As the end users of pressure control valve become more complex and demanding, manufacturers and suppliers have been forced to find better, more efficient processes.
While engineers continue to be the forces behind new innovations, companies have started realizing the importance of other people within the company, who are needed to pinpoint what’s needed and to assure that the results meet customers’ demands. Additionally, a good R&D is about fostering creativity, which is much more effective when a group is working together. However, the challenge is to bring the group together and allow them to speak candidly to solve the problem.
The globalization of clients over the past five years has been rapid in pressure control valve manufacturing industries and they are now expecting reliable levels of service and support worldwide. As a result, companies in this industry will require established global suppliers to keep pace in the market and meet their growing and unique demands.
Business Issues[spacer height=”10px”]
- The client: A leading pressure control valve manufacturer
A leading pressure control valve manufacturer based out of the United States approached Infiniti to develop a technique to identify the potential risks in the industry and benchmark competitors’ offerings. With the help of Infiniti’s risk assessment engagement, the client also wanted to evaluate the relative risk in the industry and effectively manage their risks while they operate, grow, and improve businesses profits.
How Can Risk Assessment Help Companies in the Oil and Gas Industry?[spacer height=”10px”]
Industry risk assessment engagements help companies in the oil and gas industry space to efficiently streamline business risks and deliver a one-size-fits-all solution. Moreover, a well-executed risk assessment plan can help pressure control valve manufacturers to make informed decisions and protect their assets. Also, with the aid of an effective industry risk assessment solution, businesses can profile the competitors and their product offerings and improve the time-to-market for the products being offered.
Summary of our risk assessment solution?
Client Journey[spacer height=”10px”]
Infiniti’s risk assessment experts carried out both qualitative and quantitative research with leading stakeholders in the oil and gas industry to help the client enhance market effectiveness. The risk assessment experts at Infiniti also compiled information from prominent secondary sources such as paid industry databases, company presentations, and industry forums to help the client apply risk mitigation strategies in an organized manner.
Solution Benefits and the Business Impact[spacer height=”10px”]
The pressure control valve manufacturer identified factors impeding market growth and implemented an effective risk management strategy with the help of this risk assessment engagement. Also, with the help of our industry risk assessment engagement, the client was able to monitor their market attractiveness. This further helped the client make checklists of the potential risks and further devise effective measures to reduce bottlenecks and enhance their overall business efficiency.
The Future[spacer height=”10px”]
The introduction of intelligent pressure control valve positioners with internal capabilities for diagnostics, trending, alarm status, etc., is eliminating the need for external software in many cases. This approach is expected to be more fail-safe and secure for end users in the near future as setting changes must be made physically at the valve positioner. Moreover, maintaining valve history data in the positioner rather than in the distributed control system software ensures that valued information is not lost if the positioner is removed from service.