This is a generalized expression for products whose quantity values cannot be expressed by just using integer numbers (1, 2, 3, 4…) and units of dimension one (1) (e.g. 2 pieces, 5 pallets, 7 boxes etc.), as it is the case for discrete products.
Bulk products appear in solid, gaseous or liquid form. Natural gas, LNG, crude oil and products (gasoline, jet fuel, asphalt, LPG …) are all bulk products.
Crude oil is a liquid bulk product; quantity values of crude oil, e.g. :
- 10 840.6 barrels at 95 °F (total observed volume – TOV)
- 1447.43 long tons (net standard weight – NSW)
require complex measurements (e.g. to determine the total observed volume – TOV) and quantity conversions (e.g. to obtain a net standard weight – NSW from TOV) and are typically expressed as decimal numbers with a level of accuracy, that is determined by the measurement accuracy; thus realistic rounding is crucial and defined in various measurement standards.