Making surplus stock earn its keep.

February 11, 2019

How collaboration can help you realise the value of stock without compromising availability.

In the oil and gas industry it’s essential to have pretty much instant access to equipment and supplies. Today, with oil price volatility at an all-time high and production shifting to harder, more expensive parts of the world, it’s more important than ever to maintain efficiencies and avoid delays. And few scenarios are as frustrating - and costly - as having a whole facility or crew waiting around for the delivery of a piece of equipment before work can get underway. Whether the work is in exploration, production, maintenance, repair or even decommissioning, time is money and availability is key.

Stocking for every eventuality — "we might just need it".

Understandably, businesses in our industry have historically tended to keep a lot of stock so that it’s readily available if and when needed. Applying a belt-and-braces approach has meant holding more materials and equipment than you’re ever likely to need at any one time - with potentially huge costs in storage, and significant capital tied up in stock that’s just taking up space and doing nothing.

If you’re sitting on surplus stock, you could be sitting on a gold mine. You’re also paying for the privilege of watching its value stagnate or fall.

A better way through collaboration.

Craig International is a leading procurement business working with major players in the oil and gas industries, right across the globe. We’re masters in strategy and logistics, collaborating with our clients to form seamless procurement teams handling sourcing, monitoring and delivery. Our customers have access to an unrivalled digital catalogue that provides simple online access to around 70,000 products across 1,000 categories.

So when we looked at the problem of surplus stock in the industry, we were convinced there was a better way to manage it. And now we’ve put it into action.

With a little help from our friends.

Our online ebuy service now incorporates Energy Surplus. It’s a collaborative trading platform that allows you to recoup value from your surplus stock, while maintaining rapid access to the materials and kit you really do need.

Say an oil business in Africa has drilling equipment in surplus stock, while another business in the United Arab Emirates (UAE) needs that precise bit of kit, fast. The African business lists their surplus stock with us on our ebuy platform, so the UAE-based enterprise can quickly log on and find it.

We’ll provide the platform to facilitate the business transaction helping the seller realise value from the stock and free up storage space. The buyer gets precisely what he needs, when he needs it, at a fair and competitive price. It’s win, win, all round.

List a little, a lot or something really old.

We recently uplifted and redeployed over 4000 items of surplus equipment from a client in the UK. That’s approximately 120 pallets of surplus stock items now back in operation. Just sign up to our online Energy Surplus collaboration service and you can list practically anything.

Once it’s on the platform, our customers all over the world can see your stock and ask for a quote through the system. You decide the price - and of course if circumstances change and you decide you need it yourself, you can just withdraw it from the catalogue.

Naturally it works both ways. When your own business needs something in a hurry, we give you a virtual peak into the stock rooms of hundreds of oil and gas specialist companies, all over the world. You can get an instant quote through the portal, often getting a better price and quicker delivery than if you had to deal direct with a manufacture or supplier.

Whether you’re buying or selling, all you need to do is agree the price and confirm the deal, we’ll just make it all happen!

Find out more - and WIN!

For more information on Energy Surplus, visit https://ebuy.craig-international.com/collaboration-information/.

LinkedIN Competition

When our team realised we had a brand new SONOS PLAY 1 speaker surplus to requirements in the office cupboard, we thought it would make a great prize for our Energy Surplus Competition. Visit our page on LinkedIn https://www.linkedin.com/company/craig-international-ltd/ for a chance to win the speaker and a £100 luxury hotel voucher — good luck everyone!