A computer implemented blend control system for preparation of a hydrocarbon blend from a plurality of components drawn from respective component tanks, said system comprising: a) at least one sensing and analyzing means adapted to sense and analyze a first attribute of at least one of the components for obtaining first attribute data; b) at least one processing means operatively connected to the at least one sensing and analyzing means and adapted to process the first attribute data to derive a second attribute data to be transmitted to a comparator means for comparing the second attribute data with an attribute based model data; and c) at least one optimizing means operatively connected to the at least one processing means, said optimizing means having: i) a data storage device for storing the attribute based model data; ii) a receiver for receiving the second attribute data; iii) a comparator means adapted to compare the second attribute data with the attribute based model data, the comparator means further adapted to compute an optimized proportion data between each of the component streams to enable selective drawing of each of the component streams in accordance with the optimized proportion data for preparing the hydrocarbon blend; and d) a flow regulating means operatively connected to the at least one optimizing means and individual component tanks, said flow regulating means adapted to control the flow of component streams based on the optimized proportion data, wherein the first attribute of said component streams is a property attribute, the first attribute data is property data, a second attribute of said component streams is a composition attribute, the second attribute data is composition data and the attribute based model data is composition based model data or, the first attribute of said component streams is a composition attribute, the first attribute data is composition data, the second attribute of said component streams is a property attribute, the second attribute data is property data and the attribute based model data is property based model data. a) at least one sensing and analyzing means adapted to sense and analyze a first attribute of at least one of the components for obtaining first attribute data; b) at least one processing means operatively connected to the at least one sensing and analyzing means and adapted to process the first attribute data to derive a second attribute data to be transmitted to a comparator means for comparing the second attribute data with an attribute based model data; and c) at least one optimizing means operatively connected to the at least one processing means, said optimizing means having: i) a data storage device for storing the attribute based model data; ii) a receiver for receiving the second attribute data; iii) a comparator means adapted to compare the second attribute data with the attribute based model data, the comparator means further adapted to compute an optimized proportion data between each of the component streams to enable selective drawing of each of the component streams in accordance with the optimized proportion data for preparing the hydrocarbon blend; and i) a data storage device for storing the attribute based model data; ii) a receiver for receiving the second attribute data; iii) a comparator means adapted to compare the second attribute data with the attribute based model data, the comparator means further adapted to compute an optimized proportion data between each of the component streams to enable selective drawing of each of the component streams in accordance with the optimized proportion data for preparing the hydrocarbon blend; and d) a flow regulating means operatively connected to the at least one optimizing means and individual component tanks, said flow regulating means adapted to control the flow of component streams based on the optimized proportion data,