For marketers and distributors of fuel, lubricants, or propane, the main reason to adopt a tank monitoring strategy is profit, said SkyBitz.
It added: “Learn the key reasons to justify adding tank monitoring solutions to your operation.”
Below is a list of these key reasons:
- Upholding your reputation and creating more loyal customers
- Realising profitability through more efficient deliveries
- Reducing wasted fuel and labour costs by being more strategic with your fleet
- Saving time and costs associated with physical inventory assessments
- Improving operational efficiency with integrations into back-office systems for performance tracking
There is no set standard for how tank monitoring is billed in the industry. Some marketers eat the cost as an efficiency expense and some charge all or some of the cost to their customers.
For marketers, the ROI comes from several areas, including reducing expensive milk run scenarios, decommissioning expensive trucks, and reducing the number of drivers. Marketers need to educate distributors on the value of data, proving there is as much value in it for their customers as themselves.
Smart distributors that monitor usage data can project optimal fill levels and work with their marketers to improve purchase and delivery processes. Accessing the marketer’s monitoring platform can provide distributors with greater insight into their tank levels, boosting confidence in the partnership and providing a value-added service. Distributors can also take advantage of economies of scale, use them to their advantage, and leverage fluctuations in the oil market to pinpoint the absolute best time to buy.
SkyBitz added: “The transition to digital monitoring is happening, and it’s happening at a swift pace. The entire supply chain benefits from tank monitoring data used across each distribution point, from bulk tanks to downstream deliveries. Leaders in their market that recognise this will use it to their advantage and be part of the 8.6 million operating more efficiently by 2022.”
For more information visit www.skybitz.com