ANDERSON, Ind. -- Ricker Oil Co. Inc. has selected KSS Ltd.'s KSS PriceNet, a software tool that helps manage, model and forecast the impact of fuel pump prices.
This fuel pricing automation and optimization tool will help Ricker Oil effectively manage fuel prices and meet volume and profit goals by site. The retailer will also use KSS PriceNet Web to capture and retrieve competitor and internal pricing data.
KSS PriceNet provides us the ability to automate the fuel pricing process as well as model and optimize our pricing, by [image-nocss] site, by competitor and by grade of fuel, said Dennis Williamson, general manager of Ricker Oil. We have been able to progress towards our volume targets while maintaining our competitive positioning in the market. In addition, the use of the KSS PriceNet Web module for the store interface has made integration simple, and ensures that we are able to react quickly to market changes. By having our stores input data one time, through the web interface, we are now able to focus more on analysis and less on data maintenance.
KSS PriceNet is an intelligent fuel price management system with the ability to accurately track volume and margin performance, monitor competitive position, streamline pricing processes and apply sophisticated pricing rules to ensure prices are accurately and consistently calculated in accordance with the chosen strategy. Using the KSS Library of consumer-demand models, KSS PriceNet also provides the basis for understanding consumer fuel demand across the store and fuel center to deliver optimized prices by grade of fuel, by site.
Ricker Oil, Anderson, Ind., operates 31 convenience store and petroleum-marketing retail locations in eastern Indiana, as well as a petroleum distributorship and other enterprises.
Florham Park, N.J.-based KSS is the leading supplier of comprehensive pricing intelligence, optimization and execution solutions to the convenience retail, grocery, chain drug and petroleum industries.Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.