Real-time data is the key for fuel wholesalers to secure profit from their loads.
Real-time data is the key for fuel wholesalers to secure profit from their loads.

As a fuel wholesaler, your freight is how you get paid. Yet, in these ever-complex business environments that suppliers work in, a load delivered doesn’t always guarantee full payment. Many complications (from dispatch to driver mistakes) can take a chunk out of your profit. So, what can wholesalers do to ensure their loads equal profit?

In short: get smart with data. Data is the new name of the game for fuel wholesalers – and those businesses that engage with analytics and advanced monitoring tools are the ones most able to turn their freight into real-time profit centers.

The advent of wholesaler data operations

When one thinks of fuel wholesaler operations, they usually hit on the same tired themes: rugged, manual processes and no time for technology. That’s far from the reality of today, however. Big data has allowed companies of all sizes and industries to realize new efficiencies, cost savings and capabilities. Fuel wholesalers are definitely included in that crowd, as companies have been able to take advantage of high-level tools that give them operational visibility and control.

Though some have been slow on the come-up, fuel wholesalers increasingly see the benefits of data and other tools in allowing them to convert their loads into real-time profit centers.

What’s a real-time profit center? While you won’t find the term in Merriam-Webster’s dictionary, fuel wholesalers can understand the concept as monitoring their loads wherever they are in transit. With such a wide breadth of oversight and capability, wholesalers can remotely manage their fleets and freight to ensure their profit is secure.

What tools are needed?

First and foremost, any fuel wholesaler that still relies on manual tracking and data collection, but wants to convert loads to real-time profit, needs to invest in data solutions. There’s simply no substitute for a system that automates data capture, customized report generation, driver tracking and billing. The less margin for error, the more profit can be returned to the business.

One particular feature wholesalers will want to look for in a solution is geo-fencing. Suppliers can create virtual zones (marked by geo-fences) that alert managers whenever a driver enters an area not on their scheduled route. Such a deviation could simply mean they took a wrong turn, or point to something more nefarious. In either case, geo-fencing and related real-time data insights are invaluable assets to fuel wholesalers.

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