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STRAIGHT OUTTA TEXAS STRATEGY • TRECORA HAS SIGNED UP WITH ODYSSEY’S MANAGEMENT LOGISTICS SERVICE TO HELP OPTIMISE THE DISTRIBUTION OF ITS PETROCHEMICALS ODYSSEY LOGISTICS & Technology Corporation has signed a multi-year Managed Logistics Service agreement with global petrochemical products manufacturer Trecora Resources. The agreement builds on a supply chain consulting project Trecora lined up with Odyssey to evaluate logistics costs in tank container shipments, liquid bulk tank truck and rail operations. This work provided benchmarking data on Trecora’s operations, distribution network, infrastructure and offered key metrics such as total spend, vendor costs and productivity performance. “Trecora manufactures high-purity specialty petrochemicals and synthetic waxes. The quality of our products and the integrity of our supply chain are critically important to our customers,” explains
HCB MONTHLY | APRIL 2020
Patrick D Quarles, president and CEO of Trecora. “Together with Odyssey, we aim to maintain our performance profile at a lower cost by seamlessly integrating Odyssey’s technologies into our business without disruptions to service. We look forward to continuing our work together with Odyssey to drive further improvements and longterm value for Trecora, our customers and shareholders.” “Our supply chain engineers spent two months aligning with Trecora on its efforts to achieve continuous process improvements and cost savings,” says Bob Shellman, president and CEO of Odyssey. “Through our technology and efficiency roadmap, Trecora will utilise a full suite of data analytics and reporting tools to create cost transparency and performance enhancements.” WITH THE BIG BOYS Trecora’s principal business activities are the manufacturing of various specialty petrochemical products and synthetic waxes and the provision of custom processing services at two sites in Texas. It will leverage Odyssey’s Managed Logistics Services to optimise all aspects of its
transport management strategy and execution. This includes Odyssey’s vast supplier network and a team of supply chain engineers to drive cost savings, shipment visibility, insightful data reporting, continuous improvements and sustainability developments. In its end-year financial report for 2019, Odyssey noted that it has been experiencing increasing demand for its Managed Logistics Services, which enable clients to leverage a full suite of supply chain services or select individual features including cargo planning, tendering, shipment visibility, configurable event management, freight audit and payment, and management reporting. Odyssey’s Managed Services business segment’s organic revenues grew 12 per cent and earnings increased 36 per cent in 2019 versus the prior year. “Technology is fundamental to the future of logistics and Odyssey is committed to using new and future innovations to meet the increasing demands of our customers,” says Shellman. “But technology is only as powerful as the team behind it. Not only do we have a great team here, we strengthened our technology leadership in 2019 when we brought onboard Albert Lee in early 2019 as chief technology officer to lead the way in transforming Odyssey into an unrivalled global technology leader in the logistics supply chain industry.” www.odysseylogistics.com
