Optimizing Purchasing Workflow

Optimizing Purchasing Workflow with Jousta™

NLF is a subscribing member of Jousta™, an exclusive upstream oil and gas focused purchasing workflow service aimed at reducing project costs and increasing service company utilization.  The concept behind Jousta™ is to achieve the maximum unit cost reductions achieved by inviting only prequalified sellers to the transparent online purchasing workflow. The site provides a process in which only invited Sellers (Service Companies) may submit their lowest bid at which they are willing to provide their goods and services to the Buyers (Operator) project. The major benefits of Jousta™ are outlined below:

Cost reduction: Jousta™ significantly reduces the cost of the products by having service companies bid on the work.  By having pricing information disclosed to all participants, repeat bids are encouraged, thereby lowering the cost of services.

Time sensitive: A finite timeline is set for every bid.  Competitors will now have limited time to submit proposals, depending on buyer preferences.  This eliminates the delays and confusion in conventional bidding scenarios related to the sealed bid process, normalizations, and clarifications. 

A sample of the bidding process:

In order to maximize project potential, NLF has spent thousands of engineering hours creating technical specifications and proprietary workflow to ensure sellers are vetted to meet purchasing requirements of the Operator (SECOR, COR, COMPLYWORKS etc.). Furthermore, bidders are screened on the three (3) NLF core competencies: Safety, Efficiency and Accuracy.

Bids for services are then evaluated on a technical nature by NLF (or the Operator) to pass the minimum engineering project requirements. A minimum technical standard (drilling/completions/well closure program) is posted for sellers to review and evaluate prior to making their bid submission. Incomplete bids or sub-standard bids are rejected.

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