Convenience stores, grocery stores, service stations, and big box retailers are finding fuel a tough business to achieve and maintain healthy margins. It's so difficult that many convenience stores, for instance, where fuel comprises roughly 70% of total revenue, focus primarily on in-store profit centers, abandoning fuel as a profit driver for the business. Why is the fuel retail business so difficult? Here are a few of the reasons:
- Fuel costs are volatile causing difficulty in coordinating purchases with margin goals
- Fuel pricing at the pump is highly competitive causing margin pressure
- Manual processes and decisions based on inaccurate, out of date, or no data increase fuel costs unnecessarily
- Retailers still view fuel as critical to their business in large part because it drives foot traffic into stores.
- Retailers view even modest margins though as a great success.
How Does FuelQuest Help?
FuelQuest provides software and services that optimize fuel operations for retailers driving down costs and providing greater control and visibility into the true cost of fuel. FuelQuest restores healthy margins and makes retailers more competitive at the pump. Retailers who use FuelQuest view fuel as an important profit center to their business and realize they can turn fuel market volatility into an opportunity.
FuelQuest retail customers are a who's who in the industry including 7-Eleven, Brookshire Grocery Company, Couche-Tard, Cumberland Farms, Hub City Convenience Stores, Hy-Vee, Palace Truck Stop and Casino, Meijer, and more. With FuelQuest, retailers gain the following:
- Reduced run-outs, retains, and invoice under- & over-payments
- Optimized fuel inventories, security of supply, and lower working capital requirements
- Centralized, transparent, and lowest-cost fuel procurement
- Environmental and regulatory compliance.
FuelQuest offers retailers several options - Fuel Management System (FMS), a fuel management automation software product; ForeSite, a family of cost-effective, easy to deploy fuel management products; and Fuel Center®, an outsourced fuel management service.
What Is Fuel Management System (FMS)?
Fuel Management System is Software as a Service (SaaS) based product that automates all aspects of the fuel management process providing demand forecasting, inventory management, order management, dispatching, environmental compliance, invoice reconciliation, and more so customers can gain greater control and visibility over fuel as well as reduced fuel expenses. FMS powers the largest bulk fuel management network in the world and is in use by retailers and distributors - both small and large. To learn more, please visit our Fuel Management System page.
What is ForeSiteTM SV?
ForeSite SV provides real-time, independent visibility into fuel management operations, allowing supervisors to monitor and ensure the accuracy and effectiveness of their replenishment plans.
To learn more, please visit our ForeSite SV page.
What is ForeSiteTM IC?
ForeSite IC helps fuel managers track inventory and resolve issues with theft, fraud, leakage, deliveries, dispensing equipment, and operational errors that cause inventory variances.
To learn more, please visit our ForeSite IC page.
What Is Fuel Center?
Fuel Center is an outsourced fuel management service that typically provides 4-6 cents per gallon in savings to customers by optimizing and directing all fuel management activities - from supplier and distributor selection to order management to invoice reconciliation. With its team of fuel experts and industry-leading fuel management software, Fuel Center enables a supplier-independent fuel procurement and management strategy.
For retailers and fleet operators who are unsure whether their fuel management operations are optimized for today's fuel markets, Fuel Center also provides an in-depth spend and benchmark analysis service. Fuel Center determines how your operations stand against the rest of the industry and whether there are fuel savings opportunities. To learn more, please visit our Fuel Center page.