"Receiving a [image-nocss] patent for our RackPrice intelligence and processes demonstrates the uniqueness and foresight that our software brings to fuel wholesalers and to the fuel industry overall," said Bob Stein, president and CEO of KSS. "Like our PriceNet system for fuel retailers, RackPrice was built from the ground up using...advanced scientific and mathematic formulas at the core of the application. That system was then applied to the fuel pricing process to give wholesalers, jobbers and marketers the automated tools and information needed to efficiently and accurately set competitive wholesale fuel prices."
RackPrice is an end-to-end wholesale pricing solution that helps wholesalers meet volume targets at the maximum possible margin by improving its pricing processes and responding more rapidly and effectively to market moves. The system includes modules for price generation automation, reporting/analysis, competitive price prediction, price-volume modeling and price optimization.
RackPrice 2.0 was released in February 2009 with new enhancements that focus on increased user-friendliness, pricing efficiency and functionality. The new features help fuel wholesalers continuously review their competitive landscape and make quick and optimal pricing decisions to improve gross profits.
PriceNet is KSS' pricing solution that supports 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 ensure a rapid response to competitors and market conditions, thus allowing pricing analysts to leverage the power of pricing analytics.
KSS is the global leading provider of pricing analytics, price management, rules-based pricing and optimization technology and services to fuel retailers and wholesalers in the oil and gas, convenience store, grocery and big-box retail industries. KSS clients include global, national and regional companies managing more than $180 billion in revenue through 25,000-plus fuel sites and rack terminals throughout the world. KSS' U.S. headquarters are located in Florham Park, N.J. and European headquarters are based in Manchester, U.K.
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