Cumberland Gulf Group of Companies Selects FuelQuest’s Fuel Management Solution
HOUSTON-(Business Wire)-September 28, 2009 - FuelQuest, Inc, the leading on-demand software and services company for the global downstream energy industry, announced today a four-year agreement with Cumberland Farms, Inc. and its affiliate Gulf Oil LP for the use of their Fuel Management System (FMS). The organization will deploy FMS to optimize fuel inventory, decrease operational expenses like unplanned split loads, and reduce the costs related to scheduling and managing their fleets.
“We require a solution to centralize our fleet scheduling for inventory managed stores and dealers as part of our overall fuel strategy” said Greg Scott, vice president of petroleum distribution and rack origination. “FMS allows our dealers to place orders online and automates replenishment planning for both low volume and high volume inventory managed sites, increasing dispatcher efficiency while reducing our unplanned splits.”
David Banks, Cumberland Gulf Group's chief information officer, continued, “With an ever-increasing internal demand for IT support and development resources, our ability to leverage and extend FuelQuest’s FMS platform, best practices and experienced team makes good business sense; we are impressed with FuelQuest’s focus on continuous improvement for their solution and look forward to taking advantage of these enhancements for years to come."
Cumberland Gulf Group will leverage key capabilities within FMS to centrally manage disparate sites across the East Coast and streamline operations to reduce costs and protect fuel margins.
With FMS in place, Cumberland Gulf Group will be able to:
- Maintain accurate inventory management and demand forecasting to optimize working capital
- Optimize fuel holding strategy; maintaining low secondary products supply
- Decrease number of unplanned split loads, retains and run-outs
- Minimize the cost of procuring and managing fuel prior to sale.
FuelQuest's Fuel Management System (FMS) is the most comprehensive, end-to-end supply chain solution focused on reducing the cost of procuring, managing and accounting for bulk fuel. FMS powers the largest fuel management network in North America with more than 15 billion gallons managed annually.
“Cumberland Gulf Group has a stated commitment to drive supply chain efficiencies and we are very pleased to be their partner to help execute this strategy,” said Matt Tormollen, president and CEO, FuelQuest Inc. “By combining Cumberland’s expertise with FuelQuest’s industry-leading fuel management solution and best practices, we can optimize working capital and consistently drive down costs within the distribution network.”
About Cumberland Farms
Cumberland Farms, Inc. is committed to providing its customers with value, convenience and unparalleled service. Its network of retail stores, gas stations, and a support system including petroleum and grocery distribution operations spans 11 states across the Northeast and Florida, making it the largest convenience store and petroleum marketer in the Northeast.
About Gulf Oil
Gulf Oil LP is one of the Northeast's largest wholesalers of refined petroleum products. Gulf distributes motor fuels through a network of more than 1,800 Gulf branded gasoline retail centers, 12 proprietary oil terminals and a network of more than 50 other supply terminals. It supplies heating oil, diesel fuel, jet fuel and kerosene to these branded retail outlets through both its Gulf brand and, in the seven states of New England and New York, the Exxon brand. Through its unbranded subsidiary, Great Island Energy, Gulf Oil also supplies petroleum products as well as risk management and financial services to industrial, commercial and independent retail firms.
About FuelQuest
FuelQuest, Inc. provides on-demand, web-based fuel supply chain management and tax automation software and services for fuel suppliers, distributors and buyers in global downstream energy. FuelQuest’s Fuel Management System (FMS) automates all aspects of the fuel management process from procurement, inventory management, demand forecasting, strategic sourcing and financial reconciliation to margin analysis and environmental compliance monitoring. The FMS solution powers the largest fuel management network in North America with more than 15 billion gallons managed annually. Zytax supplies strategic software automation solutions for indirect tax determination and excise motor fuels compliance for the energy industry. Zytax processes billions of dollars of motor fuel excise taxes per year. Find out more online at www.fuelquest.com.
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