In highly competitive markets, energy companies are often asked to improve profits significantly in a short period of time. The best way to quickly improve profits is to improve performance, and Solomon's Performance Excellence Process allows managers with limited time and resources to focus performance optimization on the areas that produce the largest returns. Using our process, managers can achieve a substantial positive impact on profitability without large capital expenditures or a lengthy wait for return on investment (ROI). The time put into focused performance optimization can result in dramatically reduced operating expenses and improved profitability. Our clients typically obtain benefits that are at least 50 times Solomon’s professional fees.
Why Choose Solomon to Help Achieve Performance Excellence?
Solomon's philosophy calls for sustainable improvement through implementation of industry best practices and efficient work processes. Our Advisory Services are executed in three phases: assessment, recommendations, and implementation.
Unlike other firms, which often rely on high-cost or short-term solutions like cutting costs, reducing headcount, or making major capital investments, Solomon focuses on what it takes to accomplish long-term, sustainable improvement by maximizing the margins on existing assets at little to no cost. Solomon will systematically evaluate your operational and financial performance as compared with competitors and identify “Quick-Hit” opportunities for improvement that can be accomplished within a few months.
Insight into a facility’s work practices is necessary for an accurate understanding of performance gaps and potential targets for improvement. Once such understanding is achieved, this insight can provide the basis for addressing issues that keep a facility from achieving better performance. A complete, unbiased assessment allows you to identify the strengths and limitations of your organization and facility while providing the economic incentive to undertake improvements.
How It Works
Solomon’s methodology and experienced Advisory Services team will pinpoint the improvement areas necessary to maximize your margins through an effective mix of no-/low-cost capital projects. The scope is tailored to meet your needs — whether you want a comprehensive program that examines all aspects of your business or you simply want to focus on a specific area. Each focus area can be combined into a complete program, or any one can be offered as a separate module:
- Organizational Effectiveness
- Planning & Optimization
- Quality Control
- Advanced Process Control
- Automation/Distributed Control Systems (DCS)
- Energy Management
- Turnarounds/Overhauls/Tank and Pipeline Integrity
- Hydrocarbon Loss
- Greenhouse Gas (GHG) Emissions Management
Solomon’s recommendations in this area focus primarily on improving work practices to reduce energy consumption without making major capital investments. We focus on improving energy management practices in a way that ensures the improvements achieved will be sustainable year after year. We typically examine furnace operations, preheat network effectiveness, and distillation efficiencies.
Reliability and Maintenance (RAM)
In this area, Solomon’s methodology focuses on reducing unpredicted work demands by improving system and equipment reliability. Solomon has worked with a number of clients to reduce unpredicted work demands by at least 6% by implementing rigorous incident investigation and subsequent corrective action. We have also seen outage losses reduced by 30% through scope control and outage-duration management.