The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Aug. 25, 2020
Filed:
Apr. 20, 2016
Aspen Technology, Inc., Bedford, MA (US);
Robert M. Apap, Pittsburgh, PA (US);
Dimitrios Varvarezos, Houston, TX (US);
Aspen Technology, Inc., Bedford, MA (US);
Abstract
A computer system and method optimize feedstock selection planning for an industrial process by evaluating first and second stages at separate intervals throughout the planning process. Evaluating the first stage determines a set of robust feedstocks to procure on long-term contracts. The computer system and method solve, in parallel, multiple simulation cases of a non-linear model generated with different expectation values for uncertain input parameters related to selecting feedstocks to procure on long-term contracts. Probabilistic analyses on the solutions from the simulation cases, including the application of chance-constraints, determine the set of robust feedstocks to procure on long-term contracts. Evaluating the second stage determines a set of robust feedstocks to procure in the spot market, using the information from the first stage. Specifically, the computer system and method solve each of multiple new simulation cases of the non-linear model, generated with different expectation values for uncertain input parameters related to selecting feedstocks to procure in the spot market. Each simulation case is solved to determine breakeven prices for one or more available spot feedstocks, and probabilistic analyses are performed on the breakeven prices for these spot feedstocks to determine a set of robust feedstocks to procure in the spot market.