November 2020

Special Focus: Process Controls, Instrumentation and Automation

Seven imperatives for modern inventory management solutions

Today’s terminal operators are facing several challenges related to the profitability of their bulk terminal, petrochemical and oil field storage sites.

Ramesh Murugan, N., Honeywell Process Solutions

Today’s terminal operators are facing several challenges related to the profitability of their bulk terminal, petrochemical and oil field storage sites. First, they are under pressure to increase margins by using all available tank capacity and shutting down any unused terminals. At the same time, they are trying to maximize throughput and performance by optimizing related activities, such as allocation, planning and scheduling. Second, they must ensure they meet the latest American Petroleum Institute (API) and American Society for Testing and Materials (ASTM) metrology regulations, and that all reporting related to custody transfer, accounting and duties complies with specific formatting

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