Ricker Oil Company Inc. Selects KSS for Fuel Price Management And Optimization

Florham Park, NJ - Ricker Oil Company Inc., an owner and operator of convenience and food service stores throughout eastern Indiana, announced its selection of KSS PriceNet, a software tool that helps manage, model and forecast the impact of fuel pump prices.

This fuel pricing automation and optimization tool will help Ricker Oil effectively manage fuel prices and meet volume and profit goals by site. The convenience store retailer will also use KSS PriceNet Web to capture and retrieve competitor and internal pricing data.

"KSS PriceNet provides us the ability to automate the fuel pricing process as well as model and optimize our pricing, by site, by competitor and by grade of fuel," said Dennis Williamson, general manager of Ricker Oil. "We have been able to progress towards our volume targets while maintaining our competitive positioning in the market. In addition, the use of the KSS PriceNet Web module for the store interface has made integration simple, and ensures that we are able to react quickly to market changes. By having our stores input data one time, through the web interface, we are now able to focus more on analysis and less on data maintenance."

"We are delighted to have Ricker Oil as a customer," said Bob Stein, head of KSS worldwide fuels business. "The KSS PriceNet solution brings tremendous value to fuel retailers of all sizes and will provide Ricker Oil with the ability to react quickly and profitably to changing market conditions."

KSS PriceNet is an intelligent fuel price management system with the ability to accurately track volume and margin performance, monitor competitive position, streamline pricing processes and apply sophisticated pricing rules to ensure prices are accurately and consistently calculated in accordance with the chosen strategy. Using the KSS Library of consumer-demand models, KSS PriceNet also provides the basis for understanding consumer fuel demand across the store and fuel center to deliver optimized prices by grade of fuel, by site.

Ricker Oil Co., based in Middletown, Ind., operates 31 convenience store and petroleum-marketing retail locations in Indiana, as well as a petroleum distributorship and other enterprises. Ricker Oil Company was founded in 1979 by Jay and Nancy Ricker, and participates in a number of community-based programs including Habitat For Humanity.

KSS is the leading supplier of comprehensive pricing intelligence, optimization and execution solutions to the convenience retail, grocery, chain drug and petroleum industries, helping retailers manage in excess of $50 billion in annual revenue from more than 15,000 outlets. Retailers use KSS solutions to add discipline to the pricing process, help make better-informed pricing and promotional decisions and implement decisions more efficiently, driving more profit to the bottom-line. KSS software is available as an on-site, fully integrated system configured by experienced consultants from U.S. headquarters in Florham Park, N.J., and European headquarters in Manchester, United Kingdom.

SOURCE: The TransSynergy Group