The exploitation of natural resources is limited by the organic availability of such resources. But, professional expertise, in partnership with state-of-the-art technology, has the capacity to deliver exceptional solutions for exploration, extraction, production, management and sustainability of such resources within the umbrella of environmental safeguards.
The industry generates wastes and emissions and, therefore, enterprises will be in need of an array of services including environmental liability reports, assessment and review of remedial initiatives at legacy sites, estimation of outlays for site clean ups, evaluation of associated environmental risks in new facilities, and technical support in liability disclosure reports. Analytics of the data aggregated from field surveys, soil report differentiations before and after exploitations, bioavailability and forensic chemistry inputs will be the cornerstone of site risk and remedial evaluation.
Technology investments are inevitably the way forward for diligent measurement of green house gas emissions and adherence to climate change protocols for staying within the parameters prescribed by laws.
A digital enterprise will succeed in maximizing operational efficiencies right through the value chain:
- A cohesive technology architecture spanning exploration, extraction, beneficiation, manufacturing, logistics and sales and distribution will confer the advantages of maximizing asset utilization, manpower productivity and customer satisfaction, and minimizing costs, turnaround times and delivery schedules.
- Analytics propelled around decision making that is informed by impact visualization of financial, legal, environmental and productivity influences.
- value addition through research and development (R&D) targeting process re-engineering, system streamlining, energy conservation and astute asset management directly linked to measurable outcomes.
Enterprises must look for technology solutions that engage in precision analysis and condition based maintenance of productive assets and static infrastructure. Such solutions reduce the downtime to a bare minimum enabling optimum exploitation of asset value.
Technology driven algorithms suggest the ideal route and transportation mechanism for efficient delivery of the product to the customer minimizing transportation time and product loss through leakage and evaporation.
Customer Relationship Management
Customer Relationship Management requires application software that tracks customer satisfaction and feedback to ramp up service efficiencies and deliver superior experiences to customers.
Product pricing in the industry is one of the keys to profitable operations. Prices are typically volatile, fluctuating across geographies and time. Sophisticated software inputs that carefully analyze the probable impact scenarios of derivative instruments in the spot and futures markets are essential for intelligent decision making related to pricing and consequently to production planning and inventory holding. The software application would also evaluate the possibility of counterparty default making use of historical data.
The true value of digital technology is in the inherent capacity to manage seamless movement of data on real time basis across the entire value chain enabling management to virtually eliminate waste and maximize stakeholder benefits by boosting asset utilization and increasing operational efficiencies.
The natural resource industry, challenged by fluctuating commodity prices, green activism, changing laws, and customer demand for changed product configurations, will discover predictive end results through technology investments.