Based on the recent analysis of the North American upstream oil & gas supply chain market, Frost & Sullivan recognizes GoExpedi, innovative e-commerce, supply chain and analytics company that is reinventing procurement for industrial and energy MRO (maintenance, repair, and operations), with 2020 North American Competitive Strategy Innovation and Leadership Award. By leveraging industry 4.0 technologies, GoExpedi has created an online procurement platform that provides access to a wide network of suppliers. It reduces ordering time by more than 500% and decreases downtime cost by more than 25%, all while retaining existing workflows for easier user adoption and shorter learning curves.
GoExpedi has reimagined the oil & gas procurement process by leveraging new tools such as advanced analytics and Web 4.0 technologies. Balancing its vision of modernizing the industry’s logistics management with customers’ short-term performance needs, it has designed an advanced digital procurement platform. Its product navigation includes interactive schematics of over 200,000 products, from pumps, valves, sensors, and gauges to their recently expanded electrical equipment category of fuses, breakers, relays, and more, and employs artificial intelligence (AI) for advanced product suggestions.
Meanwhile, with supply chains being disrupted by the current COVID-19 pandemic, GoExpedi has presented the industry with a new trust-based partnership model that helps companies and suppliers respond quickly. Through GoExpedi’s secure online platform, end users can securely share their process needs, product requirements, and safety certification requirements with suppliers. Another significant differentiator is the company’s capability to provide comprehensive management of every upstream operator’s supply need, including key assets such as pumps and compressors, operational necessities such as pipes and fittings, and consumables such as welding rods.
