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Editorial Team 26 Aug 2019 By Editorial Team

Why Your Business Needs Wetstock Management

Why Your business needs wetstock management

Proper and comprehensive wetstock management can offer fuel retailers real-time, accurate and actionable insights to help them manage their network of products.

For example, a modern data-driven wetstock management solution minimises any false alarms, resulting in fewer site visits by contractors. At the same time, dynamic calibration of the fuel tanks becomes more accurate. And, when wetstock reconciliation is done properly, the costs for facilities maintenance are greatly reduced.

 

Why Companies Should Consider Investing In Wetstock Management

Below are some of the benefits that petroleum retailers can enjoy from a wetstock management solution.

 

1.  Minimal variance issues

Improperly calibrated tanks are a common cause of fuel variance.

A comprehensive fuel management system starts with accuracy- dynamic tank calibration gives fuel retailers greater visibility over fuel losses and also improves fuel replenishment, delivery times and profit.

 

2.  Early and educated leak detection

Even the smallest leaks can put a huge dent on your company’s finances. From clean-up costs to a sullied reputation, as well as potentially hazardous environmental damage, leaks have the potential to bankrupt a company.

A modern wetstock management solution can detect both small and slow leaks continuously.

 

3.  Ensure proper delivery quantity

Bulk stock variations are a common frustration for fuel wholesalers and retailers alike.

Having accurate, matched and compensated tanker versus underground in-tank fuel data provides a scientific resolution to an age-old problem.

 

4.  Minimal losses

With a modern wetstock monitoring solution, fuel retailers and oil companies can manage their operations better and minimise any losses based on write-offs and over/under dispensing of fuel.

 

5.  Proper compliance

Non-compliance is costly.

With a proper wetstock management solution, fuel retailers can rest easy knowing that the system helps minimise any potentially hazardous anomalies while also making auditing easier.

 

What Are the EPA Regulations and Fines for Leakage?

The EPA has regulations and standards in place that fuel retailers will have to follow and meet (or, if possible, exceed) to prevent problems such as leakage.

This includes requiring retailers to submit SIR analysis data on time, as well as consistent and accurate monitoring of their inventory.

Failure to do that can result in significant fines.

Leaks, however, are the main priority here.

Leaks can be costly for service stations. These mishaps can and have bankrupted multiple retailers in the past, especially those who have a “bare-minimum” attitude, or think that they’ll never encounter a leak.

Leaks, among many other reasons, are why it’s crucial to have a reliable, automated wetstock management system in place for fuel retailers.

How Fuelsuite Can Solve Your Problems

If you own or operate a fuel retail business, whether it’s small, medium-sized or big, you’ll benefit from a trustworthy wetstock management system like Fuelsuite.

A fuel monitoring system like Fuelsuite can help ensure compliance of your tanks and make sure that operations are up-to standard, while also allowing you to take action if and when operations hit a snag.

Make sure to download our PDF brochure to know more about Fuelsuite and how we can help your business.

 

Fuel Management System

A modern, data-driven wetstock management solution offers fuel retailers real-time, accurate and actionable insights to help them manage their network of products.