Project Overview
Swire Energy Services U.S team supported a Major Operator in the Gulf of Mexico to realise significant cost savings through the introduction of a intuitive report from our track and trace solution, OverVu, that identifies equipment dwell times in vendor yards.
Project Location
Gulf of Mexico
Service/Product Provided
- Rental of a full scope offshore containers
- OverVU; Track and Trace Solution
- GPS tagging on all units
Clients Key Challenges
- Ensuring rental offshore containers did not dwell in vendor yards for longer than 5 days.
- Given the vast geographical movement of equipment in GoM, monitoring idle time was a daunting task (100's of miles offshore between Louisiana, Alabama and Texas).
- Total cost of dwell time was significant but lack of visibility made it difficult to realise cost saving opportunities.
Scope of Work
After reviewing the client requirements Swire Energy Services proposed an OverVu asset tracking campaign, where the team would work directly with the client to ensure vendor dwell time was effectively captured and translated into actionable value-adding data.
Solution
Together with the client, 91 specific vendor zones were defined and created in OverVu. This allowed the team to create a actionable dwell time KPI report in one simple excel format.
The report was automatically delivered via email on either daily, weekly or monthly intervals defined by the client. Each report line also included a hyperlink so the client could be taken directly to the specific asset in OverVu and instantly see its status and reporting history in one click.
The 'On Hire and Conformance Dwell Time report' that was created includes four key areas ;
- Units on rent; Allows the client to easily visualise the number of units on rent with a colour coding system.
- Certification status; Gives the client the ability to monitor certification status utilising a colour code system for easy identification of units going out of certification.
- GPS locations; Identifies the last known GPS location of the unit to identify true status of equipment.
- Days in vendor zone; Highlights the number of days units are sitting in each vendor site to identify where the high dwell times are occurring.
OverVu Benefits Realised
The client's Equipment Coordinator received the 'On Hire and Conformance Dwell Time' report every week to assist them in determining the weekly activities.
This process included;
- Disregard all units that have been in a vendor zone for less than 5 days as they may be in a load out status and in the process of being utilized.
- Targeting units that have been in a vendor yard for the longest period of time.
- Contact vendor to see if there is a legitimate reason for the unit being idle.
- Inspect yards that do not provide a satisfactory response to idle time.
During one of these inspections the Coordinator located a piece of equipment with rental costs that had been sitting idle and unutilised in a vendor yard for an extended period of time. The unit was returned and credited resulting in a $500,000.00 savings.
Working With Our Customers
The client realised significant cost reductions by efficiently employing OverVu in their daily operation to locate idle equipment in vendor yards. Swire Energy Services is constantly working with our clients to ensure that OverVu is being utilised to help find more opportunities for logistical and operational efficiencies and savings.
At present work is ongoing with the client to increase the 'dwell time' benefits realised from OverVu for onshore locations, as well as offshore.