BP refines intelligent saving plan

15 July 2009

16 July 2009 | Rebecca Ellinor

A BP procurement team has directly achieved $20 million (£12 million) savings in the past two years and contributed to at least $690 million (£414 million) more in 2008

The eight-strong team, in refining and marketing (R&M), made savings through improved market intelligence (MI). Its work included setting up an MI portal for market data and research, live news feeds relating to strategic suppliers and specific industries as well as other MI tools and resources. BP staff worldwide can access this portal.

The team also established an inflation model to forecast price changes, particularly for volatile commodities, and analysed supply markets. The information on trends and potential price fluctuations provided to buyers and internal customers has boosted negotiating power.

Greg Dyer, R&M market intelligence manager, based in the US, told SM: "We have a better outlook on what's happening and what's going to occur than our competitors. That will drive our ability to buy more effectively."

The success of the work has led to the introduction of MI teams in BP's exploration and production division, and indirect procurement.



SMjul2009

LATEST
JOBS
Swindon, Wiltshire
upto £40K base (+ Paid overtime and corporate benefits)
Honda Manufacturing Ltd
Kew gardens, Richmond upon Thames, London (Greater)
£37,000 - £42,500 per annum pro rata, depending on skills and experience
Kew Royal Botanic Gardens
SEARCH JOBS
CIPS Knowledge
Find out more with CIPS Knowledge:
  • best practice insights
  • guidance
  • tools and templates
GO TO CIPS KNOWLEDGE