Value chain optimization is often the biggest factor in determining the profitability of assets. The goal is to maximize return on capital employed (ROCE) as efficiently as possible and it is defined as “The agile optimization of fluids, feedstocks and other inputs with products and operations to reflect market demand and prices.” The Value Chain Optimization Manifesto outlines how to solve for this at scale.
The manifesto is key for businesses wanting to make a step change in profitability, as it outlines how value chain optimization can be applied wisely, demystifies the jargon, describes practical solutions and demonstrates value. It is based on deep hands-on experience, alongside our parent Yokogawa, working with the world’s largest and most complex companies in the Energy and Chemical industry. The manifesto focuses on upstream oil and gas, liquefied natural gas (LNG), oil refining, petrochemicals and power utilities sectors and showcases how certain assets can achieve in excess of USD 600 million incremental profitability.
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Aug 15, 2019
In the past, when oil prices were higher, upstream producers were very focused on managing their assets for maximum production volume. However, in the current and forecast business environment, there is a much greater need to manage for value. Maximum value is not always maximum flow; this can sometimes lead to value destruction. So what does managing for value mean for an upstream producer?Read full article
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Achieving autonomous operations is all about empowering the plant to run, learn, adapt and thrive in tomorrow’s environment. Dynamic real-time optimization gives a fast automated response based on the actual changes in raw material properties, product demand, and operating conditions.Read full article
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