Inventory Projections - Terms and Definitions

Inventory Projections  

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Found within the Inventory Dashboard, Inventory Projections forecast how upcoming inventory transactions will impact an Inventory Owner’s balance, equipping users with the information to monitor and plan inventory movements of refined fuels in ONEOK's system. 

 These projections consider: 

• Current inventory balances by Pipeline System and Product Group 

• Accepted inventory transactions such as Shipments, PTO’s and RCN’s  

• Anticipated daily terminal loading, calculated as a daily average. 

By using Inventory Projections, Inventory Owners can identify when they might exceed their maximum or fall below their minimum limits. This insight allows them to take proactive steps to maintain balance and avoid disruptions. 

What are Mins and Maxes? 

Minimum and maximum allocations (Mins and Maxes) define the volume limits that an Inventory Owner must maintain within the pipeline system for each Product Group. Staying within these limits ensures inventory moves smoothly and remains in compliance. Exceeding or falling short of the set boundaries can disrupt operations and trigger corrective actions. 

• Avg. Daily Loadings – The 30-day average of terminal load volumes, updated nightly at midnight. For the South and Mountain systems, as well as all Q grade product groups, this figure includes offline, delivery, and rack activity. 
• Current Supply – The number of Days for which you have volume based on the Avg. Daily Loadings, updated nightly at midnight. 
• Estimated Min. – A daily-updated projection of next month’s minimum, based on current 30-day volume trends. This is a calculation of what the next month minimum is “trending to be”. It becomes the Next Month Min. on the 1st of each month.   
• Next Month Min. –  This value updates on the 1st of each month, and becomes the Current Effective Minimum on the 8th. This equips Inventory Owners with a week’s notice to adjust inventory levels accordingly before the new minimum takes effect.  
• Next Monday Max. – This calculation forecasts what next week’s Max is “trending to be”. 
• Min/Max Participation %  - This figure represents your share of product loading at ONEOK refined product terminals over a rolling 30-day period by Product Group and Pipeline System. It reflects how much volume you’ve been loading compared to all Inventory Owners in the system. 
• Min. System Vol. – Volume held in the Inventory Owner’s minimum allocation location.
• Min. System Status – Indicates whether an Inventory Owner’s current minimum allocation requirement has been met; status is either Open (minimum met) or Suspended (minimum not met and rack deliveries are on hold). 

Current Inventory 

• Current Total Volume – The total amount of an Inventory Owner's product currently in the pipeline system by product group, including both in-transit and available barrels, used to monitor their active supply position. 
• Current Maximum –  The active maximum volume limit that an Inventory Owner is allowed to keep in the pipeline system by product group, which is updated every Monday at midnight and effective Tuesday through the following Monday.
• Current Minimum – The minimum volume an Inventory Owner is required to store in the system for the month, recalculated at the start of each month and enforceable by the 8th day if increased.  
• Excess Volumes – Only displays if there is Excess Inventory in Mins or Maxes
  • MIN - Any excess minimum allocation volume from the previous month’s minimum allocation that becomes available for reconsignment out of the minimum allocation location on the eighth day of each month. 
  • MAX - The volume above the midnight maximum allocation limit that indicates that the product group is overallocated in the given pipeline system.
• Additional Volume Needed – This calculation informs Inventory Owners of the additional volume required in the minimum allocation account to meet monthly minimum requirements. Displayed on the 1st of each month and must be satisfied by the 8th when the Current Minimum becomes enforceable. 

Inventory Statuses

• In Transit – Product inventory currently being transported in the pipeline system. 

• Available Reserved – The product inventory available marked as reserved for the Inventory Owner holding the product for specific purposes (I.e. for a future Reconsignment).  

• In Transit Reserved – The product inventory currently being transported marked as reserved for the Inventory Owner holding the product for specific purposes. This inventory is not available to customers to utilize for transactions. 
• Available – Product inventory currently available in storage. 
  
  

Future Projections 

Future Projections provide insights into future inventory levels based on transactions that are scheduled to occur. The following parameters are displayed in Future Projections: 

• Projection Date – Day for which the inventory is projected.  

• Projected End of Day Volume
• Click on any Future Projections box to view details on projected volume and scheduled transactions for that given day

• Alerts: 

• • A dot is displayed on the dates with scheduled transactions. 

• • OVER MAX - If the projected inventory exceeds the maximum allocation limit, the day is marked as over allocation.  
    

• • • No additional product can be received, and all new transactions are assigned a Cannot Book status. 

• • UNDER MIN - If the projected inventory is under the Min Allocation Limit applicable to that date, then the day is marked as under allocation and all movements are suspended. 
    

Rack Adjustments  

Located in the top right of the Inventory Projections screen, click to view: 

• Contract Tank Min. Adjustment – This set volume adjustment is added into an Inventory Owner’s minimum allocation based on their storage lease agreement, if they participate in rack loading. If the Inventory Owner does not rack barrels, only the lease-based minimum applies for minimum allocation. 

• Contract Tank Max. Adjustment – This set volume adjustment is defined by the Inventory Owner’s storage lease agreement and is factored into the maximum allocation.  

• Rack Minimum Adjustment – A tool that ONEOK can use to temporarily adjust minimum allocations for Inventory Owners to ensure smooth operations. This tool can add or subtract from current mins and next effective min limits.  

• Rack Minimum Expiry – The expiration date of the minimum rack adjustment in place. 

• Rack Maximum Adjustment – A tool that ONEOK can use to temporarily adjust maximum allocations for Inventory Owners to ensure smooth operations. This tool can add or subtract from current max and next month max limits.  

• Rack Maximum Expiry – The expiration date of the maximum rack adjustment in place.