In the past managing wetstock may have been considered a fairly easy and simple process. Managers could compare the changes that have occurred in their fuel levels over the last week or so and then reconcile those levels based on the deliveries that have occurred in that week and the sales over the same timeframe. You could then figure out just what your margins were for the week, but this was not always accurate and did not leave you a way to really reconcile anything if the results were not what you thought they would be. Much has changed since then and systems have become much more sophisticated to allow for better and clearer understanding of your results.
New Technology and Systems
There are plenty of new systems and technological advances that have occurred that allow for effective and proper wetstock management today. You can find management systems and suites that will work well with whatever systems you may currently be using that can help you to cull the information you need so you get all of the important data necessary. The systems can collect data from all of your pumps, even if you manage several locations, and supply you with levels so you can see any trends that have developed and get all the numbers you need. You can then get all of the reports you need from the system so that you can analyse the numbers on a daily, weekly, monthly and yearly basis and make proper comparisons so you can make any adjustments or changes in deliveries if needed.
Catch Problems Before they worsen
The best thing about having a system like this is that it enables you to detect any problems that may exist before they can get out of hand. The right system in place will allow you to see if there have been any fuel losses occurring so you can determine just where they are coming from. You will be able to detect if there are problems with leaks or if your deliveries have been short. You can even get help with proper calibration and get accurate and current levels at any time so you always know what is going on and if a problem exists.
Having the right wetstock management system in place can make things much easier for you, particularly if you need to maintain more than one service station all of the time. Having the ability to access the important information whenever you need it so that you can determine if there are any problems can help you to catch issues before they have the chance to get worse. This can serve to save you a great deal of money in your fuel expenses.