Statistical Inventory Reconciliation definition

Statistical Inventory Reconciliation means a procedure to determine whether a tank is leaking based on the statistical analysis of measured throughput and a series of daily inventory records taken manually by the tank owner or operator or recorded electronically.
Statistical Inventory Reconciliation or “SIR” means Release Detection methods based on the application of statistical principles to inventory data.
Statistical Inventory Reconciliation or “SIR” means a method using statistics and simple inventory reconciliation to determine if a tank system is leaking. SIR providers shall use a method that has been approved in writing for use in the UST program by the U.S. Environmental Protection Agency.

More Definitions of Statistical Inventory Reconciliation

Statistical Inventory Reconciliation or “SIR” means a method using statistics as well as simple inventory reconciliation to determine if a tank system is leaking. SIR providers must use a method which has been approved in writing for use in the UST program by the Environmental Protection Agency.
Statistical Inventory Reconciliation means an approved monthly monitoring method for underground storage tanks (USTs) and piping as outlined in the Environmental Code of Practice for Aboveground and Underground Storage Tank Systems Containing Petroleum and Allied Petroleum Products.
Statistical Inventory Reconciliation or "SIR" means a leak-detection system that uses computer software to conduct a statistical analysis of inventory, delivery, and dispensing data collected over a period of time to determine if a UST system is leaking.

Related to Statistical Inventory Reconciliation

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Obsolete Inventory means items that have expired, are redundant or damaged;