Nayara Energy – MDO

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Nayara Energy utilizes MDO Live Auctions to generate Savings

Nayara

Industry: Oil and Gas

About Nayara Energy

Nayara Energy is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to refining and oil retail. In order to realize better savings and compliance and effective cost analysis, the procurement team understood the need of a cost effective sourcing solution. ConnektBizOnline application was introduced to as the platform through which Nayara fulfils its sourcing requirements through the Live Auction module.

Business Challenges:

The business required a solution to manage their Supplier management and sourcing strategies. The key challenges included:

  • Ineffective Vendor Management.
  • Unable to fetch reports on savings and spend across various categories.
  • Difficulty in tracking quotes and bid values from offline and manual sourcing process.
  • No definite approval and pre-qualification process of vendors.
  • Unable to track vendor orders against product categories.

Business Benefits:

MDO helps Nayara to streamline their sourcing process with a structured, transparent and accountable process flow to reap enhanced ROI and business benefits. MDO also:

  • Enables vendor evaluation through its portal.
  • Generates savings through quick and effective live auction events.
  • Maintains product catalog.
  • Easily rolls out events of categories across multiple departments.
  • Provide reports to analyze spend patterns.