Friday 10 May 2013

Quantified success stories #61 through 65 - Halliburton

Highway 61 Revisited Again! According to this article, referring to the Halliburton Knowledge Management Strategy
  • Amid all this complexity is one strategy (the Halliburton KM strategy) that has proven to be successful. It has resulted in countless instances of time savings, sharing of lessons learned, and just-in-time training, to name a few benefits. From an increase in perceived service quality by 30 percent to a reduction in average repair time by 26 percent—all within six months of initial deployment—this strategy has increased operational efficiency and improved service quality.

 And here, referring to the Supply Chain and Procurement Community of Practice

  • During the first year the community was in place, the company recognised a $71.5m cost saving in procurement and materials. While knowledge management was not the only factor in that improvement, senior leaders agree that it was an important contributing factor.
  • Reduced ‘request for service’ tickets per month. Now that the community answers many of these questions, the experts in the help centre say they are saving at least ten hours a month, worth $1,000
  • The community has acted as a source of training and has also provided mentoring, which has led to reduction in the cost of unreconciled inventory in Saudi Arabia from $700k to $250k
  • A single instance of collaborative working saved over $10,000 in one shipping event in the Middle East.

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