Despite operating in an industry with highly technical specifications, the oilfield products and services field operates largely on strong communication between distributors and their partners on either side of the value chain. It is also an industry characterized by narrow margins, new entrants and increasingly vertical competitors. BLPS knew that despite their strong interpersonal skills, the best way to serve their customers and improve their margins was to further their core offering of service and selection with next-level technologies. This meant leveraging their historical ERP data and knowhow then investing in a new application layer that automates repeatable tasks and reports and builds a broader database that can tap past and current activities to predict forward trends.
Moving from a human-centric analog process towards a process that has been comprehensively digitized can present a host of challenges alongside the vast opportunities identified in advance of such pursuits. By partnering with Hypergiant, BLPS knew that they were collaborating with an organization that puts equal value on human and machine efforts. It is only by leveraging the enhancement potential inherent in artificial intelligence that BLPS could confidently evolve their company into something that is truly future-forward.
Over the course of the engagement, Hypergiant worked closely with the BLPS, SCOA & SCGTS teams to identify, document, and define the foundational architecture, needs, preferences, requirements, feature sets/functionality, user experiences, user interfaces, KPIs, constraints, and other critical elements needed to inform the development of the platform and prepare BLPS IT and the data environment for successful integration and deployment.
The Predictive Inventory Management solution is built around the users and, as such, the features meet their needs to ingest and process market indicators, automate key reports, visualize inventory information, access customer insights, and assess trends on bids and quotes to stay a step ahead of the competition. These automated tools save time, improve consistency and, ultimately, let users tackle value-add work. They are also the basis for AI applications including demand & sales forecasting, inventory optimization, and predictive analytics that provide recommendations for what to order, when to order it, and what prices should be expected.
Ultimately, this platform enables BLPS to drive down the amount of aged, high-risk inventory on-hand while improving their inventory turns with each customer. It also enables the user to step back from the spreadsheets and emails and see the bigger picture so they maintain market dominance.