"FuelQuest has been an important solution provider for 7-Eleven for several years," said Doug Rosencrans, VP, gasoline operations at 7-Eleven. "The company has generated significant value in our fuel operations and has a track record of innovation..."
Houston, TX (PRWEB) September 27, 2011
FuelQuest, Inc., the leading on-demand software and services company for the global downstream energy industry, today announced a new five-year agreement with current customer 7-Eleven, Inc. Under this agreement, 7-Eleven will continue to use FuelQuest Fuel Management System (FMS) to automate fuel procurement and delivery as well as deploy ForeSite™ SV to monitor fuel replenishment execution for more than 2,500 carrier-supported sites. 7-Eleven, the world’s largest convenience retailer, is an early adopter of FuelQuest solutions, including FMS, Zytax Compliance, Alarm Management Services (AMS) and now ForeSite SV, which was released in July of this year.
"FuelQuest has been an important solution provider for 7-Eleven for several years," said Doug Rosencrans, vice president, gasoline operations at 7-Eleven. "The company has generated significant value in our fuel operations and has a track record of innovation within the industry. We consider FuelQuest a strategic partner and critical to the continued growth of our business. This is why we are continuing our relationship with them as well as expanding our use of their products and services with ForeSite SV."
FuelQuest powers the largest bulk fuel management network in North America providing its customers with a solution that lowers the cost of procuring, managing, and accounting for fuel. FMS will continue to streamline 7-Eleven’s fuel operations enabling:
- Fewer run-outs and retains through frequent, automated polling and just-in-time inventory replenishment,
- Lower working capital requirements via optimized fuel inventory levels, and
- Reduced overall fuel costs through automated inventory and financial management.
ForeSite SV (Supervisor View) gives fuel buyers real-time visibility into the accuracy and effectiveness of replenishment plan execution. Once set in motion, fueling plans can miss their mark due to changing conditions on the ground, such as bad weather, shifting consumer demand, or poor traffic conditions. ForeSite SV warns when plans – whether retailer or vendor managed – will not meet business requirements, allowing fuel managers to take the necessary steps to avoid supply disruptions and improve their operational efficacy. View demo of ForeSite SV.
"We are pleased to continue our long-standing relationship with 7-Eleven and increase our solution value through their adoption of ForeSite SV," says Matt Tormollen, president and CEO of FuelQuest. "7-Eleven is a global, innovative company who has achieved real bottom-line savings by using fuel management automation.”
ABOUT 7-ELEVEN, INC.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises, or licenses more than 8,800 7-Eleven® stores in North America. Globally, there are approximately 43,300 7-Eleven stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales close to $63 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine’s 2011 list of Top Franchises for the Money; #4 spot on Entrepreneur magazine’s Franchise 500 list for 2009 and #3 in Forbes magazine’s Top 20 Franchises to Start. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year from PL (Private Label) Buyer because of the company’s private-label brand initiative. The company is franchising its stores in the U.S., and is expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at http://www.7-Eleven.com.
FuelQuest provides on-demand fuel management, tax automation, and compliance solutions for suppliers, distributors, buyers, and traders of petroleum products and other energy commodities. FuelQuest's solutions deliver operational and financial value to over 750 customers. These customers include leading global oil companies, international retailers, shippers and government entities. FuelQuest's fuel management solutions help customers manage the complexity, regulation and market volatility for more than 18 billion gallons of gasoline and diesel fuel annually. Its Zytax solutions ensure compliance and accuracy for tens of billions of dollars of energy-related excise taxes per year. Learn more at http://www.fuelquest.com.
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