Costly investments, complex operations, stringent regulations, and lack of visibility for decision-making are just a few of the challenges hampering effective supply chain performance for Oil & Gas companies.

Those companies look to data standards to help increase supply chain efficiency – a key driver in improving business performance.

Current technologies offer a broad range of data standards, each providing unique benefits. The problem is, integrating data from multiple systems into a unified industry supported data model becomes complex if not technically impossible.

However, two standards make the top of the list for supply chain performance;

• PIDX (Petroleum Industry Data Exchange), and
• UNSPSC (United Nations Standard Products and Services Code).

This article is part-one in a three-article series, designed to provide Oil & Gas industry members a MDM roadmap in which PIDX and UNSPSC standards deliver improved supply chain business performance.