Enhancing Supply Chain Efficiency in the Oil and Gas Industry: The Role of Digital Transformation in ERP Systems for Real-Time Analytics and Decision-Making
Research and Analysis Journal
Vol. 7 No. 03 (2024),Volume
2024
,
Page 01-27
https://doi.org/10.18535/raj.v7i03.394
Abstract
The oil and gas industry faces increasingly complex supply chain challenges, including operational inefficiencies, demand volatility, and the need for enhanced decision-making capabilities. Enterprise Resource Planning (ERP) systems have long been pivotal in managing supply chain processes, but traditional systems struggle to meet the demands of a dynamic and data-driven environment. This study explores the transformative role of digital technologies—such as IoT, artificial intelligence, blockchain, and real-time analytics—in modernizing ERP systems to enhance supply chain efficiency. Using a mixed-methods approach, the research analyzes primary data from industry stakeholders and secondary data from case studies to evaluate the impacts of digital transformation. Key findings reveal significant improvements in supply chain performance metrics, including reduced operational costs, better inventory management, and improved demand forecasting accuracy. This study also identifies the challenges of implementing digital ERP systems, such as cost barriers and technological integration issues, and proposes a framework for effective adoption. The insights from this research provide actionable recommendations for stakeholders aiming to optimize supply chain operations in the oil and gas sector.
- Supply Chain Efficiency, Digital Transformation, ERP Systems, Real-Time Analytics, Oil and Gas Industry, IoT, Artificial Intelligence, Blockchain, Demand Forecasting, Inventory Management
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