Tata Consultancy Services (TCS) has been selected to overhaul the value chain capabilities of Petroliam Nasional Berhad (Petronas) in Malaysia through a co-designed digital project.
Terms of the alliance will see both parties collaborate on Project DOVE (Drive Optimisation Value for Enterprise), an initiative designed to enhance customer experience and value chain optimisation at the oil and gas multinational.
Co-designed by TCS, the DOVE platform is tasked with advancing digital competencies and tools within Petronas by maximising information from its downstream operating companies, backed by updated competitive market information. Creating a data pool of real-time intelligence in the process, the aim is to improve information transparency while driving enterprise collaboration across the wider business.
The platform is also supported by advanced analytical models and tools, such as retail and commercial demand forecasting, vessel scheduling optimisation and product pricing recommendations to enable "optimised decision-making".
“At Petronas, digital strategy has now become the blueprint of our business strategy and has accelerated new ways of working,” said Datuk Md Arif Mahmood, executive vice president and CEO of Downstream at Petronas.
“Through DOVE, we are able to unlock new value for Downstream by venturing into other segments of the value chain, driving focus towards untapped opportunities for the business. Digital, coupled with innovation, has become key to driving business and delivering value to the company and our customers.”
Moving forward, plans are in place for DOVE to integrate with similar initiatives across the organisation to create "end-to-end visibility" of the entire value chain.
"We are pleased that Petronas has chosen to partner with us to transform their operations to better serve their customers," added Girish Ramachandran, president of Asia Pacific at TCS. "With our contextual and industry knowledge of the oil and gas industry combined with our intellectual property and innovation efforts, we help enterprises better compete, operate, and grow in today's dynamic business environment.”