Decision Errors in Vendor Selection
Definition
Manual handling of RFQs and bidder spreadsheets leads to poor visibility, resulting in higher costs and project delays in oilfield equipment procurement.
Key Findings
- Financial Impact: AUD 50,000 - 500,000 per procurement event in excess costs from poor decisions
- Frequency: Ongoing for equipment refreshes and expansions
- Root Cause: Manual RFQ processes and lack of data visibility
Why This Matters
The Pitch: Oil extraction firms in Australia 🇦🇺 lose AUD 200,000+ per procurement cycle on bad vendor decisions. Automation of bidder comparisons prevents this.
Affected Stakeholders
Purchasing Officers, Supply Chain Managers
Deep Analysis (Premium)
Financial Impact
Financial data and detailed analysis available with full access. Unlock to see exact figures, evidence sources, and actionable insights.
Current Workarounds
Financial data and detailed analysis available with full access. Unlock to see exact figures, evidence sources, and actionable insights.
Get Solutions for This Problem
Full report with actionable solutions
- Solutions for this specific pain
- Solutions for all 15 industry pains
- Where to find first clients
- Pricing & launch costs
Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
Cost Overruns in Equipment Procurement
Capacity Loss from Procurement Delays
Work Program Non-Compliance
Permit Application Delays
Idle Drilling Equipment
Environmental Non-Compliance Fines
Request Deep Analysis
🇦🇺 Be first to access this market's intelligence