Master program · Risk, Controls & Surveillance

Measure the tank. Explain the loss. Control the book.

Master physical inventory and terminal operations: tanks and storage, receipts and deliveries, measurement and quality, blending, gains and losses, title transfer, terminal scheduling, inventory valuation and the reconciliation that keeps the physical book and the ETRM in agreement.

Tanks · Measurement & quality · Blending · Gains & losses · Title transfer · Valuation · Reconciliation

Enquire about this programme See the 130 chapters

130 chapters · 12 modules · Python + SQL labs · one continuous case · end-to-end capstone

How it is built

Cumulative, not modular

Chapter 130 should be impossible to complete properly without the artefacts built in the chapters before it. The programme follows one continuous fictional firm, NorthStar Energy Trading, so relationships between trades, positions, agreements, exposures and decisions accumulate rather than reset.

The learning chain

Receipt → Measurement → Quality → Tank → Blending → Loss → Title → Delivery → Valuation → Reconciliation → Inventory control

The technical build

Tank model → Movement ledger → Measurement engine → Blend calculator → Loss analyser → Valuation engine → Reconciliation suite → Inventory control platform

NorthStar Energy Trading is a fictional firm created for teaching. It does not describe any real company, person or investigation.

Curriculum

12 modules · 130 chapters

M0 Physical Inventory & Terminal Operations Primer Ch 1–8 · 8 chapters

Establish the end-to-end operating model

  1. What a Physical Commodity Operations Function Actually Does
  2. Trade → Movement → Inventory → Delivery
  3. Physical Inventory vs Book Inventory
  4. Terminal, Storage and Logistics Architecture
  5. Inventory States
  6. Quantity, Quality, Location and Ownership
  7. Operations, Scheduling and Inventory Control Roles
  8. NorthStar Physical Operations Model
M1 Terminal & Storage Infrastructure Ch 9–20 · 12 chapters

Understand where the commodity physically sits

  1. Terminal Anatomy
  2. Tank Types
  3. Gross vs Working Capacity
  4. Tank Heel
  5. Dead Stock and Unpumpable Quantity
  6. Tank Allocation
  7. Pipeline Interfaces
  8. Marine Terminal Interfaces
  9. Truck and Rail Operations
  10. Storage Agreements
  11. Owned vs Third-Party Storage
  12. NorthStar Facility & Tank Master
M2 Physical Movements, Scheduling & Nominations Ch 21–34 · 14 chapters

Turn commercial trades into executable movements

  1. Movement Lifecycle
  2. Receipt Scheduling
  3. Delivery Scheduling
  4. Pipeline Nominations
  5. Vessel Nominations
  6. Terminal Slot Management
  7. Batch Sequencing
  8. Movement Dependencies
  9. Rescheduling
  10. Capacity Constraints
  11. Operational Priority
  12. Movement Status and Inventory Availability
  13. Scheduling Exceptions
  14. NorthStar Terminal Scheduling Engine
M3 Inventory Measurement & Quantity Control Ch 35–48 · 14 chapters

Determine how much commodity physically exists

  1. Inventory Measurement Fundamentals
  2. Tank Gauging
  3. Temperature Measurement
  4. Density
  5. Gross Observed Volume
  6. Gross Standard Volume
  7. Net Standard Volume
  8. Mass vs Volume Inventory
  9. Metered Movements
  10. Opening and Closing Stock
  11. Measurement Uncertainty
  12. Book vs Physical Quantity
  13. Inventory Reconciliation
  14. NorthStar Inventory Quantity Engine
M4 Losses, Gains & Inventory Variance Ch 49–60 · 12 chapters

Explain where quantity differences come from

  1. Why Inventory Losses Occur
  2. Normal vs Abnormal Loss
  3. Evaporation Loss
  4. Transit Loss
  5. Loading and Discharge Differences
  6. Pipeline Interface Loss
  7. Sampling and Handling Loss
  8. Inventory Gain
  9. Loss Allowances in Contracts
  10. Loss P&L
  11. Loss Investigation
  12. NorthStar Gain/Loss Control Engine
M5 Product Quality & Specification Control Ch 61–74 · 14 chapters

Understand what commodity NorthStar actually owns

  1. Why Quality Is Commercial
  2. Crude Oil Quality
  3. Refined Product Specifications
  4. LNG Quality
  5. Biofuel Quality
  6. Sampling
  7. Laboratory Testing
  8. On-Spec vs Off-Spec Inventory
  9. Quality Claims
  10. Quality Giveaway
  11. Quality Bank
  12. Quality Adjustment Pricing
  13. Quality Hold and Release
  14. NorthStar Quality Control Model
M6 Blending & Product Optimization Ch 75–88 · 14 chapters

Turn inventory into higher-value products

  1. Why Commodity Blending Exists
  2. Blending Mass Balance
  3. Linear Quality Blending
  4. Nonlinear Blend Properties
  5. Gasoline Blending Concepts
  6. Diesel/Gasoil Blending
  7. Crude Blending
  8. Biofuel Blending
  9. Blend Recipe
  10. Blend Scheduling
  11. Blend Cost
  12. Blend Margin
  13. Blend Variance
  14. NorthStar Blend Optimization Engine
M7 Title, Custody & Ownership Ch 89–100 · 12 chapters

Determine whose inventory it really is

  1. Title vs Possession
  2. Title Transfer Events
  3. Risk Transfer vs Title Transfer
  4. Custody
  5. Third-Party Inventory
  6. Pledged Inventory
  7. Reserved Inventory
  8. Commingled Inventory
  9. Inventory Entitlement
  10. Title Reconciliation
  11. Double-Sale and Double-Pledge Controls
  12. NorthStar Ownership & Entitlement Engine
M8 Inventory Valuation & P\&L Ch 101–112 · 12 chapters

Convert physical stock into controlled financial value

  1. Inventory Valuation Fundamentals
  2. Inventory Cost Basis
  3. Replacement Value
  4. Benchmark Plus Basis Valuation
  5. Inventory Mark-to-Market
  6. Realized Inventory P&L
  7. Storage Cost Accrual
  8. Loss and Quality P&L
  9. Inventory Ageing
  10. Inventory Financing Cost
  11. Physical vs ETRM Valuation Reconciliation
  12. NorthStar Inventory Valuation Engine
M9 Terminal Commercial Economics & Capacity Optimization Ch 113–120 · 8 chapters

Treat terminal capacity as an economic asset

  1. Storage Fee Economics
  2. Throughput Economics
  3. Tank Utilization
  4. Capacity Opportunity Cost
  5. Contango Storage Trade
  6. Tank Turn Optimization
  7. Terminal Capacity Allocation
  8. NorthStar Terminal Economics Optimizer
M10 ETRM, Data & Operational Technology Ch 121–126 · 6 chapters

Industrialize physical inventory control

  1. Physical Inventory Canonical Data Model
  2. ETRM Physical Inventory Model
  3. Terminal System Integration
  4. Movement Event Architecture
  5. Inventory Reconciliation Platform
  6. Building the NorthStar Physical Operations Platform
M11 NorthStar Inventory Crisis Capstone Ch 127–130 · 4 chapters

Reconstruct inventory when the numbers stop agreeing

  1. The Missing 18,400 Barrels
  2. Reconstruct Physical Inventory
  3. Determine Ownership, Quality and Value
  4. Physical Operations Committee Defence
How it is delivered

Three ways to take Physical Commodity Inventory, Terminal Operations & Inventory Control

Self-paced is a document-and-media programme with lifetime access - no live sessions. Cohort and enterprise add live instructor-led training. Mentorship is not offered in any tier.
Feature Self-paced Cohort Enterprise
Format Written chapters, video explainers and podcasts Everything in self-paced, plus scheduled live sessions Everything in cohort, delivered privately to your team
Live sessions None Scheduled, instructor-led Scheduled, instructor-led, private
Mentorship Not offered Not offered Not offered
Access Lifetime Lifetime Lifetime for every enrolled seat
Pace Entirely your own Guided schedule with a peer group Agreed with your desk
Tailoring Fixed curriculum Fixed curriculum Sequenced to your markets, systems and governance
Best for Individuals learning around a job Individuals who want structure and deadlines Desks building the same capability together
For individuals

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For teams

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Private delivery for your desk, sequenced to your markets and systems. Tell us the team and we will scope it.

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