Asset Excellence Consultancy
at OOMCO

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Developing and Implementing an Asset Management Strategy

Challenge: As a retail company in oil and gas, OOMCO has a huge number of retail and commercial locations for fuel supply. Up until 2014, the company had no strategy for asset management. This complicated tracking and tracing, and hampered the redeployment and retirement of assets on the basis of accurate operational and financial information.

Relation: Oman Oil Marketing Company (OOMC)
Period:
October 2014 – December 2015
Website:
www.oomco.com
Category:
Developing and Implementing an Asset Management Strategy

Solution
To enable asset management, we developed an asset management strategy, both financial and operational. Three teams of OOMCO representatives traveled throughout Oman to inventory assets in 165 stores and approximately 300 commercial locations. Based on their findings, we designed, built and filled a database with financial and operational information. Subsequently, we anchored the strategy in the organisation.

Results
Depreciation profit and a financial result of 400,000 OMR created low-hanging fruit. In addition, new retail and commercial projects generated higher profits due to process improvement and more effective asset purchases. Ultimately, a more accurate depreciation schedule has been developed to generate a better financial register.

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Asset Excellence Consultancy
at OOMCO

To enable asset management, we developed an asset management strategy, both financial and operational.

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How can it work for my
company and people?

We believe, that an organization is organic. It should develop through (anticipated) changes in its markets, customers and environment. The aim of this development is always improvement. Improvement by people.

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