Saudi Aramco’s iktva Program Helped Battle the Pandemic

Resilient supply chains,  as a result of iktva, were a clear advantage during the pandemic. The pandemic caused supply chain disruptions and exposed the vulnerabilities and critical pinch points of global supply chains.  During these events, companies and regions experienced difficulties obtaining services and materials, especially from offshore suppliers, delivery times increased, quality decreased, and some suppliers had to shut down or went out of business.

“Mohammad A. Al Shammary, VP Procurement & Supply Chain Management at Saudi Aramco, discusses the impact of iktva on the pandemic, and how localization helps build resilience in Oil&Gas.

The full Press Release can be read here:  O&G Aramco iktva Mar 2021

Saudi Aramco CEO credits iktva with helping to build resilience before the pandemic.  “We have seen a lot of plants and factories and suppliers that support Saudi Aramco from Europe, including China and other places – they had to shut down because of the lockdown. That impacted us for a while. But because of the optimum level of inventory that we have and because of our in-Kingdom total value add, which is our local content – we are at 56% so a lot of things are being manufactured in the Kingdom – it helped us a lot.” Quote by Saudi Aramco CEO Amin Nasser.

The Oil&Gas Press Release can be read here: O&G iktva and Covid Jul 2020

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