In today’s competitive market with near-zero tolerance for environmental impacts, it’s critical to maintain terminal facility integrity while improving cost performance.
Dallas, Texas (PRWEB) September 23, 2015
HSB Solomon Associates LLC (Solomon), the leading performance improvement company for the global energy industry, announced today the launch of its Worldwide Liquid Terminal Performance Analysis (Liquid Terminal Study) and Worldwide Liquid Pipeline Performance Analysis (Liquid Pipeline Study) for operating year 2015.
The Liquid Terminal Study provides insight into the operating cost and reliability performance of storage facilities, and delivers actionable information for improvement. The overarching goal of the study is to help companies identify the areas on which they need to focus when attempting to improve operational performance.
“In today’s competitive market with near-zero tolerance for environmental impacts, it’s critical to maintain terminal facility integrity while improving cost performance," said John Jungman, Vice President of Pipeline and Terminals for Solomon. "Operators need to understand how to determine the best performance for both financial and operational optimization.”
The Liquid Terminal Study gives participants the ability to:
- Quantify performance improvement opportunities through gap analysis.
- Determine competitive position within industry peer groups.
- Assess future performance impact of planned capital improvements/modifications.
- Demonstrate performance/capability to financial institutions and security analysts.
- Build corporate trust through performance improvement activity.
The Liquid Pipeline Study is designed to let pipeline operators know how they are performing in three key areas: operating cost, energy, and reliability. Solomon analyzes pipeline performance by comparing participating systems to target groups made up of best performing pipelines participating in consecutive studies.
Extensive information is collected across all major facets of an operation, with clients reporting data leading to 400 metrics per pipeline system. Solomon analyzes operating data using three divisors: utilized capacity, diameter-length, and—more significantly—Equivalent Pipeline Complexity (EPC™).
“Relying on the competitive divisors of deliveries or volume-length is no longer enough to give an accurate insight into pipeline operations,” said Jungman. “At Solomon, our benchmarking methodology takes into account operational complexities. It then gives a true picture of how successfully operators are implementing best practices compared to their competition and where opportunities exist to make positive margin improvements.”
The Liquid Pipeline Study can help operators:
- Determine competitive positions using standard as well as custom industry peer groups.
- Assess specific performance shortfalls relative to customized peer groups.
- Formulate expense/margin optimization plans to close opportunity gaps.
- Establish performance targets and measure progress.
- Demonstrate performance/capability to joint-venture partners, financial institutions, and security analysts.
- Access key performance indicators (KPIs) for analyzing performance.
- Compare current performance to past studies, or establish base-year data for future trend analysis.
- Use gap analysis to compare performance to peer groups and top performers.
- Compare systems with diverse operating configurations, system sizes, terrains, power ratings, products, and complexities.
- Compare performance at the pipeline-system level.
- Make comparisons across geographic regions.
Interested parties may learn more about the studies by:
- Visiting http://SolomonOnline.com/benchmarking/liquid-pipeline-and-terminals/liquid-terminals-study
- Visiting http://SolomonOnline.com/benchmarking/liquid-pipeline-and-terminals/liquid-pipeline-study
- Contacting John Jungman by phone at +1.972.739.1723 or via email at John.Jungman@SolomonOnline.com
About Solomon Associates
HSB Solomon Associates LLC (Solomon) is the leading performance improvement company for the global energy industry. Solomon’s benchmarking and advisory solutions help customers across the energy value chain achieve operational excellence by increasing efficiency, reliability, and profitability. Solomon also provides forecasting and advice on the North American gas market. Solomon’s proprietary analytics uniquely transform data into insight for making better business decisions. Based in Dallas, TX USA, Solomon is part of The Hartford Steam Boiler Inspection and Insurance Company (HSB). Learn more at SolomonOnline.com.