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ROI Analysis: Jovix on Offshore Fabrication Services Site

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ROI Analysis: Jovix ® on Offshore Fabrication Services Site The Jovix Material Readiness ® solution was deployed in 2011 at an EPC firm's offshore construction site in coastal Texas. Functionality included material receipt, request, location and issue. Savings from Jovix track and trace led it to add preventative maintenance and inspections (PMI) functionality. Below, learn more details about cost savings generated by efficiency, accuracy and a reduction in direct and indirect work hours. Jobsite Challenges • Time to locate a material: 45 minutes at $65 per hour (average) • 0.2% of materials were lost; re-procurement at $2,000 per spool (average) • 0.1% of owner-furnished equipment was lost; replacement at $4,000 each (average) Solution Analytics and reporting within Jovix pulled the following information: • 71,624 pieces tagged with active RFID; associated material data entered into Jovix • 66,173 tagged materials were picked in the first 4.5 years of Jovix deployment; not a single tagged asset was lost Analysis of the data resulted in the following conclusions: • Client saved 0.667 work hours for each material located • 0.667 work hours reduced per 66,000 materials saved the client $2,867,496 • With zero assets lost, client avoided $264,692 in re-procurement costs Key Facts Industries: EPC Firm, Offshore Oil & Gas Country: USA Products Used: • Jovix Track and Trace • Jovix Preventative Maintenance and Inspections • Active RFID Tags Key Benefits: • Zero lost materials • Average material location time dropped from 45 minutes to five minutes • Project savings of $2.1 million Case Study

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