Schneider Electric develops new solution for handling inventory data

Schneider Electric is introducing a new solution through its DTN Terminal Inventory Management System (DTN TIMS), which eliminates the need for manual data gathering, validation and data entry. DTN TIMS provides decision makers with timely access to inventory positions and pipeline schedules, as well as transactional documents capturing actual physical product movements for accounting reconciliation.

When gathering inventory data, bulk movement tickets, schedules, or other supply information, shippers can no longer afford to rely on manual or inefficient processes. While systems are available to control, monitor and report on inventory as it leaves the terminal, no solution has been able to do the same when inventory arrives or balances are reported. Instead, inventory data gathering has typically been a manual, time consuming process with high potential for keystroke or translation errors.

Schedulers, supply and marketing analysts, inventory accountants, and risk management traders can receive timely and accurate information through a single interface. DTN TIMS enables users to aggregate history and warehouse their valuable operational data for ongoing analytical optimisation, forecasting and planning.

DTN TIMS outputs are designed to be compatible with common industry standards and protocols. However, if a supplier does require unique outputs to maximise data value, DTN offers data translation services to fulfill individual data content, formatting and delivery requirements. Some additional features available in DTN TIMS include dashboards, user interfaces, analytical tools and configuration screens.

DTN TIMS technology:

• Collects and validates inventory data from a wide range of data points that impact actual inventory positions and scheduled supply activity, providing a more global operational view.
• Processes information from terminal and pipeline operators delivered in various reporting formats, from direct data interface to email attachments.
• Routinely monitors for late or missing data and uses custom configured rules to validate accuracy of content.
• Applicable to refined fuels products, heavy oils, crude, NGLs and other products that pose similar inventory data challenges.

Adapted from press release by Rosalie Starling

Read the article online at: https://www.hydrocarbonengineering.com/product-news/22042015/schneider-electric-develops-new-solution-for-handling-inventory-data-639/