All Wetstock management articles – Page 2
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News
Dover Fueling Solutions appoints Dundee-based MD for EMEA
Dover Fueling Solutions (DFS) has appointed a managing director of Europe, Middle East and Africa (EMEA). Jeroen de Gruijter will report directly to David Crouse, the president of DFS, and will be based in the DFS manufacturing centre in Dundee, Scotland. This appointment comes after brands such as ...
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News
Taking (wet-) stock
After a tumultuous year in 2016, during which more than half the companies in the sector in the UK changed hands, and a new competitor entered the market, the new make-up in wet-stock management is now clear. The newest player in wet-stock management in the UK is Suresite, a ...
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News
Leighton O’Brien appoints president, wetstock international
Leighton O’Brien has promoted Greg Salverson to the newly appointed position of president, wetstock international. Formerly international business development manager, Salverson will be responsible for continuing to grow the company’s global wetstock operations, establish and activate licensed software partners, grow client relationships, and help drive product enhancements. Commenting ...
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All change
The wet-stock management market in the UK is in a state of flux after a flurry of takeovers by US companies resulted in the prospect of the two biggest players, Vianet and Fairbanks, as well as Tokheim ProGauge, all being owned by the same American company. The first deal ...
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Profit not loss
In a high-volume, low-margin business such as fuel retailing, the accuracy of stock control can make a huge difference to profitability. If you can measure your stockholding with precision and then compare that figure with what should be in the tanks, taking into account the sales through the pumps, any ...
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Real-time rules
Wet-stock management used to be a fairly simple activity. At the end of the week it would involve measuring the change in stock levels compared with seven days earlier and trying to reconcile that with the deliveries in and the sales-out over the same period. Margins could be calculated, but ...
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Drop by drop
With fuel margins so low, it’s easy to understand why many retailers would want to keep investment in the forecourt side of their business low as well. But failing to properly monitor fuel stocks and ensure pumps are dispensing accurately could be nothing short of a false economy. Over-dispensing pumps ...
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Wet-stock Management: Moving target
I’ve only ever met one forecourt retailer who didn’t own a mobile phone. He said he didn’t need one because he was only either at home, at one of his two sites, or driving between the two. But he’s a rarity and many retailers today couldn’t survive without their smartphones ...
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Drop goal
Record fuel prices and the economic downturn mean the temptation for motorists to drive-off without paying for fuel taken from your forecourt has never been greater. And with confirmation from the British Oil Security Syndicate (BOSS) that cash losses from drive-offs rose 19% last year, keeping careful track of the ...
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Tank robbers
There are two good reasons why forecourt operators need to take their wet-stock management seriously safety and the environment; and because it makes good business sense. So says Tokheim marketing manager, David MacHale. He explains: "Responsible petrol retailers are conscious of their safety and environmental obligations ...
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News
Liquid gold
Wet stock might not make you the biggest profit margin on your site, but it definitely brings in the punters. However, in these days when the shop is the margin maker it can be overlooked and unidentified leaks mean any profit you could be making is running away. "Having a ...
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Taking stock
Record fuel prices have caused plenty of headaches for retailers in recent months, so it’s easy for wet stock management to fall down the list of priorities. But as oil prices continue to soar, experts are warning that retailers must keep an extra close eye on this area of ...
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Detect to protect
Never has it been more important to take care of your wet stock. Obviously it’s an extremely valuable commodity and any losses are money - or fuel - down the drain. However there are bigger issues at stake - namely protecting the environment. Cause damage to the environment and it ...
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NewsMeasure for measure
The average petrol retailer could be losing as much as £15,000 per site, each year, due to indifferent monitoring of his fuel stock. And that’s just for starters. Petrol is a difficult product to deal with. Unlike Mars bars, it doesn’t arrive packed up neatly in boxes which remain intact ...
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Taking control
Motor fuel is the forecourt retailer’s key commodity, and with margins so tight it is crucial that none is ‘lost’ unnecessarily. However, wet-stock loss remains a real problem for most petrol retailers with issues such as leaks, vapour loss and even faulty equipment meaning there can be large variances between ...
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