Sandi......
Turn off your all caps!!!! In some chats, this is called screaming or ranting or something.....
Yes, you can do this.... theoretically you can add a tank ( or receiver) anywhere in a compressed air system.... Now comes the question of why you wany to do this.....
Receivers allow the compressor to be sized properly for the air system. The total air demand fluctuates for the typical system and the air receiver allows the compressor to "cycle off and on" at a reasonable interval....
Now, because a plant's air system is always the bastard child of the maintenance department, it is always being changed, modified, truncated and frequently ignored. To answer questions only about a receiver, you must look at the system in total.
Receivers must always be ASME coded vessels, have properly sized relief devices, and must be periodically inspected as the bottoms tend to corrode. Most have an automatic liquid discharge device on the bottom drain.
Some have been known to fail rather dramatically by corrosive failure after years of neglect. Sometimes,(God willing) they can take the maintenance foreman along on an unexpected ride skyward.
Hope this helps...... I really shouldn't drink whisky and answer engineering posts on this fine board, ......but what the heck.....
Try
Good Luck.....................................MJC