MECHANICSVILLE, Va. -- GPM Investments LLC, which does business under the Fas Mart and Shore Stop convenience store brands, has selected KSS's PriceNet, a fuel price management and optimization system, for companywide implementation.
The company has chosen PriceNet to streamline its fuel pricing process for its more than 200 c-stores in the Mid-Atlantic and Northeast. With the help of PriceNet, Fas Mart will be able to review up-to-the-minute information relevant to the performance of each fuel grade at every location on an exception basis. Automated alerts and exceptions will enable the [image-nocss] pricing team to take immediate action by focusing their attention on the suggested pricing opportunities.
PriceNet is an end-to-end pricing solution supporting the key tasks and stakeholders involved in retail fuels pricing, from capturing field-based intelligence at the site level to the generation of price proposals via comprehensive pricing rules or price optimization to consistent and timely implementation. High levels of automation and an exception-based approach help ensure a rapid response to competitors and market conditions and allow pricing analysts to leverage the power of pricing analytics and automation.
"GPM's desire to challenge one of its core business processes typifies a growing trend among convenience chains to leave no stone unturned in the relentless search for greater efficiencies, more focused customer service, and bottom-line performance improvement," said Bob Stein, KSS CEO and president.Don Bassell, CFO, said, “Our customers have come to know us for our commitment and passion for excellence and it was our desire to extend this to our fuels pricing that eventually steered us to the KSS PriceNet solution. We are excited to begin the roll-out and look forward to seeing the benefits of PriceNet within a relatively short timeframe."GPM Investments began operations in March 2003 with the purchase of the assets of Fas Mart Convenience Stores Inc. The company has successfully grown the chain during the past four years to include more than 200 company-operated sites and an additional 135 dealer locations. The company has more than 1,800 employees with annual revenue in excess of $1 billion projected for fiscal 2008.
Florham Park, N.J.-based KSS is a global provider of pricing analytics, price management, rules-based pricing and optimization technology and services to fuel retailers and wholesalers in the oil and gas, c-store, grocery and big-box retail industries. KSS clients include global, national and regional companies managing a total of more than $140 billion in revenue through more than 20,000 fuel sites and rack terminals throughout the world, it said.
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