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Shell and Equinor Collaborate for Inventory Optimization
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Royal Dutch Shell Plc announced plans to join Equinor ASA (EQNR - Free Report) to develop the latest Shell Inventory Optimiser, a cloud-based inventory optimization tool that avails advanced analytics on historical data to ensure the optimal use of operational spare part inventories.
The partnership comes after the energy giants signed a digital collaboration agreement in March to unite their efforts on digital projects in areas of mutual benefit. The development project is the first initiative to be held under this agreement. Notably, Microsoft Corporation (MSFT - Free Report) will assist the companies to develop the tool, which uses the technology giant’s Azure platform.
By means of the tool, energy companies will have greater control over available equipment and to effectively reorganize their stock levels. Moreover, the tool incorporates new features, including Microsoft’s Azure Machine Learning, Azure Databricks and Azure Datalake, to optimize its algorithm for an improved user experience and enhanced service offerings.
The project will be reviewed by a combined engineering team with digital and discipline experts from the energy as well as the tech giants. Per Equinor, the new tool is likely to reduce the company's inventory consumptions by about 13%, thereby, resulting in huge savings.
The collaboration marks an important milestone for both companies as they have implemented cloud-based digital solutions toward the industry’s digital transformation. The project is expected to enhance safety, increase value creation and help reduce emissions to create sustainable low-carbon solutions by applying digital technologies. Notably, both Shell and Equinor will benefit from the alliance and aim to uphold the transformation of the energy sector, while developing solutions with organizations for a low-carbon future.
Company Profile
Shell is one of the primary oil majors — a group of U.S. and Europe-based big energy multinationals — with global operations. The company is fully integrated, as it participates in every aspect related to energy from oil production to refining and marketing.
Exxon is expected to see earnings growth of 484.4% in 2021.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Shell and Equinor Collaborate for Inventory Optimization
Royal Dutch Shell Plc announced plans to join Equinor ASA (EQNR - Free Report) to develop the latest Shell Inventory Optimiser, a cloud-based inventory optimization tool that avails advanced analytics on historical data to ensure the optimal use of operational spare part inventories.
The partnership comes after the energy giants signed a digital collaboration agreement in March to unite their efforts on digital projects in areas of mutual benefit. The development project is the first initiative to be held under this agreement. Notably, Microsoft Corporation (MSFT - Free Report) will assist the companies to develop the tool, which uses the technology giant’s Azure platform.
By means of the tool, energy companies will have greater control over available equipment and to effectively reorganize their stock levels. Moreover, the tool incorporates new features, including Microsoft’s Azure Machine Learning, Azure Databricks and Azure Datalake, to optimize its algorithm for an improved user experience and enhanced service offerings.
The project will be reviewed by a combined engineering team with digital and discipline experts from the energy as well as the tech giants. Per Equinor, the new tool is likely to reduce the company's inventory consumptions by about 13%, thereby, resulting in huge savings.
The collaboration marks an important milestone for both companies as they have implemented cloud-based digital solutions toward the industry’s digital transformation. The project is expected to enhance safety, increase value creation and help reduce emissions to create sustainable low-carbon solutions by applying digital technologies. Notably, both Shell and Equinor will benefit from the alliance and aim to uphold the transformation of the energy sector, while developing solutions with organizations for a low-carbon future.
Company Profile
Shell is one of the primary oil majors — a group of U.S. and Europe-based big energy multinationals — with global operations. The company is fully integrated, as it participates in every aspect related to energy from oil production to refining and marketing.
Zacks Rank & Stocks to Consider
Shell currently carries a Zack Rank #4 (Sell).
One better-ranked player in the energy space is Exxon Mobil Corporation (XOM - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Exxon is expected to see earnings growth of 484.4% in 2021.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>