Trecora will utilize Odyssey’s full suite of data analytics and reporting to create transparency and performance enhancements
February 25, 2020 – Odyssey Logistics (Odyssey) today announced it has signed a multi-year managed logistics service agreement with global petrochemical products manufacturer Trecora Resources (Trecora) (NYSE:TREC).
Trecora initially entered into a supply chain consulting agreement with Odyssey to evaluate logistics costs in ISO tank shipments, liquid bulk truck and rail operations. This agreement 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. 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,” said Patrick D. Quarles, president, CEO and director, Trecora. “We look forward to continuing our work together with Odyssey to drive further improvements and long-term 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,” said Bob Shellman, president and CEO, Odyssey. “Through our technology and efficiency roadmap, Trecora will utilize a full suite of data analytics and reporting tools to create cost transparency and performance enhancements.”
Trecora’s principal business activities are the manufacturing of various specialty petrochemical products and synthetic waxes and the provision of custom processing services. It will leverage Odyssey’s Managed Logistics Services to optimize all aspects of Trecora’s transportation 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.