Honeywell Develops Inventory Tech for Terminal Operator
Tank storage firm Royal Vopak (AMS: VPK) has integrated Honeywell’s cloud-based inventory calculation engine into its MyService terminal management system (TMS), Honeywell (NASDAQ: HON) reported last week.
“Integrating Honeywell’s measurement modules with our bespoke MyService software is creating a competitive advantage for Vopak’s services,” commented Royal Vopak Chief Information Officer Leo Brand in a written statement emailed to Rigzone. “Honeywell’s legal metrology expertise and long experience providing compliant, accurate liquid stock accounting made it an ideal strategic partner for our digital transformation program.”
Honeywell explained that Vopak uses the TMS to facilitate the storage and handling of bulk liquid products and gases. The firm stated that its calculation engine – Honeywell Enraf Inventory Calculation Module (HEICM) – calculates inventories and product movement qualities for a broad range of liquid products stored at terminal sites.
The calculations meet major international, recognized standards and publications from organizations such as American Society for Testing and Materials, American Petroleum Institute, and Gas Processors Association, Honeywell added.
“We’re pleased our work with Royal Vopak on the HEICM development resulted in a comprehensive calculation engine tailored for the terminal market,” remarked Rudi van der Kraats, Honeywell Process Solutions’ strategic terminal accounts director. “Software-driven, intelligent technologies such as HEICM are part of our strategy to provide a full terminal automation solution.”
Although Honeywell developed HEICM with Vopak, it noted that it plans to make the cloud-based technology available to other terminal operating companies for similar TMS integrations and in a stand-alone version for independent surveyors.
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