What is Wetstock Management and Why Should You Care?

Reading Time : 2min read
Fuel flowing.

To care about wetstock management is to care about saving—and making—money. If you buy or sell fuel, wetstock management is required to ensure that you receive and dispense the amount of fuel you paid for. Good wetstock management helps companies keep track of their fuel inventory so they can detect fuel losses when they occur and use their resources efficiently.  

Every fuel retailer has a process to manage fuel inventory, as fuel is by far the largest expense an operator incurs. As with other commonly used industry terms such as inventory management or inventory reconciliation, wetstock management is a global term that attempts to address all potential sources of variance including tanks charts, meters, deliveries, temperature, theft, and leaks. Technology can help.  

Many convenience store operators have a wetstock management process in place, but it comes in the form of massive spreadsheets and error-prone manual entries. Since most local regulators require accurate and timely fuel reports, automating your wetstock management process is vital for day-to-day forecourt operations. Without an accurate and dependable process using scalable technology, owners and operators are exposing themselves to enormous risk.  

Replacing manual wetstock management processes with an intelligent software solution (such as Titan Cloud’s Frictionless Fueling) gives c-store operators greater visibility into their fuel movements, so they can account for every drop of fuel purchased. Fuel management software minimizes inefficiencies caused by slow fuel dispensing, over dispensing, and shortages for a better customer experience and greater profits. After implementing Frictionless Fueling, one Titan customer found that they reduced inventory variance significantly, reduced acceptable delivery variances by 60%, and increased fuel sales by 3% per site. Focusing on wetstock management is a critical part of any convenience store’s path to greater profitability, so get started on improving your system right away.  

If you’re ready to improve your wetstock management, get in touch with our team.

Brent Puzak

VP of Solutions Consulting

Brent brings 25 years' industry experience to Titan Cloud as the Vice President of Solutions Consulting. He led environmental shared services for a global retail chain with over 9,000 locations, moving through numerous leadership positions. Brent's diverse background and knowledge allows him to take a strategic approach to addressing complex industry challenges.

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Man and woman addressing fuel supply chain operations.