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Unique collaboration creates solution to cut inventory management costs

Add Energy, a leading international consultancy, service, and software provider has announced a significant collaboration to lead the way in digital transition and full cycle efficiency for inventory and spare part management.

[Left to right] Steve McHardy, Peter Adam, Nick Abram

Add Energy’s Asset and Integrity Management division has joined forces with Craig International and AH Asset Solutions to create an end-to-end, efficiency-driven inventory, procurement and logistics optimization solution which provides significant time and financial benefits.

The alliance is believed to be unique within the market and the collaborative approach successfully combines niche skills to create a globally scalable option which carefully manages inventory to save money, increase productivity, generate income and minimize downtime.

Add Energy’s award-winning suite of inventory management software solutions can not only verify stock, but also build and optimize materials data and track and manage parts in the most efficient and effective way possible. Cleansed and enriched data can then be used to access buying and selling options which are hosted by Craig International’s eBuy and smartbuyer online procurement platform which gives simple, online access to more than 60,000 customer hosted products, access to procurement specialists and pre-qualified vendors across the globe from their 8 regional bases. As well as unlocking cost savings of up to 15%, the system can reduce the number of suppliers by up to 60%.

Completing the circle is AH Asset Solutions who have a lengthy and enviable track record in working with major energy producers to provide comprehensive surplus asset evaluation and disposal services.

Peter Adam

Commenting on the work, EVP at Add Energy, Peter Adam said: “As the energy sector continues its drive towards carbon reduction, this new relationship will embrace the opportunities which exist in completing and strengthening the supply chain circle by working together.

“By leading in our respective niches and coming together in this unique combination, we are effectively acting as the ‘middleman’ in unlocking efficiencies and encouraging the supply chain to rethink how it deals with surplus inventory whilst taking away the burden of dispersal from our client.”

Steve McHardy

Steve McHardy, Joint Managing Director at Craig International commented: “Change is needed to streamline existing processes and increase efficiency, and yet there is less resource within most companies to keep on top of inventory surplus and requirements. By pooling our areas of expertise in this ground-breaking relationship, clients have a new, accessible and hassle-free way of dealing with inventory challenges.”

Nick Abram

Commenting on the carbon reduction benefits of this solution, Nick Abram at AH Asset Solutions said: “By selling off unneeded stock, companies will benefit from reducing their carbon footprint through repurposing parts whilst gaining capital back into their business, without having to invest any time or effort into the process, a proven approach that has already been adapted by many energy producers in the North Sea alone.”