Accounting for the Unaccounted
Unmeasured losses in terminal operations can cost millions if instrumentation isn't accurate
In modern tank and terminal facilities, material transfer operations include a mix of legacy processing systems still in use, new technologies installed to improve operations, and tank monitoring software. But some older facilities have not modernized their operations, and can be losing millions of dollars in unaccounted losses. An assessment of the current situation is the best place to begin the process of “accounting for the unaccounted.”
Evaluation and assessment
To reduce unaccounted lost revenue in the inventories and transfers of products, or to avoid overcharging customers, several considerations need to be reviewed, understood and possibly improved upon:
The accuracy of the measurement instrument
The signal conversion process
Unit conversion to volume
Unit conversion to mass, weight and currency
Once evaluated, an assessment can be done. This will reveal where upgrades should be made to improve operations and produce a more accurate accounting.
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