Crude & refined trading
For fuel retailers and supply and logistics departments, the main objective before or even after the pandemic has been to get the fuel in the ground at the lowest possible cost. However, market volatility and fluctuating refined fuel prices make it complex for businesses to plan and implement supply strategies for laid-in fuel. Now, this highlights the need for an all-inclusive platform that not only optimizes supply decisions but also ensures integration with logistics and dispatch.
Without further ado, let us understand how a fuel planning and supply management system specially designed for fuel retailers and c-store operators can help simplify your everyday supply decisions.
Can You Reduce Your Laid-In Fuel Cost?
Absolutely! An integrated fuel planning and supply management system can help c-stores reduce logistics and fuel supply costs with smart software applications. You can easily optimize fuel supply decisions, dispatch and logistics. Such all-inclusive solutions help you
- Make profitable, unbiased day-to-day supply decisions
- Monitor your logistics
- Handle transportation effectively
- Manage demand planning and route optimisation
Thus, supporting your entire supply and logistics processes!
Additionally, this helps you create more value for your business. How?
When fuel supply cost is reduced, retailers will witness a significantly reduced need for dispatch resources. This translates to better utilization of their assets and resources for improved profitability.
Why You Need a Single Solution for Your Entire Operations
Fuel retailers and c-stores are consistently dealing with a low-margin business which is mired by variable demand patterns, complex supply chains, as well as challenges related to logistics and transportation. Undoubtedly, transportation efficiency and supply costs will have a direct impact on your profitability.
Moreover, when you are managing hundreds of stores with multiple supply options, an integrated solution can help you keep your stores wet.
Plus, with the right fuel planning and supply management solution, retailers are able to make the best supply decisions regularly, decreasing the supply cost.
The use of route optimization functionality improves truck utilization. It also helps you minimise overheads related to admin and dispatch by streamlining operations. Most importantly, you are able to communicate effectively and exchange data with third-party carriers.
What All Functionalities Can You Automate and Streamline
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- Contract management: With an efficient fuel planning and supply management system, you can keep a track of your paperwork centrally to speed up invoicing and accurately manage your obligations.
- Bestbuy: You can easily manage fuel operations and supply chain processes with a single, automated tool. With a single system, you can utilize real-time forecasting and direct ATG access to avoid costly runouts. Plus, it allows you to optimize costs and your working capital by buying fuel at the best price at the right time. You also get access to major oil and price feeds.
- Dispatch: Your team can reduce phone calls with real-time online orders and delivery status. You can also improve fuel delivery speed and ensure driver accountability and performance, warrant quick schedule deliveries, eliminate paperwork with electronic BOLs and delivery tickets, as well as get paid faster with rapid invoicing.
- Credit management: An integrated solution equips you to manage and reduce counterparty credit risk in real-time, and analyse pre-deal checks. Additionally, you get a consolidated view of counterparty exposures versus limits to make optimum credit decisions based on the associated risk.
- Risk management: You can know about advanced risks and access real-time position management. With in-built checkpoints and best practices, you can ensure regulatory compliance and minimise risk. Equipped with advanced analytical tools, it allows you to hedge against downside P&L risk and protect your profit margins.
- Inventory management: It enables you to manage your store inventory effectively by projecting store needs including tracking the sales, restocks, overstocks, purchase orders, and supplier performance, as well as auditing your inventory.
Final Words
If you want to keep your profits intact in a low-margin business, now is the time to invest in an all-inclusive fuel planning and supply management system. Inatech’s true cloud-native solution designed especially for fuel retailers and c-stores offers complete front, mid, and back-office automation and support. It is equipped with best-in-class tools for advanced risk analytics, real-time position, risk reduction, margin optimisation, and more!
To know how you can use Techoil CStore to run your entire business on a single platform, get in touch with us today!