Tank monitors are meant to take away the uncertainty of asking yourself, “How much will I deliver to this tank today?” Better put, tank monitors put an end to the challenge of relying on questionable K-factor consumption calculations. If you know how much you will deliver to a particular tank, you can achieve the two most important improvements imaginable: increased delivery size and optimal fleet management.
Most fuel marketers still rely heavily on K-Factors to predict, prioritize and route their deliveries. This method of calculating next delivery based upon a mathematical formula has allowed fuel marketers to operate as efficiently as possible. But are K-factors really the most efficient option?
They say history repeats itself and nothing is more true than when it comes to your customers. To maximize profitability, it is imperative that you look at your customer data history, leveraging it to find the ways you can increase your future profits. Weather history, degree-day history, delivery history, price history, equipment installation, and service history -- this data is your most prized possession. Not only is it your customer list and your “official record” of customer behavior – but if utilized correctly, it provides insights into their future behavior...
Your ultimate goal is to manage your deliveries such that you spend the lowest amount of time and money keeping your customers tanks with more than enough fuel to satisfy their needs – without risking too many runouts. Managing those expenses requires focusing on both the fixed costs of your assets – i.e., your delivery trucks and associated expenses (insurance, maintenance, etc.), as well as the variable costs – i.e. driver wages and benefits, fuel for the delivery trucks, wear and tear on vehicles, etc.
Albert Einstein said, “We cannot solve our problems with the same thinking we used when we created them.” Almost 100% of the objections we see relative to our offerings are based on prior behavior that has become part of a company’s DNA. Routines and mindsets become rooted in consistent behavior and thought – people and…
