lems (Labor, equipment, materials, services)

Knowing how much money was spent, burned, or invested each day/shift during the execution phase of a STO event must be one of the highest priorities of the execution controls team, not just for measuring tool-time efficiency and resource utilization and performance, but to know what was quantifiably received for each dollar spent, burned, or invested.

SBI (Spent, Burned, Invested) requires a digitalized, secure tracking method, accessible as an online, web- and cloud-based app with Ai augmentation connected to an existing ERP (Enterprise Resource Program) where data is captured each day/shift by approved contractors, vendors, and in-house resources. Timesheets, security headcount, invoices, and actual costs provide the data required to determine SBI regarding direct and indirect labor, equipment hours and rates, materials, and services, including fuel, fees, taxes, mobilization, and so on. Information is then shared with Accounts Payable and displayed on iSMART™ (integrated System Mitigated Agile Reporting Tool) by NextGen-Navigator Ai Inc. to evaluate in real time the value contribution performance of each contractor, vendor, and in-house resources, leading to a potential savings of 20%, fewer resources, lower risk with the potential for reduced outage duration for increased production.

A demo version of LEMS will be available soon. Contact us for more information.