insights

Retail Fuel Theft

Russell Dupuy 02 Oct 2017 By Russell Dupuy

How can I improve my fuel purchasing process?

Site Managers often make fuel purchasing decisions based off their gut-feeling due to a lack of available tank data. When you order fuel for your site, are you relying on your intuition or the hard facts?

If you’re guessing how much fuel you need to order for your site, you’re exposed to purchasing errors which can take a chunk out of your bottom line.

In this month’s blog, we discuss how you can ensure you’re ordering fuel with precision.

Errors in the fuel purchasing process: the consequences of guesswork

When there is so much guesswork involved, it’s no surprise that errors often occur during the fuel purchasing process.

Errors in fuel purchasing can:

  • Leave you without enough fuel to serve your customers;
  • Leave you with too much fuel to safely store, and;
  • Damage your bottom line through over or under-supply.

Under-fuelled stations can run out of fuel before the next delivery (and therefore have no business). Alternatively, over-fuelled stations have more fuel than there is room to store, resulting in a waste of money through haul-backs or re-directs. These are problems that usually can’t be rectified until the next delivery — in the meantime, they suffer an expensive loss in profit.

How do I get accurate data to streamline my fuel purchasing process?

From this information, it is obvious that a new system for fuel purchasing supported by real-time tank data is needed. To order fuel, site managers need to be able to accurately forecast how much the site will sell in the next week.

This system should be able to tell how much fuel is left in the station’s tanks. It would need to be able to use this information to determine how much fuel needs to be ordered — enough to satisfy demand without storing excessive unused amounts.

A system would also be advantageous if it could predict how long delivery will take to be received, as well as if there is any free space in the tanks to store a surplus amount of fuel.

Fuelsuite: gaining control over your fuel purchasing process

Monitor and manage fuel purchasing across multiple sites from the comfort of your desk.

Fuelsuite is a cloud-application that allows petrol organisations to monitor their fuel supply in real-time, it allows petroleum marketers to make buying decisions based on the available capacity in the tank, removing the risk of over or underbuying their fuel. There are four major benefits to this solution:

  1. Monitor your fuel supply in real-time – Fuelsuite allows you to know how much fuel is in your tanks, across all of your sites.
  2. Make fuel purchasing decisions based on the available capacity in the tank – which removes the risk of over or under ordering.
  3. Access to transactional data, which displays trends, frequencies and tank static volume – allowing you to accurately predict how much you should be expected to sell in the next week.
  4. Control over the fuel spend across multiple sites – Fuelsuite allows you to easily track performance of all your sites.

With this heightened visibility, Fuelsuite allows organisations to make better predictions of their fuel sales because it is based on accurate, real-time data. Not only does this lead to a decreased chance of loss of profit, but it also allows them to make informed decisions about their sites based on a wide spread of data.

To gain accuracy and control across all your site’s fuel purchasing process, contact EMS today.