Aspen Technology has introduced Aspen Bulk, claiming it to be the first and only supply chain management solution designed specifically for petroleum distribution from refinery to terminal.
The integration of Aspen Bulk with other supply chain solutions will provide an end-to-end supply chain solution, Aspen claims. By providing petroleum executives, managers, traders, schedulers, and dispatchers with the tools to collaborate in real-time, Aspen Bulk will enable petroleum companies to unite upstream and downstream supply chain operations to create cost effective and therefore, profitable demand fulfilment schedules.
‘Aspen Bulk is a critical component of our end-to-end supply chain offering,’ said David Mushin, Executive Vice President of AspenTech’s Supply Chain Business. ‘Our end-to-end solution is designed to enable companies to transform isolated, supply chain business silos into truly integrated value chains. Tying all the pieces of this complex puzzle together will enable companies to automate and optimise strategic decision making with the intended goal of maximising margins across the entire enterprise.’
The package utilises supply chain information to improve forecasting accuracy, demand planning and scheduling capabilities from the refinery to terminal operations. The package can be implemented as a stand-alone product or as part of an integrated, end-to-end solution. It offers advanced demand planning and scheduling capabilities. The demand planner can forecast demand by channel of trade, a necessary step in providing the requisite level of accuracy.
Aspen Bulk also integrates data with refinery planning solutions to ensure a fully optimised supply plan. Its replenishment scheduler dynamically manages product inventories, creates optimised replenishment plans, and generates distribution schedules, functionality, which is intended to maximise margins.