scrap , and refurbishment practices , to deliver the best financial value back to Chevron . It is a global role that I am very excited to be in ; my favorite thing is supporting our business units and projects to make the best decisions for the company ,” explained Courtney . “ Being global means that I am lucky enough to see all of the struggles each group has , and offer support by sharing best practices . I work with each business unit to help create success stories at the enterprise level – it is crucial as a global company that we understand what each other are doing , and how we can collaboratively work together .“

Why Asset Surplus is Detrimental

Surplus Assets are assets that are held by a business that are not core to its underlying operations and do not support the business in any way . Surplus Assets can be a result of : over-ordering of components such as the valves and piping needed for a project , ordering the wrong items , or discovering the product is no longer necessary . The cost of the products themselves , the loss of working cashflow , and ongoing holding costs cause surplus inventory to eat away at bottomline profits . Obsolete assets may have been originally acquired for the business but have since been replaced or have become surplus to the operation of the business . The products may also cause issues by taking up not only financial , but physical space as well . Another issue with surplus assets is inventory taxation . Inventory taxes fall under property tax — the largest tax paid by businesses at the state and local levels . In addition to taxes on the value of buildings and land , machinery and equipment can be taxed as property , known as business tangible personal property ( TPP ) taxes . A number of states include inventory as part of their tangible personal property tax . Of the states that include inventory as part of their TPP tax , nine states fully tax business inventory ; Arkansas , Kentucky , Louisiana , Maryland , Mississippi , Oklahoma , Texas , Virginia , and West Virginia . Five additional states levy partial business inventory taxes ; Alaska , Georgia , Massachusetts , Michigan , and Vermont . Inventory taxes are levied regardless of whether a business makes a profit , which adds an additional burden on company finances . Texas , where Courtney is based , fully taxes business inventory of both raw materials and finished goods . Since there is no state income tax , the business property tax in Texas is one of the highest in the nation . Imposing an inventory tax may put these states ’ businesses at a competitive disadvantage while at the same time , local jurisdictions cannot easily afford to

Lead times are also onerous , and people do not understand that PVF is honestly the organs , veins , and arteries of any project – they are crucial to making things run , yet they tend to get minimal attention and are sometimes considered throwaway items . PVF is extremely important and making sure people trust that is paramount to my life .”

give up the revenue generated by inventory taxes . “ While state and local jurisdictions see inventory taxes to be a problem , the overriding difficulty with managing surplus assets are the customs duties and export compliance issues we face at the global level ,” said Courtney . “ For instance , our operations

in Kazakhstan have very strict rules around selling assets to countries outside the region . This causes a massive amount of surplus that just can not be removed or sold , or disposed of because of the regulatory requirements surrounding the activity .”

Maintaining Manageable Material Levels

Knowing exactly how much to order requires a mix of predictive data analysis , business experience , and insight into the company ’ s business units , which Courtney has developed over the years in her various roles .

Courtney strives to ensure that all of her projects and business units are getting the right material , are managing the transfer from project to Base Business , verifying that it is the right decisions to sell , scrap , refurbish , or hold . “ A typical day for me involves offering phone or email support when folks are looking for material , or looking to offload for the best return . I am asking BU ’ s and Projects to trust me when I say I am going to do everything they need to help them to maximize the return to their bottom line ,” explained Courtney . “ To me , the best thing is supporting folks that are in dire straits – they do not know what to do with their ware-houses , do not know the best way to manage their equipment surplus , and I come in to save the day ! It is very challenging because I must bring together all aspects of the business to gain the customers approval – that means working with individuals who love to keep their equipment , and do not want to let go of it . We , as a Supply Chain organization , have to convince our business partners that it is in their best interest to trust us to deliver . It is sales basically – and I love the excitement and the engagement I get from this . When a BU recognizes that we were able to provide the best solutions for their bottom line , it is so incredibly rewarding !” Prior to her role in investment recovery and inventory solution , Courtney was considered the “ Valve Girl ” in the industry ; she was working across the globe with all manufacturers to determine the best sizing , selection , manufacturer , etc . for their PVF needs . She performed audits , proper PVF selection on products , expediting , managed projects , and more . She explained that Chevron ’ s Approved Manufacturers Lists ( AML ) is a comprehensive list of manufacturers with the ability to provide varying degrees of