PIC opts for Oracle ABM solution
Petrochemical Industries Company (PIC) of Kuwait has implemented an Activity Based Management (ABM) solution from Oracle, which was partnered by MIS for the contract.
Petrochemical Industries Company (PIC) of Kuwait has implemented an Activity Based Management (ABM) solution from Oracle. Implemented by Oracle’s partner, MIS, the solution is designed to allow managers to see exactly how certain corporate activities are performing compared to the cost objectives assigned to them by the company.
The system will be used by PIC across manufacturing facilities in Kuwait and Oracle says the system will make it possible to assess instantaneously the value of different activities to PIC, therefore allowing better planning and improvement of performance.
“Our new ABM implementation will enable PIC to more accurately measure and analyze the company’s profitability in a number of ways, including producing more accurate product costs, measuring the cost of any unused capacity at our manufacturing plants, and generating more viable budgets across PIC’s different departments,” said Loay Hussein, ABM project manager, PIC.
“As the Middle East becomes an increasingly competitive region, solutions like Oracle’s ABM offering enable PIC to maximise our current investments while planning more accurately to serve our customers and partners in the future,” he added.
“PIC has assumed a leadership role in the Middle East by adopting ABM principles for increased budgetary control. The petrochemicals leader can now perform immediate analyses of the profitability of its activities, making PIC among the best-informed enterprises in the region,” said Husam Dajani, vice president of Oracle Middle East.
MIS carried out the implementation in four months, including training PIC staff, and has positioned itself as one of the few companies with experience of implementing ABM solutions in the region.
“As the primary Oracle partner leading this PIC initiative, MIS had the opportunity to both enhance our skills in the ABM solution area as well as expand our understanding of the business needs of the petrochemical industry,” concluded Toni Ibrahim, project manager, MIS.