Most people assume that RPA can only be helpful in a few industries. However, it is not the case. You can implement RPA in any industry and business with the right approach and knowledge. Today, Agile Managex Technologies will discuss how RPA can aid inventory management in the oil and gas industry.

Before continuing, we recommend reviewing our RPA bots to understand how these bots work and can add value to your business. Don’t forget to review ‘Things Business Leaders Need to Know About RPA’ before implementing RPA in your oil and gas business. It will ensure you don’t make any mistakes when implementing RPA.

RPA & Inventory Management in Oil and Gas Industry

1. Automating Inventory Management Processes

A critical part of inventory management is counting, tracking, and ordering inventory. Undoubtedly, these are time-consuming and repetitive processes. RPA can help automate these processes. The bot will continuously keep track of the stock and then re-order the product if it falls below the minimal level. RPA removes the possibility of human error in inventory management and ensures your business always has access to the relevant stock.

2. Real-time Inventory Management

A large organization manages inventory across multiple locations. It can be challenging to real-time monitor all the sites. With the help of RPA, inventory management is no longer a hassle. The bot will monitor inventory levels across all locations. If a product falls below a certain threshold, it can generate an alert or even order the part.

3. Reducing Costs

Manual inventory management can lead to over or under-stocking. Both can negatively impact your business. Suppose you need to install wireless IT solutions on a client’s premises. However, you realise you don’t have enough stock of a critical component such as a router. It can ruin your business relationship and may even invite financial penalties. Hence, automating your inventory management will reduce costs associated with manual inventory management.

4. Better Data Management

There’s no need to manually enter the data, track inventory, or update the relevant stakeholders. RPA solutions can automate the entire process, removing the need for manual work. You can make better decisions with a central depository of your inventory management data.

5. Purchase Orders

Another way RPA can aid in inventory management is by automating the purchase order process. Whenever an inventory falls below a threshold, the RPA bot creates a purchase order and then shares it with an existing list of suppliers. After receiving their response, you can program the bot to respond to them.

For instance, if you want to select the least cost supplier, the bot can automatically do it on your behalf. You can assign your human resource to more critical tasks, such as achieving sustainability across the inventory management process or working to diversify the supply chain.

Conclusion

Overall, there is no doubt about the benefits of RPA in inventory management in the oil and gas industry. It can automate the entire process helping you achieve cost savings and improve efficiency. Contact us for further information about how we can add value to your oil and gas business with our RPA and managed IT services.

Share: