Source: oilfieldtechnology
Through Vroozi’s platform, Thomas Supply now offers equipment and hardware from their inventory for purchase or rental to contractors and related entities. The system automatically monitors inventory levels and triggers purchase requests when supplies run low, while managing all associated data and transactions.
“What sets this implementation apart is its handling of direct materials procurement, which requires precise tracking of material numbers and inventory levels,” said Shaz Khan, Co-founder and CEO of Vroozi. “While most P2P systems focus on indirect materials – the 80% of suppliers that represent a smaller portion of spend – our platform extends control to direct materials procurement, connecting inventory management systems with procurement workflows in ways that haven’t been seen before in P2P solutions.”
“We approached Vroozi with a clear vision to integrate systems that provide critical business information and ultimately help drive data-driven decisions with more spend under management,” said Ed Esqueda, Supply Chain Director at Thomas Oilfield. “Our initial objective was to integrate warehouse management and inventory management for automated reordering, but what began as a procurement solution evolved into the foundation for an entirely new business division. The system’s ability to automatically manage material numbers and maintain real-time inventory accuracy has been crucial to our success. Looking ahead, we’re already planning our next phase to incorporate IoT devices throughout our warehouses, which will further enhance our operational capabilities and cement our position as an industry innovator.”
Key features of the implementation include:
- Automated inventory monitoring and reordering.
- Real-time integration with Thomas Oilfield’s NetSuite ERP system.
- Automatic creation and management of material numbers.
- Digital marketplace for contractor purchasing and rentals.
- Comprehensive supplier qualification and risk management.