Forecasting Your Way to Higher Profits
By Carolina Ruiz • Published December 5, 2019 • 3 minute read
Time is money.
As your petroleum distribution business grows, properly implementing scalable processes that will enable your entire workforce to operate faster and more efficiently is critical.
By tracking financial trends against current business processes, companies can take full advantage of tank data intelligence so they can better plan and forecast their business, positioning it for accelerated and positive growth.
Consider every aspect of your distribution business, from order intake, dispatch, driver safety and vehicle maintenance, reconciliation, and inventory and billing.
By implementing an operational logistics platform such as SkyBitz SMARTLynx, these processes become streamlined so that each department can tap into valuable data for more efficient planning and projecting of daily and monthly activity.
Also Read: 3 Proven Ways To Grow Your Business With A Petroleum Logistics Platform
If your organization is still calling in orders or mailing paper invoices, your employee’s valuable time is wasted on these manual processes when they could focus on more revenue-generating tasks.
With the help of experienced implementation support teams, new practices such as digital invoicing and automating tank orders using monitoring and forecasting data will become the focus of your workforce.
The time that was once focused on manual paperwork or inconsistent processes will now be replaced with simple, built-in workflows focused on using data to improve the entire operation, including areas such as route planning, inventory control, and reconciliation and billing.
Automating your operation and connecting other software systems such as SAP, JD Edwards, PDI, and more can provide you with the insight you need to increase productivity amongst your finance team as well as various other business units. Plus, digitally capturing accurate data helps eliminate customer discrepancies and speeds up the invoicing process substantially.
Margins are tightening in the petroleum distribution industry and the challenge that many organizations are faced with is margin retention. By implementing a smart operational petroleum logistics platform, companies can harness the tools needed to better manage margins which will ultimately lead to improved profitability.
Organizations can also offer a transparent customer experience while increasing departmental productivity through the automation of work flows created with the use of these tools.
Once your operation is running more efficiently, scaling for growth while securing new clients and gaining market share now becomes a more obtainable focus.