This audio was created using Microsoft Azure Speech Services
At the recent StocExpo, held 19-20 March in Antwerp, Belgium, supply chain solutions were a central focus, and for good reason.
Today’s supply chain solutions can deliver consolidated fuel supply management capabilities across a petroleum supplier’s enterprise. With them, you can: streamline the flow of information from anywhere; share real-time inventory and lifting data with customers, partners, and your office via your terminals; flexibly meet various demands; and communicate with any device vendor on the market. These are today´s automation and control best practices for the petroleum suppliers business.
These capabilities are especially important in Europe where financial and economic conditions have led to an uncertain business environment for the oil and gas industry — with suppliers and buyers looking to increase operational efficiencies to help offset risk.
Terminal operators can play a critical role in supporting those efficiencies with real-time supply management tools, which also deliver numerous benefits to their own operations. By being mindful of larger industry trends and making sure their Terminal Automation Systems (TAS) is able to support state-of-the-art supply managements systems, terminal operators can gain a competitive edge.
With real-time supply and price optimisation tools, margins and sales can be enhanced through accurate real-time pricing information, display of processed information in a clear and actionable way, and the means to quickly respond to the market and act on price decisions.
Online transactional systems also support streamlined, efficient processes through improved profitability and rateability. Supply can be better managed by enhancing forecasting and monitoring contract compliance through the use of a fuels ordering and contracting platform.
Customer management can also be made more effective by controlling supply conditions, credit limits, and product allocations. By controlling sales and credit, supply can be optimised and terminal runs can be prevented. Further, by displaying a complete view of products available for purchase, as well as customer and allocation activity, customer invoicing can be expedited with the display of real-time sales, supply availability, channel of trade activity, allocations, and BOLs.
Through the use of a business-to-business message hub with integration and translation services, efficient and accurate communication can be achieved. Likewise, productivity can be enhanced through reliable connectivity and secure Web access to information, applications, and services.
These capabilities can help you achieve the flexibility you need to become the go-to for your customers, while enhancing your own efficiencies and profitability.
