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KOIOS Master Data

ISO 8000 will improve productivity growth in the oil and gas sectors

04 September 2017 08:45

FOR IMMEDIATE RELEASE

Some economists believe one cause of Britain’s weakened productivity growth since 2007 is partly due to the falling productivity in the oil and gas sector. Therefore, this whole sector is currently under pressure to improve both direct and indirect processes.

A recent study by the Oil & Gas Journal Online Research Center recommended the industry (i) adopt data standards and processes, and (ii) use technology, automation and industry standards for data cleansing, processing and sharing -- to free valuable time of high-end data consumers and improve efficiency.

Manufacturers already use international standards for their quality management processes, such as ISO 9001, and for their manufacturing standards such as ISO/TC 67 but not the data that defines their product specifications. It makes perfect sense for these companies to implement data standards, and ISO 8000, together with ISO 22745, are fast becoming the de facto data standards for this.

The Kingdom of Saudi Arabia, as part of their Vision 2030 program, has developed a National Industrial Strategy (NIS) with ISO 8000 at its core. During this summer of 2017, exporters of industrial items have begun to receive notifications requesting that they comply to ISO 8000. This will enable Saudi Arabia to automatically charge the correct import tariff, speed up the import process, and importantly enable companies based in the Kingdom to benefit from product specifications meeting stringent data standards. Saudi Aramco, officially the Saudi Arabian Oil Company, most popularly known just as Aramco, is leading this initiative. Other global companies in the sector are currently examining the tangible benefits in adoption of this standard.

In the oil and gas processing industries, there are millions of product identifiers for all types of products and services across the global supply chain. In an electronic marketplace, buyers need to correctly identify suppliers and product part numbers to successfully purchase the right item. Incorrect product numbers and incomplete supplier information can jeopardise the efficiency of the procurement system, costing businesses both time and money through lost production and increased downtime. It all adds up to millions of dollars per annum and with it a significant loss in productivity.

The business challenge, particularly for UK organisations in the oil and gas sector, is to streamline the order process and eliminate these errors, thereby significantly increasing productivity, whilst at the same time making products and services more attractive to international buyers.

Adoption of these ISO data quality standards require each company to register a unique prefix, and then publish their technical dictionary, and their product specifications in an open searchable registry. The prefix acts like a Domain Name System address and points buyers to the source company. All specifications can be downloaded in machine readable form, enabling everyone and every system in the supply chain to share the exact same data. This results in elimination of failed orders as well as elimination for expensive, time consuming data cleaning services.

KOIOS Master Data, based in the UK, have launched a software suite that enables companies to structure their data in accordance with the ISO 8000 requirements. Following the launch of the pioneering KOIOS 22745 Content Engine and the KOIOS 8000 Technical Spec Converter software, companies can publish a technical dictionary and create an ISO 8000 compliant Product Specification for their products in as little as three days!

KOIOS are giving regular presentations to interested parties in the oil and gas sectors.

For further information, please contact KOIOS on www.koiosmasterdata.com


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Press Contacts

Peter Eales

Chairman

Tel: +44 (0)23 9387 7599

Email: peter.eales@koiosmasterdata.com

Simon Towner

CEO

Tel: +44 (0)23 9387 7599

Email: simon.towner@koiosmasterdata.com


About KOIOS Master Data

The KOIOS cloud based online community of international manufacturers and distributors is a leading trusted source of manufacturing product information globally making it much easier for businesses to trade internationally.

By ensuring all product data in the KOIOS repository complies fully with ISO 22745 and ISO 8000, buyers can rest assured that the products they find and buy have accurate and complete detailed specifications, where the data sources are well defined and known, and where language constraints are no more.

Manufacturers will increase sales by reaching a large market, and buyers will gain cost-savings and operational efficiency by simplifying how product data is sourced.

At KOIOS Master Data we have a suite of software products that make the transition to ISO 8000 very simple and straightforward for manufacturers. Using our content engine and integrations into partner technology, such as Quiplab and ECCMA, we can have manufacturers complying in next to no time.

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