Asset Excellence Consultancy
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
Category: Developing and Implementing an Asset Management Strategy
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.
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.
What people say about us
“Arvid helped us to redefine our commercial strategy. His business wisdom, his energy and sense of humor made it wonderful to work with him and led to clear decisions, executable plans and ultimately 50% growth.”
CEO, Intelligent Automation
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Director, Cultural Organization
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SCM manager, Oil & Gas