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With the internal standards management solution from IHS Markit, you can make sure your documents are accessible and cross-referenced with external/industry standards:
See how a leading media technology provider dramatically improved productivity by securely sharing internal design documentation with supply chain partners using the IHS Markit solution for internal standards management.
IHS Markit offers an exclusive Conformity Assessment service for your high-cost internal standards. The objective is to identify and eliminate deviation from industry standards by preventing "gold-plating" that drives unnecessary costs. IHS Markit will leverage industry benchmarking and cost data, software tools, and your own proprietary data to:
The benefits can be substantial. Watch this video on the cost (and opportunity) of standards, or read this case study to learn how IHS Markit helped a large energy firm identify over $180 million in annual cost savings in 1,200 internal standards.
Every organization has its own set of internal documents and systems that reference external content. These can be design standards, specifications, drawings, handbooks, procedures, and a host of other company/proprietary documents that reference external/industry standards, regulations and codes.
Maintaining these links and cross-references can be a huge drain on resources and productivity, not to mention potential risks related to compliance and quality. How do you make sure each links to the correct industry standard or code? Are those industry standards/codes accessible, up-to-date, and copyright compliant? Is everyone in the organization working to the same, consistent set of documents?
The Reference Linking Solution from IHS Markit provides users with secured direct access to external standards, specifications and regulations from within their own documents and workflow processes. This solution allows users to work more efficiently by ensuring that the appropriate external documents are always available when they're needed and that all employees throughout an organization are using the correct version of a document.
Visit the Reference Linking Solutions from IHS Markit for more information.
The Cost of Standards
Chad Hawkinson, SVP at IHS Markit, speaks to how engineering standards, and the proper application of those standards, can drive dramatic cost improvements by eliminating over-specification (a.k.a. 'gold plating'), minimizing internal standard 'overlays', and adopting industry standards where appropriate. He explains how IHS Markit helped a large operator in the oil & gas industry determine that they over-specified many of their valves, and identified $25M in annual cost savings by procuring to industry standards rather than their own internal standards.
Standards Optimization - A Deeper Dive
Watch this 10 minutes video for a deeper dive into IHS Markit project approach for standards optimization, utilizing advanced tools and services for function modeling, value engineering, and solution identification.
To lower costs enterprise-wide, a global energy company asked IHS to review 35 internal standards and list 143 comparable international standards. Research uncovered conformity opportunities including 25% savings on casing/tubing for $5 million annually and $180 million annually for conformance with ALL industry standards.Learn More About Our Customer's Success
One of the world’s largest cable TV, high-speed internet and telephone providers, with billions of dollars in annual revenues, meets increased customer expectations and accelerates time to market for new products and services with automated distribution of standards information to 70+ suppliers and approximately 1000 employees worldwide.Learn more about our client's successes
National Aeronautics and Space Administration (NASA) research centers and test facilities create hundreds of millions of documents and reports every year. By implementing a platform for technical knowledge discovery, the agency has gained quick access to relevant information and reduced time spent researching specific project data results from days to hours.Learn more about our customers success