Found Ocean Case Study

The Supply Chain Consulting Group Develop Global Asset Management System For Subsea Construction Company

 

FoundOcean is a subsea and offshore grouting specialist for the global energy subsea construction industries. Its primary business is securing structures such as wind turbines and oil platforms to the seabed by foundation grouting; alongside specialist projects including constructing the underwater concrete platform to support the Costa Concordia.

FoundOcean HQ and primary offshore service-base and warehouse is in Livingston, Scotland.  Its specialist subsea and offshore engineering equipment is located at strategic out-bases for rapid deployment in key energy producing areas of the world including Europe, the Gulf of Mexico, South East Asia, India and the Middle East. 

FoundOcean contracted The Supply Chain Consulting Group (SCCG) to develop a system and process to manage and control the supply, usage and replenishment of 1000s of ancillary, consumable and safety equipment items in their global supply chain, including the UK Offshore Service centre, remote storage locations and the offshore construction vessels.  

FoundOcean has approximately 5,000 different SKU’s (rising due to NPI) in their plant, consumables, spare parts, re-usable equipment and PPE stock list; varying greatly in size, weight and function. The key issues that FoundOcean were experiencing included lack of visibility of stock usage and location due to usage and movement not being recorded correctly, or stock being misplaced, as well as stock used on different contracts to which it was allocated; causing inaccurate cost apportionment between contracts, stock-outs and the on-costs of equipment special deliveries to remote offshore locations. The SCCG team were tasked to meet four key objectives in the development of a suitable Asset Management and Stock system (AMS) to accurately trace consumables, spare parts and portable/reusable equipment across the globe. 

The specialist consultants worked closely with the cross functional FoundOcean project team (including representation from finance, technical, support, operations, engineering and commercial) to ensure that the complex business processes were fully understood. SCCG developed an innovative AMS Operational Requirement Specification and all associated detailed SOPs to ensure that all principle areas could be met through successful implementation and on-going management; first by immediately implementing SOPs for the physical process, recording movements onto a central stock database to be subsequently integrated into the ERP system as the medium to long-term strategy. 

The system specification provides a solution to manage FoundOcean’s assets (with hand-held barcode scanners) and repair and maintenance operations, across multiple locations and global contracts simultaneously. It also facilitates internal contract reporting requirements, including accurate cost and time management reports. 

“The Consultants formalisation of the asset management process enabled FoundOcean to kick-start the implementation of our ERP system, which will have wide-ranging benefits across the Company.”
Neil Smith, Finance and HR Director – FoundOcean

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