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Addison Armstrong from ClearDox looks at new trends in the industry

Digitalisation has permeated virtually every sector of the economy, and has changed the way that companies understand inventories, manage supply chains, and utilise resources. Until recently, the bulk liquid storage industry stood out as a notable laggard in this transformation with many companies continuing to use outdated approaches in their day-to-day operations. That has started to change.

Tank storage operators, lessees and lenders have struggled with stale inventory data for years. Critical information is typically maintained and updated on complex spreadsheets, a manual process that is slow, error-prone, and insufficient for modern management reporting. Recently, the focus of industry leaders has been to develop automated systems that provide tank-level inventory data in as close to real time as possible. For example, a r...

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