In the high-stakes world of oil and gas services, even the smallest disruption can have massive consequences. For Extract Production, a company known for its bold approach and innovative solutions, meeting customer expectations required flawless operations. From electric submersible pumps to advanced optimization services, Extract delivered reliability and efficiency to their clients. 

But rapid growth brought new challenges. Rising demand, volatile commodity prices, and regulatory requirements pushed their operations to the limit. Extract needed a way to balance inventory, cash flow, and on-time deliveries while staying agile in a highly competitive market. Fishbowl stepped in to turn complexity into clarity and chaos into control. 

Challenge 

Extract’s line of work left no room for error. Delays or shortages could cost contracts, while excessive stock tied up valuable cash flow. “In our business, every second counts, and every decision matters,” said Steve Carpenter, Extract’s supply chain director. 

They needed advanced tools to monitor inventory, predict supply chain risks, and make real-time decisions. 

Solution 

Fishbowl, enhanced with the Fishbowl AI Insights add-on, provided the insights and automation Extract needed to stay ahead:  

  • AI-Driven Forecasting: Fishbowl AI Insights analyzed historical and real-time data to predict inventory needs, allowing Extract to order the right quantities at the right times. 
  • Smart Order Management with AI: Fishbowl AI Insights recommended optimized purchasing schedules, reducing costs and improving efficiency. 
  • AI-Powered Delivery Insights: Extract could identify potential supply chain disruptions in advance, ensuring on-time customer deliveries. 
  • Quick Custom Reports: With Fishbowl AI Insights, Extract was able to customize existing reports and generate entirely new custom reports in minutes, analyzing inventory and sales data in exactly the ways they needed.  

“Fishbowl has completely changed how we manage inventory and supply chain risks,” said Extract’s procurement lead. 

Results 

The impact of Fishbowl plus Fishbowl AI Insights was immediate: 

  • 10% improvement in on-time-delivery (OTD): With Fishbowl’s deep data insights, reporting capabilities, and AI-powered recommendations, Extract was able to improve their OTD. 
  • 75% reduction in manual tasks: Fishbowl streamlined workflows, freeing up employees’ time for more strategic, growth-focused work. 
  • 22% fewer stockouts: Better forecasting ensured smooth operations and happy clients. 
  • $11M in inventory costs saved: With better reporting and visibility in to demand and inventory, stockouts have been reduced and excess inventory is a thing of the past.  

“Fishbowl turned our most complex challenges into opportunities. We’re not just surviving the demands of the market—we’re thriving in them,” said Extract’s supply chain director. 

Interested in learning more about Fishbowl and the powerful Fishbowl AI Insights add-on?  

Schedule a demo with our knowledgeable team today!