Valero Energy Corporation Employs DTN TABS for Rack Marketersadmin
DTN, a leading business information services company focused on agricultural, energy and weather business markets, today announced that Valero Energy Corporation, will use industry-leading DTN TABS(TM) credit and product allocation controls for its rack marketer customers.
Valero’s use of DTN TABS will enable rack marketers to gain complete control over what they are selling and the credit they are extending. Valero’s rack marketer customers using DTN TABS can access real-time loading data from the terminal to prioritize volume for themselves and their top customers. Real-time bills of lading from DTN TABS expedite early customer invoicing to speed order-to-cash cycle and free up working capital. Flexible customer credit controls in DTN TABS also ease threatened lines of credit. “Because we understand the challenges our customers face, we expect DTN TABS to be a win-win,” said Valero Energy Corporation Vice President, Alan Cerwick. “Our rack marketer customers can more effectively monitor and control activity at the rack.”
DTN TABS authorizes or denies a customer trying to load fuel at the terminal based upon pre-defined controls, which reduces the risk of credit losses and/or inventory runs. Rack marketers have the flexibility to manage volume the way they need to — with allocation controls to limit liftings at the rack set either in dollar amounts or by time periods. If they choose, rack marketers also can allocate volume from any combination of suppliers at terminals across the country. DTN TABS even allows rack marketers to limit global volume for a specific customer across multiple terminals, or immediately stop all volume for a specific customer.
“Valero Energy Corporation is deepening their trusted supplier status by proactively supporting their customers’ needs,” says Robert Gordon, chief executive officer, DTN. “Rack marketers using DTN TABS reduce credit risk and improve supply management.”
An instant, up-to-the-minute view of rack demand helps Valero’s customers proactively manage supply and take quick action to capture new sales opportunities. Controls in DTN TABS are flexible to allow for customized business management — by customer, by terminal or across terminals. Rack marketers can independently control daily, weekly and monthly product allocations as needed to quickly respond to changing market conditions at a specific terminal with just a few keystrokes. Proactive alerts sent from DTN to a cell phone or e-mail address notifies users when an allocation is nearing a specified percentage, so that potential issues can be fixed before an allocation is reached.
Valero Energy Corporation is a Fortune 500 company based in San Antonio, with approximately 22,000 employees and 2007 revenues of more than $95 billion. The company owns and operates 16 refineries throughout the United States, Canada and the Caribbean with a combined throughput capacity of approximately 3.1 million barrels per day, making it the largest refiner in North America. Valero is also one of the nation’s largest retail operators with approximately 5,800 retail and branded wholesale outlets in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. Please visit http://www.valero.com for more information.
DTN, a private company based in Omaha, Neb., is the leading business information services company focused on agricultural, energy and weather business markets. The company delivers business critical information to more than 700,000 subscribers across its vertical markets. For more information about DTN visit http://www.dtn.com or call 952.851.7216.