IOC Supercharges Operations with Digitalization – A Game Changer!

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Indian Oil Corporation (IOC), India’s leading refiner, is undergoing a profound digital transformation to enhance its crude purchase, refinery operations, and financial management. This initiative, driven by an executive director named Manish Grover, is delivering substantial improvements in efficiency and profitability.

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IOC’s strategy revolves around harnessing the power of data for informed decision-making. Grover explains, “We’ve tapped into the vast pool of data at our disposal to drive our decision-making process.” This data comes from diverse sources, including refineries, pipelines, petrol pumps, aviation fuel stations, natural gas networks, and petrochemicals.

Operating refineries at ten different locations and dealing with up to 400 types of crude simultaneously, IOC faces immense complexity. Grover elaborates, “We handle as many as 12,000 variants of crude mixes, often requiring quick decisions for crude purchases and unloading schedules, especially during unforeseen events like war.”

The primary objective is to increase yields and reduce interruptions, which can result in substantial losses. Grover states, “A single day of refining interruption could translate to a potential loss of Rs 200-300 crore in sales.” IOC’s new digital infrastructure enables proactive measures to prevent such losses. Grover highlights the creation of digital twins of refinery units, optimizing operations and yielding annual multimillion-dollar gains.

Digital twins offer the flexibility to adjust input parameters dynamically, producing various outputs. The heat exchanger fouling prediction system is a prime example, ensuring optimal refinery output.

Furthermore, IOC employs robotic process automation, streamlining tasks like payroll reconciliations, daily operations reporting, and travel expense processing. This not only frees employees from routine work but also ensures accuracy and speed. The tendering process has also become more efficient through digitalization, moving towards a paperless approach.

Data analysis has strengthened IOC’s ability to detect pilferage and pipeline decay, while customer sentiment analysis enables rapid responses to potential sales impacts.

Implementing data-driven processes across the organization has required substantial effort, including internal hackathons to explore the potential of artificial intelligence and machine learning. IOC’s IT department has introduced data visualization tools and dashboards for executives, facilitating quick access to actionable data.

As IOC plans a capital expenditure of Rs 120,000 crore over the next five years, these new data tools will enhance project monitoring. Grover emphasizes, “We can now predict project delays and take preventive actions as needed.”

In conclusion, Indian Oil Corporation’s digital transformation is revolutionizing its operations and management, leading to increased efficiency, profitability, and proactive decision-making, all driven by data.

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