Much like any other thing done under the sun, bulk purchasing of products no matter what they are comes with its rigors and bulk fuel is no different than any of the other. In this article, I have taken my time to write a few of the most common errors retailers make when purchasing bulk fuel.
Failing to make proper plans
It's tragic that most retailers do not make adequate plans and schedules detailing the amount of fuel they buy and how much fuel is sold each day. Over the months and years, this, in turn, causes them to rush into making scare buys and make mistakes. This can be easily avoided by making a simple schedule or discussing with suppliers to be sure of all available options and work out schedules.
Failing to create good working relationships with suppliers
A good personal relationship with your wholesale supplier is the key to having a proper schedule and also a good way to deliver optimally as a retailer. A relationship that mostly benefits the wholesaler is not the most convenient and will usually lead to the detriment of the retailer.
Inability to research and fact check
In order to perform effectively and efficiently as a retailer, you have to know the market you operate in and what makes people tick. Several retailers are fond of failing in this and end up making errors due to instability in fuel prices and market operations. Research, fact check, discuss, achieve success.
Commitment to your wholesaler
In a business as volatile as this, much like in any other relationship, a steady commitment with your supplier coupled together with a good working relationship will safeguard retailers from the rigors of everyday worry and lock you into the best prices.