Tanks without monitors can be challenging to forecast, especially if they’re slow moving or have variable usage. Tank forecasting can improve delivery efficiency by 30% by increasing drop sizes and ordering at levels to fill your truck.
BizSpeed can forecast ALL tanks: monitored, non-monitored and call-in.
In the graphic above, you see a typical keep-full tank with the red line showing the order quantity and the blue showing the delivered quantity. The tank is non-monitored and averaged a 30% delivery variance from the ordered amount. Smarter and more accurate forecasting closes the variance and helps make better decisions on when to create the replenishment order.
Smarter forecasting increases drop size, reduces miles driven and increases the delivery truck’s utilized capacity. The statistics shown are a sample from before and after with forecasting.
BizSpeed’s goRoam mobile app captures a significant amount of delivery data. All tanks are barcoded, and drivers can optionally stick tanks to get before and after tank readings. The goRoam mobile app helps you to quickly build an accurate tank database by adding tanks at the time of delivery and continuously confirming attributes such as capacity and if the tank was delivered full.
BizSpeed provides several reports to help with operations such as ordered-vs-delivered variance by product, customer, tank, etc. We’ve have had multiple customer requests to forecast non-monitored tanks. Our new proprietary forecasting uses multiple methods to forecast ALL tanks.
We’re using machine learning to forecast tanks based on a combination of:
- Delivery history
- Stick readings
- Related tanks with monitors
- Related products
Tank forecasting with machine learning provides a significantly better prediction of usage trends. This optimizes the delivery frequency and volume, increasing the profit on tanks with recurring deliveries. This also allows for the delivery of more orders with the existing fleet.
BizSpeed offers forecasting as a subscription service. For existing customers, we have a significant amount of delivery history and can conduct a data study to help you understand which tanks should have monitors and which ones can be forecast by order history (without a monitor). If you have a large quantity of non-metered tanks, contact us so we can show you how smarter forecasting can help you make better decisions.
By activating our Data Analytics for tanks, you can quickly see a tank’s delivery history as well as key metrics, including:
- Avg delivery qty last 12 months
- Avg delivery qty last 40 days
- Min/Max delivery qty last 12 months and 40 days
- Standard deviation in delivery quantity (variance) in the last 12 months
The screenshot below shows an example of this, along with the ordered vs. delivered graph.
How do you use this data?
Our forecasting engine and tank portal allow you to find tanks by-product, ID, market, nearest tanks, etc. to see the current level, days to empty, percent full, and other key data. You select specific tanks and export their data to create orders. Use the portal to generate orders based on must-go, should-go and could-go. To help fill up a truck, you can use the portal to find nearby tanks with the same product so you use 100% of your truck capacity.
We want to talk to you! Let’s discuss how forecasting can improve your bottom line. Call to schedule a time to evaluate your tank deliveries. We’ll gladly show you the future of tank forecasting. It could save you more than you think!