Benefits of Encouraging Transparency in Industry

Benefits of Encouraging Transparency in Industry | Flowmetrics

Singapore is known for many notable features. It is a beautiful area naturally rich in scenery and culture. It is also an international hub of trade and transport, and it boasts the world’s largest refueling center for ships. The latter of these features is great for the local economy, but developments in recent years have led to evolving legislature. It is now mandated through the Singapore flow meter regulation that providers use mass flow meters to carefully measure and record the amount of fuel being sold to consumers. Though this development has been subject to some resistance, there are plenty of reasons why the Singaporean government might want to take the lead in encouraging transparency.

Reliably Track Inventory and Sales

By forcing providers to offer an immediate measurement of their fuel, the law provides sellers with the obligation to more accurately track their sales and inventory. Though such efforts might seem small, this helps individual providers report to authorities more accurately, too. A high quality flow meter can accurately gauge the flow of gas or liquid being processed and offer unparalleled insight into volume metrics. This data is essential for authorities, and prior to the implementation of flow meters, there were few options for reliably garnering this information.

Explore Ways to Measure Metrics

In implementing the use of flow meters for all fuel sellers, Singaporean authorities encouraged providers to find systems that fit the specifications they had set forth. Though this may seem like a rather narrow range of possibilities, there are actually a number of flow meter models that can potentially be used. In its initial implementation, some providers expressed reservations surrounding the accuracy of results produced by flow meters. Quality providers, however, offer fully integrated systems that not only measure the mass of the product, but also provide innovative digital technology to users who rely on the meters.

Streamline the Fueling Process for Buyers and Sellers

One of the biggest reasons the Singapore flow meter regulation was enacted was the slow service fuel buyers dealt with every time they stopped to refuel in Singapore. These conditions nearly made refueling centers inaccessible at points, but there is a solution in flow meters. A meter can eliminate the difficult and often inaccurate labor of measuring fuel manually, and instead, automates the system for improved efficiency. Both sellers and buyers benefit since sellers are able to provide for more clients and buyers are able to continue on in a timely manner.

 

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