as pharmaceuticals, fertilizers, pesticides, and plastics. The expensiveness of oil and its products has led to it being known as black gold. Oil is a part of a large percentage of the world’s energy consumption. It ranges from a low of 32 percent in Europe and Asia, to a high of 53 percent in the Middle East. It is considered to be the biggest sector in the world in terms of dollar value.
The Industry leaders are always on their toes to meet the ever-increasing demand of the commodity as well as managing between the fluctuating regulations and resources. The implementation of a best fit ERP software solution can simplify the entire process with its agility and flexibility to get apt with the user’s needs. Moreover, oil and gas are in need of careful handling, for which an ERP software can provide a cautious warehouse and supply chain management application to automate the process with ease.
The oil and gas industry is divided into three areas: Upstream, Midstream and Downstream.
They can be defined as follows :
- Upstream – It involves the search for underwater and underground natural gas fields or crude oil fields and the drilling of exploration wells and drilling into established wells to recover oil and gas.
- Midstream – It involves the transportation, storage and processing of oil and gas. Once resources are recovered, it has to be transported to a refinery, which is often in a completely different geographic region compared to the oil and gas reserves. Transportation can include anything from tanker ships to pipelines and trucking fleets.
- Downstream– It refers to the filtering of the raw materials obtained during the upstream phase. This means refining crude oil and purifying natural gas. It also involves the marketing and commercial distribution of these products to consumers in a number of forms like natural gas, diesel oil, petrol, as well as a number of other types of petrochemicals.
ERP or Enterprise Resource Planning is a must-have wizard tool for the oil and gas industry. This industry is among one of the early adopters of an ERP system. This is because a major section of the industry is dependent upon the precise workflow management and market analysis. An ERP system can increase the efficiency of the industry, while it also helps you to manage and balance multiple projects and operations effectively. Moreover, ERP systems for oil and gas industry provides us with easy to use modules such as sales and purchase.This can enhance and streamline our business.
How an ERP system help the petrochemical industry grow :
- It can easily integrate with all applications and business management tools. This provides a single platform for all operations.
- It effectively manages project planning, scheduling, inter department communication, etc. This optimizes all industrial processes.
- It provides detailed project and market analytics for better sales performances.
- It manages various currencies, foreign policies and compliance and finances with ease.
The world uses nearly 36 billion barrels of oil every year. The USA is the leading oil producer in the world, followed by Russia and Saudi Arabia.
With a best fit cloud ERP software in a petrochemical industry one can easily improve and become a top industrialist and can achieve great heights. You can manage multiple orders at the same time just under one single systematic software.
Expand is India’s best-fit ERP on cloud for the Retailers & Exporters in midsized manufacturing business.
It drives business efficiency with ease by perfectly fitting into the existing business process and effectively automating most complex processes, unlike many such ‘one size fits all ERPs’ which doesn’t give desired results to specific businesses. With Expand ERP one can manage his entire business completely online. With over 15 years of extensive R&D and market testing, it is a unique software which is curated to fit best into your business needs.This ‘made in India’ software seamlessly ﬁts into Indian Business. Further, to fit best to the business, we focus on export and retail domains only.
To know more about Expand ERP and how it will transform your business operations please allow us to arrange a demo by our BizTech Expert. Call 09007026542 or leave a message below and we will get back to you shortly.