Inventories: General Overview

Introduction 

The purpose of the inventories feature is to help the production accounting team track inventory volumes separately from receipt and disposition streams. Just like streams, inventories can have records of quality and records of volume records, and be included in a plant balance. Daily tank volumes can be viewed in a new Inventories tab as well.

Inventories

Admin users can create by providing a tank name, associated streams, sites, products and total capacity. Once tanks have been created, they will be available in the tank list from the Inventories tab. 

Daily volumes can be added to tanks directly from Validere 360 primarily using the Record of Volume feature, however it can also be added under the Volume tab within a tank. For both methods, a data integration can be configured to receive these volumes from a production management system. Only closing volumes can be edited, the opening volume will be automatically calculated from the closing volume of the previous day to ensure volumes are balanced.

For each tank, you will be able to see the current details such as filled volume, filled volume percentage, and tank capacity. You will also be able to see a chart of volume over time with an adjustable time range. If tanks have changed active streams in the past, this will be represented as different colours in the chart. 

At the bottom of the tank details page, you will also be able to see the qualities of the tank based on inline measurements or the most recent sample taken for that tank, if available. 

Balance

All balances can be accessed from the the Balances list, which can be filtered by balance type, inlets, outlets, references and components.

Balances can be created based on inlet streams, outlet streams and inventories, which can be used to identify material balances for total volumes and by component.

Records of Quality

Inventory records will be available in accounting periods in addition to disposition and receipt records. Unlike other records, Inventory records will have opening and closing qualities and volumes based on the beginning and end of the month.

Samples can be selected for inventories to apply qualities to the tank volume, similar to sample selection for receipt and disposition streams. The sample selection will apply to the closing inventory of a tank. 

Records of Volume

After selecting a site system and accounting period, inventories from that period will be listed with adjustment factors, similar to streams.

Selecting an inventory will open details to view daily information, edit closing volumes, edit adjustment factors and add daily notes. 

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