The Perks of Vendor Managed Inventory19 Oct 2016, Posted by General in
There is a way to take the stress out of keeping your gasoline inventory at the right levels. It’s called vendor managed inventory or “VMI.” With VMI, your gasoline vendor manages your inventory so your retail station won’t run out of gas.
This method uses technology and planning to meet the needs of gas stations and their customers. Retail station operators and convenience store managers should check if the oil company that supplies their gasoline offers vendor managed inventory.
Here are some perks of vendor managed inventory for retail fueling stations.
The Benefits of Vendor Managed Inventory
When customers visit your gas station, they expect to pull up to the pump, gas up, grab some snacks at your convenience store, and go. The last thing you want is for any grade of gasoline to be unavailable because your inventory has run out.
With VMI, you don’t have to worry about running out of gas. A good vendor managed inventory program will forecast the demand for each grade of fuel at your station and determine when each will run out. Based on this forecast, your vendor will work with you to schedule an ideal delivery window to replenish your inventory.
Not only does this help meet the needs of your customers, it also saves your retail station money. That’s because with VMI, you can time deliveries so that all fuel grades are replenished in one visit (instead of costlier multiple deliveries of different fuel grades on different days).
How Vendor Managed Inventory Helps Retail Gas Stations
Making sure you have the right fuel product at the right time is a benefit for your gas station. With reliable communication and sound technology that monitors your inventory levels, there is less need for emergency fuel deliveries and more opportunities to maximize profits at your retail gas station. At the same time, your customer satisfaction levels increase as your customers have the fuel products they need.
When you choose McPherson Oil for vendor managed inventory services, you get the complete package of great products and excellent service. Vendor managed inventory is just one part of what McPherson offers with our Total Petroleum Management program.
Total Petroleum Management means that all of your oil needs are met by McPherson. Budgetary tools, fixed fuel pricing, and multiple purchasing techniques are just a few of the valuable benefits of this program. Contact us to find out how we can revolutionize your retail gas business with vendor managed inventory and other oil supply services.