SOCAR introduces risk management system
Baku, Azerbaijan, Oct. 6
By Huseyn Valiyev - Trend:
SOCAR (State Oil Company of Azerbaijan) is implementing a risk management system, created by the world's largest software developer for business management - SAP, Suleyman Gasimov, SOCAR vice-president on economic issues, told Trend.
Gasimov said that the production modules of the system are introduced in such areas as construction and repairs that will optimize the costs and increase the control over product quality.
Thus, the company introduces a complete information system of the new millennium, which will save precious resources, whether it's working time of employees, investments or oil.
He said that SOCAR, which is among 50 largest oil companies in the world, attaches great importance to the innovations and aims to use the latest technologies to strengthen the positions of the Azerbaijani oil industry on the world market in accordance with the "Comprehensive Plan of SOCAR strategic development for the period up to 2025".
SOCAR started this process by implementing SAP ERP. This allowed optimizing the relations with suppliers, to automatically form all necessary reports in different directions and get huge analytical information needed to create effective business.
SOCAR has a long-term IT-strategy. At present, SOCAR distributes innovative business management methods at its companies.
Currently, SOCAR is implementing SAP-based innovative technologies, contributing to improve the efficiency of production processes.
Edited by CN