A Jones for FuelQuest Will deploy Fuel Management System to streamline operations
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STOCKTON, Kansas -- Fuel supplier John E. Jones Oil Co. has signed an a five-year agreement with FuelQuest Inc., a leading on-demand software and services company for the global downstream energy industry, for the use of the technology firm's Fuel Management System (FMS). Jones Oil will deploy FMS to improve fleet utilization, reduce retains and runouts and increase visibility into tank inventory and usage trends.
"Transparency into our tank inventory is one reason we selected FuelQuest," said Patrick Lingg, controller of Jones Oil, Stockton, Kansas. "Another is that the solution is flexible so that we can deploy one or more sites at a time based on our time frame. We look forward to the savings and operational efficiencies driven by FuelQuest's FMS."
Jones Oil will leverage key capabilities within FMS that will eliminate many manual processes and streamline operations to reduce costs and protect fuel margins. These include more effective inventory management and demand forecasting to optimize working capital; increased ability to plan and respond; and flexible implementation—initial implementation to Jones' retail facilities with subsequent rollout to participating customers.
FMS is an 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, Houston-based FuelQuest said.
Matt Tormollen, president and CEO of FuelQuest, said, "We will collaborate on next-generation solutions that will make it easier for fuel distributors to create value and preferential awareness with their customers and prospects, while leveraging the strength of the FMS platform and North America's largest fuel management network."
Family-run Jones Oil supplies fuel to customers throughout Kansas and southern Nebraska. Customers range from individuals with a single storage tank to multi-branded convenience store chains. It provides all grades of gasoline as well as premium grades of diesel for commercial and industrial markets. It offers off-road diesel for all non-taxable use with a full range of additive packages tailored to a specific need. And it offers Conoco, Phillips 66 and Sinclair fuel products. It also offers store design, merchandising assistance, vendor selection and credit-card programs.
FuelQuest provides on-demand, web-based supply chain management and tax automation technologies for suppliers, distributors, buyers and traders of petroleum products and other energy commodities. Its solutions help customers manage the complexity, regulation, and market volatility of billions of gallons of gasoline and diesel fuel annually. Zytax solutions process tens of billions of dollars of motor fuels excise taxes per year.
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Jones Oil will leverage key capabilities within FMS that will eliminate many manual processes and streamline operations to reduce costs and protect fuel margins. These include more effective inventory management and demand forecasting to optimize working capital; increased ability to plan and respond; and flexible implementation—initial implementation to Jones' retail facilities with subsequent rollout to participating customers.