The absence of a central, digitized source of stockholder inventory data places a multitude of restrictions on the downstream oil and gas industry. For example, many oil and gas suppliers, schedulers, and shippers still rely on an outdated and time-consuming process for gathering critical supply information. The DTN Terminal Inventory Management System (TIMS) from Schneider Electric is the industry’s first automated inventory data-gathering system, eliminating the need for manual data aggregation, translation, and delivery. Previous methods might require data to be collected from multiple sources such as terminal balances, rail-car receipts, pipeline schedules and batches, waterborne receipts, refinery inventories, and inbound and outbound truck activity. Now, with the click of a button, all of that information can be gathered, verified, and normalized into a single report. Users are automatically notified of any discrepancies in the data, so errors can then be tracked down and properly corrected before reports are sent to stockholders. Additionally, as a result of more-efficient data gathering, daily reports can be delivered in a timely and consistent manner.
- For additional information, visit www.schneider-electric.com.