A ground-breaking new wet stock management service has today been unveiled to forecourt retailers nationwide. On 1st February 2006, Edensure Ltd, a North East based wet stock analyst company, launched its wet stock management service, ‘ES3’, to the UK petrol retail industry.
Using highly sophisticated analytical techniques, Edensure’s ES3 solution is a UK first. By constantly monitoring tank inventory data, ES3 reconciles wet stock information after all forecourt activity, after each sale and site delivery – an average of 500 times every single day. The service is over 20 times more precise than any of Edensure’s nearest competitors, offering forecourt retailers an unrivalled accuracy in pinpointing the exact source of all wet stock loss.
Edensure has an exclusive partnership with US analysts Warren Rogers Associates (WRA). Inventors of ‘Statistical Inventory Management’ (SIR) over 20 years ago, WRA are recognised worldwide as experts in wet stock analysis. Edensure has spent the past five years working with WRA to develop fuel monitoring technology first used in the US and adapting it for the UK market. The outcome, ES3, has just been awarded official accreditation from the National Weights and Measures Laboratory (NWML).
Managing Director of Edensure, Martin McTague, comments:
“ES3 is a massive step forward for the industry as a whole and provides a real breakthrough in wet stock monitoring. Up until now, daily reconciliation of wet stock data has been widely accepted as the norm, our competitors are using technology which is over 20 years old which is clearly outdated and largely inadequate for today’s competitive market. Our ES3 service reads information approximately every three minutes, so our customers receive precise wet stock data which they can use to make timely business decisions and significant savings.
“Typically, wet stock loss occurs in three main areas; through over-dispensing pumps, during site deliveries and through tank and line leakages. By constantly monitoring the tank inventory and logging data more regularly, ES3 gives an extremely precise picture of exactly where wet stock is lost. This is crucial not only from an environmental point of view, but also for forecourt managers who want to run a successful and profitable business.”
Following in depth market research and the success of eight pilot sites across the country, Edensure’s ES3 service is now being rolled out nationwide. Nick Brocklehurst, Managing Director of Westbridge Motors in Northampton was one of the first forecourts in the UK to invest in Edensure’s wet stock management service. He commented:
“I am a huge advocate of Edensure, I like to call them my ‘wet stock accountant’. Their ES3 solution gives us highly accurate data and tracks what is essentially ‘invisible’ wet stock loss, providing us with statistical information which we can use to practically reduce our physical financial loss.
“The installation was really straightforward and we started to realise the benefits almost immediately. We discovered that we were significantly over metering on five unleaded hoses, so we recalibrated the affected pumps and made instant savings.”
Edensure’s ES3 service is completely remotely managed. Customers receive easy-to-understand monthly analysis reports, which give a comprehensive breakdown of tank and dispenser loss and detailed delivery audits. The service will retail at a monthly cost of £130.00 (plus VAT) and is available from 1st February 2006. Customers can purchase online at www.edensure.com or by calling 0845 226 8332.
ENDS
Notes to Editors
Edensure Ltd
Edensure was founded in 2003 by Managing Director Martin McTague. Formerly known as eGasStation Europe Ltd, Edensure has invested four years in developing fuel monitoring technology first utilised in the US and adapting it for use in the UK market – Edensure ES3.
Edensure has an exclusive partnership with US analysts Warren Rogers Associates (WRA), recognised worldwide in wet stock analysis and original inventors of Statistical Inventory Management (SIR) over 20 years ago. Edensure has official accreditation from the National Weights & Measures Laboratory (NWML).
Edensure ES3
Edensure ES3 is a remotely managed wet stock analysis service. Using the most sophisticated analytical techniques available worldwide, ES3 is the most accurate and advanced wet stock management tool available for UK forecourt retailers. Customers can purchase online at www.edensure.com or by calling the sales team on 0845 226 8332.