Spanish oil storage and logistics firm CLH Group has implemented a new artificial intelligence (AI) system to improve forecasting for the delivery of oil products from its facilities.
The system, which forms part of the company’s digital transformation, will allow CLH to operate in a more flexible, scalable way, improve decision making, optimise planning and reduce cost, thereby increasing its logistical capacity.
CLH uses machine learning algorithms to train predictive models and establish the system to produce automated, accurate forecasts for oil product deliveries from its facilities. The technology is the same as that which learns from user and their usage habits. The models can adapt to changes in demand patterns, so the forecasts allow CLH to react to changes in time series patterns. By using the forecasts, CLH can optimise the scheduling of product movements and reduce operating costs.
‘Accurate forecasting of demand at our facilities also allows to improve the quality service by avoiding stock shortages, anticipate peaks in demand and improve integrated operations with transport and refineries,’ says the company.