In a low-cost environment where operational budgets are decreased, an ongoing demographic change toward a younger workforce due to the “big crew change,” and emerging digitalization of technologies, oil and gas industry executives face the challenge of ensuring continued operational excellence in their projects. The results of a recent survey on “Achieving Operational Excellence” show that businesses are increasingly aligning their strategy with scalable, enterprise-wide transformation.
Conducted by Progressly, a cloud-based operational performance management solutions provider, the survey was conducted among 500 global executives, with 65% of them from the energy industry. The other sectors included healthcare, retail, transportation, public sector, and manufacturing. The survey participants were asked questions on how they are pursuing key initiatives in their businesses and the problems they encounter in achieving them.
A key finding of the survey indicated that 90% of respondents identified improved competitiveness as the primary outcome they expect, and that delivering customer value was their organization’s top challenge in operations. Empowering lines of business without information technology (IT) reliance, IT itself, and real-time data and analysis were the most commonly identified initiatives toward achieving operational excellence.