FuelQuest Fuel Management System (FMS) is the industry's most comprehensive fuel management solution, enabling companies to dramatically lower the cost of procuring, managing, and selling bulk fuel. FMS automates all aspects of the fuel management process including demand forecasting, fulfillment, inventory management, sales and purchase order management, financial management, and environmental compliance. Using FMS, fuel procurement and sales managers can maximize fuel margins by understanding demand patterns; optimizing inventory; centralizing supply contracts; determining best price on market versus contract; determining margin on each sale; and reconciling deliveries, invoices, payments, and taxes.
FMS unites suppliers, distributors, and buyers in the largest fuel management network in North America with billions of gallons managed annually. The solution automates all aspects of the fuel management process using a modular architecture that enables customers to address specific challenges in the fuel supply chain and scale to meet expanding requirements. By partnering with key solution providers in the fuel industry, and seamlessly integrating suppliers, distributors, carriers, and retailers into the network, FMS delivers automation across the entire fuel supply chain. Because fuel is a mission-critical aspect of our customers' businesses, FMS is delivered in a high availability SaaS (Software as a Service) offering with enterprise-class security, scalability, and fail-over support.
- Reduced run-outs, retains, and over- & under-payments
- Lower working capital requirements and fuel costs
- Streamlined procurement, delivery, sales, and financial management
- Greater visibility into fuel inventory, true costs, and margins
- Improved security of supply
FuelQuest FMS Inventory Management provides visibility and forecasting of fuel inventory. Using inventory data collected automatically via automatic tank gauges (ATGs), or manually gathered through a central portal, Inventory Management provides visibility into inventory status, history, usage, and deliveries. Advanced forecasting capabilities predict run-out and retain situations and automatically generate orders anticipating fuel needs across all tanks. FMS enables Just-In-Time (JIT) inventory levels that minimize working capital requirements.
FuelQuest FMS Order Management automates purchase order, dispatch, delivery, and sales order processes for bulk fuel. Order Management enables the creation, tracking, and management of fuel purchase orders, including those generated by FMS Inventory Management and other order management systems. For distributors, Order Management also automates bulk fuel sales order processes with phone and online ordering, accurate price quoting, credit workflow, margin visibility, and sales order approval processing. Order Management's Strategic Sourcing module enables buyers to analyze all sourcing options for a given fuel purchase, considering fully accounted cost, contract ratability, and other factors to present optimal sourcing options given user-defined prioritization rules. Order Management dispatches orders directly to carriers, calculating prioritization and time windows to avoid run-out and retain situations, and enabling split load planning and diversion processing. For in-house fleets, Order Management schedules truck deliveries, evaluating round trip times, truck capacity, tanker compartment allocation, and driver assignments. Fuel distributors can improve profitability by analyzing margins on each sales order, improving invoice accuracy, and enhancing sales process efficiency. Order Management also captures electronic and manual delivery, order, and bill of lading (BOL) information from carriers.
FuelQuest FMS Environment Compliance reduces the cost and mitigates the risk of compliance with environmental regulations and corporate policies. By gathering and tracking inventory, sales, and delivery data, Environmental Compliance analyzes variances for improved visibility, tracking, resolution, and reporting of potential non-compliance situations. Environmental Compliance provides notification and management of ATG alarms via a central management console and an advanced response protocol. Reporting capabilities automate the creation and management of regulatory compliance reports.
FuelQuest FMS Financial Management automates critical financial processes associated with bulk fuel including freight calculation, pricing, invoicing, and reconciliation. Financial Management gathers manual and electronic bills of lading as well as price feeds from all major fuel price services providing centralized management of freight contracts. Using this information, Financial Management accurately calculates product and freight costs. These costs, as well as any contracted pull obligations, are utilized by FMS' strategic sourcing capability. Financial Management includes best-in-class tax calculation of indirect motor fuels taxes ensuring proper invoice calculation. Financial Management also reduces over-payment by automating the process of reconciling financial documentation - including delivery notification, BOLs, invoices, payment notifications, and bank drafts - using a manage-by-exception approach that minimizes manual effort and costs.
Via a standardized interface, FuelQuest FMS seamlessly integrates with required back-office including SAP, Oracle, Great Plains, JD Edwards, PDI, Microsoft Dynamics, AIMS, DM2, and many more. The FMS application interface also enables our product and services teams to integrate with legacy and custom systems as required.
With FMS, customers can:
- Lower fuel costs and working capital requirements
- Reduce run-outs, retains, theft, and over- and under-payments
- Optimize for lowest cost fuel purchases while maintaining contract ratability
- Streamline delivery, compliance, sales, and reconciliation activities
- Gain greater security of supply and true cost and margin tracking
- Seamless integration with existing enterprise systems such as SAP, Oracle, JD Edwards, PDI, and Great Plains.
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 its total revenue, focus primarily on in-store profit centers abandoning fuel as a profit driver for the business.
Fuel cost volatility is an anathema for private and government fleets striving to meet financial and operational goals. With fuel typically the second highest expense item after headcount, fleet operators face many challenges regaining predictability in their fuel spend.
Private and public fleets, rail, bus lines, airlines, marine, and more require a consistent and affordable supply of fuel. With high volatility in fuel markets and fuel costs representing the second largest expense behind headcount, fuel buyers face great pressure to maintain predictability in their fuel spend and implement cost-saving measures.
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FuelQuest’s FMS simplifies and automates the management of each step of the supply chain, from determining a need for fuel, to pricing fuel orders, to reconciling delivery receipts, all the way to validating invoice accuracy and financial reconciliation of supplier bank drafts.
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