KSS Fuels Participates as Key Thought Leaders at Prestigious Operational Research Conference
Florham Park, NJ - July 6, 2010
Price optimization and statistical modeling experts from KSS Fuels, the pricing experts, will deliver a presentation at the 24th European Conference on Operational Research, EURO XXIV, to be held at the Faculty of Sciences of the University of Lisbon (FCUL) in Lisbon, Portugal, July 11 – 14, 2010. Pricing scientists, Barbara Jenkins, Tom Liptrot and David McCaffrey will deliver their paper: “Optimization of forecourt fuel pricing” to the Revenue Management stream segment of the conference. EURO XXIV is a leading European conference dedicated to operational research and management science. Academicians, researchers and practitioners, as well as students interested in any branch of operational research, mathematical modeling or economic analysis typically participate in the conference and present their papers.
“At KSS Fuels we not only feel our business intelligence and price optimization tools set us apart from the industry, but we also continuously update our software based on the latest statistical models available,” said Bob Stein, president and CEO of KSS Fuels. “We are honored to be included among the presenters at these prestigious conferences, a reflection of our commitment to having the most scientifically based price optimization software, and a leading edge in the market.”
The paper from KSS Fuels will illustrate how price optimization can be applied to automotive fuel sales on the forecourt. The paper will review the current pricing problem and explore technical approaches to demand modeling and price optimization. It will also analyze results from a price optimization software test at a U.S. fuel retailer. The presentation will show how, during the test, they achieved increased gross profitability by 0.6 U.S. cents per gallon, without significant volume loss. The presentation concludes by illustrating how expanding this methodology to the enterprise level allows for a price-volume tradeoff between retail sites – which can be performed at a supervisory level above the site-level optimization.
ABOUT KALIBRATE TECHNOLOGIES
Kalibrate (formerly KSS Fuels) is the only global provider of fuels pricing and retail location intelligence, helping retailers fine-tune decisions to deliver on performance goals. Its proven software, analytics and consulting solutions draw on more than 20 years of expertise and insight into the needs and opportunities of petroleum retailers. Kalibrate has headquarters in Manchester, United Kingdom and Florham Park, New Jersey. The company also has a Center of Excellence in Tulsa, Oklahoma and sales operations in Florida, Illinois, Ohio, Texas, Canada, Brazil, China, India, Japan, Korea and Africa. For more information about Kalibrate, please visit Kalibrate.com.