Within the energy industry there are a wide range of supply chain positions, from commodity producers, through refiners and commodity traders, to generators and energy traders. Each of these players have very different roles and therefore different requirements from their commodity and energy trading software, yet many ETRM suppliers attempt to create one solution to fit all. This means that the ETRM can broadly support most organisations but does not always offer the in-depth functionality that would allow each to capitalise on the technology. Many organisations using a legacy ETRM have developed ways of working around any software limitations, but this can involve more manual workloads using offline tools such as spreadsheets, which make it difficult for others to know contract statuses and increase the risk of errors. Whilst this ingenuity has meant that historically ETRMs could supply more limited solutions, with offline workarounds supplying the rest, this less efficient measure will not remain sustainable. Organisations without the technology to automate processes and manage all data centrally will struggle to remain competitive in the fast-moving commodity supply chains and energy markets of the future. The growing need for the right ETRM To take just one of many factors of changing… continue reading
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Source: CTRM Center