Statistical analysis leads to working-capital reductions

A study identified significant margin improvements in stock-handling efficiency by minimizing buffer stocks and reducing storage facilities at Shell's Stanlow refinery in Cheshire, UK.In line with this study, other process plants can reduce their inventory costs by lowering stock working capital.In its investigation of the Stanlow refinery, Shell Global Solutions pinpointed potential reductions in white-oil finished-good stocks equivalent to $8 million, without any reduction in the security of supply to customers.The team's statistical approach yielded insights into scheduling, stock management, and process optimization within general manufacturing processes. The approach is appli...

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