- 22 Sep
Employee Error Leads to $1 Fuel Price Mistake
Employee error led a c-store to sell Premium fuel at $2.65, which was $1 less than the correct price. The lost profits were caused by an employee entering the wrong price into the RaceWay fuel price management system. According to the News & Messenger, and insidenova.com, the Manassas Virginia Raceway station was unable to quantify exactly how much money RaceWay lost during the time of the incorrect price. But nearby competitors had the Premium fuel price at $3.68 and $3.71, more than $1 higher.
In the RaceWay fuel pricing process, corporate officials determine prices for the day and communicate those prices to the store managers. The store managers then manually enter the prices for each grade into the store computer. As an alternative to the RaceWay system, the PriceAdvantage Fuel Price Management solution provides a way to automatically set store prices based on what fuel analysts at the headquarters office determine is the optimized fuel prices for the day. By removing the store managers from the fuel pricing process, PriceAdvantage removes the chance for the kind of human error experienced by the RaceWay store.
The original news story may be found here.