Industrial Decision Making- Improving Petroleum Refining Performance through Better Economic Performance Analysis

Abstract

Industrial manufacturing performance, to be efficient, must be measured against identifiable goals. The management of the plant must be charged to meet specific objectives. The typical goal for a manufacturing plant is usually to produce a quality product, safely, at the lowest raw material use and operating cost. The manner in which efficient plant performance is attained entails not only having a clearly identified goal. There must be a realistic and reliable means of measuring plant expenses affecting the goal, as well as, the capability of the plant management to change those things which affect the plants ability to meet those goals. The author suggests how these management guidlines might be better applied in the mangement of the typical petroleum refinery to improve operating decisions.