Course Overview

What is the supply chain for gas and oil?

The oil and gas sector are expensive and fraught with danger. The high-value contracts that are negotiated with suppliers frequently have weak provisions, which causes issues and income leaks for the sector. Is it possible to handle contracts so that vendors cannot take advantage of any gaps?

The regular commotion at work may serve as a mask for a number of incidents or oversights in company dealings that could end up costing the sector dearly. What are these transactions, and how can managers be made more aware of the need to look out for revenue leaks that are severely hurting this industry?

Employees often find that traditional corporate practices are so comfortable that they don’t see the need to alter.

Change might not be obvious enough for managers to notice, so they might keep concentrating on what they always do, not recognizing that their existing procedures are the root of many of their difficulties at work and the reason for their subpar performance.

For the oil and gas industry, carefully crafted processes that fit the current business environment might result in performance breakthroughs.

What does the oil and gas industry’s procurement mean?

Greater savings for the oil and gas sector can be achieved through supplier knowledge and their respective sectors than through harsh and merciless bargaining. Suppliers are a fantastic source of ideas. Whether it’s a better procedure, a new market, a new technology, or an alternative material, these ideas help businesses achieve remarkable performance gains that may not be possible through negotiations alone.

Businesses that take into account the competitors of their suppliers fail to look into the growth opportunities that a well-thought-out supplier management plan may present.

All of the topics we have covered thus far and much more are covered in the Procurement course offered by Training Bee. In addition to teaching beginners the basics of procurement, it also demonstrates to seasoned experts what adjustments they can make to their daily practices to achieve breakthrough performance and support the industry in achieving its goals.

Introduction

Greetings and welcome to the “Oil and Gas Procurement Process and Strategies” training program. This extensive course will provide you the fundamental information and abilities required to successfully negotiate the complex procurement environment in the ever-changing oil and gas sector. Effective procurement is now essential to the success of projects, so it’s critical to recognize the particular difficulties and use strategic methods.

The purpose of this carefully designed training program is to teach participants a comprehensive grasp of the full procurement lifecycle within the oil and gas industry. Throughout our curriculum, we will examine supplier relationship management, strategic sourcing, risk mitigation, regulatory compliance, and technology integration to streamline procurement procedures.

We are The Training Bee, a global training and education firm providing services in many countries. We are specialized in capacity building and talent development solutions for individuals and organizations, with our highly customized programs and training sessions.

Prepare yourself for an intense educational experience that will enable you to succeed in the demanding and ever-changing domain of oil and gas procurement. Together, let’s start this educational trip!

Learning Objectives

Upon completing Oil and Gas Procurement Process and Strategies Masterclass, participants will be able to:

• Participants who are new to procurement will learn the fundamentals of buying
• Delegates will get knowledge about various important aspects of procurement.
• Skilled experts acquire knowledge about how procurement, when properly applied, can support an organization’s strategy development.
• Professionals understand organizational objectives and make the necessary adjustments to ensure their survival and success.

Our Unique Training Methodology

This interactive course comprises the following training methods:

• Journaling – This consists of setting a timer and letting your thoughts flow, unedited and unscripted recording events, ideas, and thoughts over a while, related to the topic.
• Social learning – Information and expertise exchanged amongst peers via computer-based technologies and interactive conversations includingBlogging, instant messaging, and forums for debate in groups.
• Project-based learning
• Mind mapping and brainstorming – A session will be carried out between participants to uncover unique ideas, thoughts, and opinions having a quality discussion.
• Interactive sessions – The course will use informative lectures to introduce key concepts and theories related to the topic.
• Presentations – Participants will be presented with multimedia tools such as videos and graphics to enhance learning. These will be delivered engagingly and interactively.

Pre-course assessment

Before you enroll in this course all we wanted to know is your exact mindset and your way of thinking. For that, we have designed this questionnaire attached below.

• Give the definition of “procurement” as it relates to the oil and gas sector.
• Describe the essential elements or phases of the oil and gas industry’s procurement process.
• What role do these elements have in the overall success of initiatives involving oil and gas?
• Talk about how crucial regulatory compliance is while buying oil and gas.
• Describe the meaning of Supplier Relationship Management (SRM) and how it applies to the procurement of oil and gas.
• What role can efficient SRM play in making oil and gas projects successful?
• Determine any possible dangers connected to purchasing in the oil and gas sector.
• In what ways may an effective risk management plan lessen difficulties when it comes to purchasing oil and gas?

Course Outline

This Oil and Gas Procurement Process and Strategies Masterclass covers the following topics for understanding the essentials of the Agile Workplace:

Module 1 – Acquiring

• Comprehending Purchases in Detail
• Recognizing Purchase order, RFQ, Statement of Work, and Purchase Requisition
• Recognizing the various needs listed in the purchase order

Module 2 – Having Knowledge of Procurement Technology

• Planning of enterprise resources
• Electronic sharing of data
• Systems for managing inventories
• Systems for managing fleets

Module 3 – Types of Purchases in the Oil and Gas Sector

• Entertainment and Travel (T&E)
• Catalogue procurement
• Planning for material requirements (MRP)
• Orders generated by a system

Module 4 – Record-keeping

• Recognizing specifications and their varieties
• Recognizing traps in specifications

Module 5 – Selection of suppliers

• Choosing a Provider
• Organizing supplier data

Module 6 – Measures for assessing the performance of suppliers

• Ratio of inventory turns
• Cycle of cash to cash
• Yield on sales
• Days of Outstanding Sales
• Fixed ratio of asset turnover
• Yield on assets
• Ratio of interest coverage

Module 7 – Instruments for making costly decisions in the oil and gas sector

• Making-Decision Tree
• Make or purchase choices
• Return on internal capital
• Reasoning with real possibilities
• Present value of net
• Payback time
• Pareto technique

Module 8 – Management of Oil and Gas Leaks

• Spend Analysis: An Overview and Interpretation
• Comprehending the application of expenditure analysis to optimize benefits and reduce costs

Module 9 – Risk management in the oil and gas industry’s high-risk business

• Utilize contracts to assign risks to your clients or contractors.
• Utilizing tenders to reduce dangers
• Contract Administration

Post-Course Assessment

Participants need to complete an assessment post-course completion so our mentors will get to know their understanding of the course. A mentor will also have interrogative conversations with participants and provide valuable feedback.

• How do these elements come together to guarantee effective procurement in the gas and oil sector?
• Consider the significance of adhering to regulations while purchasing oil and gas.
• Explain the role that successful Supplier Relationship Management (SRM) plays in making oil and gas projects successful.
• Name two risk-reduction tactics for the purchase of oil and gas, and then explain them.
• Give an example of a time when you effectively used a strategic sourcing plan in the purchase of oil and gas.
• What positive effects did the strategic sourcing method have on the procurement process’s efficacy or cost-efficiency?
• Talk about the training’s coverage of the contracting procedures for oil and gas procurement.

Lessons Learned

Integration of Components Strategically: Participants now know that the strategic integration of multiple components is essential to the success of oil and gas procurement. A comprehensive approach is necessary for everything from risk management and strategic sourcing to regulatory compliance.

Regulatory Conformance as the Basis: The significance of adhering to regulations has been emphasized as a fundamental component in the acquisition of oil and gas. Participants understand that following rules is essential to moral and responsible procurement procedures, in addition to being required by law.

The Key to Successful Supplier Relationship Management (SRM): Effective SRM is a prerequisite for successful oil and gas procurement, as the course has underlined. Establishing and maintaining solid relationships with suppliers is essential to the success of projects and long-term cooperation.

Preventive Risk Reduction: The participants have gained knowledge about the inherent risk in the oil and gas sector and the importance of proactive risk mitigation. To guarantee that project deadlines and budgets are fulfilled, this entails detecting, evaluating, and mitigating risks.

Efficient Strategic Sourcing: Applying strategic sourcing techniques has been emphasized as a way to improve the effectiveness and affordability of procurement for oil and gas. Participants are aware that sourcing selections made strategically affect the success of the project as a whole.

Contracting Superiority: It has been acknowledged that contracting procedures are essential to project success. Participants now have a better understanding of how to create contracts with clear clauses that protect the interests of all parties and reduce the likelihood of disputes.