End-to-end wholesale pricing solution is expected to improve supply chain management and provide a consistent pricing process for Sinclair Oil Corp.
Sinclair Oil Corp., an oil refiner and fuel wholesaler supplying more than 2,000 Sinclair branded gas stations in 22 western and mid-continent states, has selected RackPrice from KSS Fuels for its fuel price management solution.
RackPrice is an end-to-end wholesale pricing solution, including modules for price generation automation, reporting/analysis, competitive price prediction, price-volume modeling and price optimization.
The Salt Lake City, Utah-based company plans to use RackPrice for pricing and performance analytics, price setting and price execution. RackPrice supports the wholesale and commercial/industrial pricing processes by helping fuels marketers set the best possible price for every channel, segment, rack and customer.
“As part of our overall strategic initiative to improve supply chain management, Sinclair has chosen to implement the KSS Fuels RackPrice terminal pricing solution,” said Jack Barger, vice president of marketing and supply for Sinclair Oil Corp. “We expect KSS Fuels RackPrice to improve our workflow processes, consolidate and automate multiple aspects of those processes, help us meet our customers’ pricing expectations more consistently, consolidate information and improve our analytics capability. We foresee a timely return on this investment through more efficiency, better ratability and higher customer satisfaction.”
KSS Fuels developed RackPrice based on the knowledge and experience of a range of pricing processes in different countries, and designed it to be configured, without customization, to suit the specifics of a given local country or market. RackPrice combines sophisticated analytics and demand modeling with a highly configurable rules-engine. RackPrice automatically generates price recommendations based on up-to-the-minute data and then prioritizes them according to the customer’s specific business rules.
“We are pleased to partner with Sinclair Oil Corp. and are confident that with RackPrice the company will have a more controlled, responsible and consistent pricing process, bringing all required data into one system,” said Bob Stein, president and CEO of KSS Fuels. “RackPrice should enable Sinclair to improve rack margins by optimizing prices across channels. They will also be able to predict competitor rack prices and automatically adjust their own prices as needed.”