by Kelsey Bliss
In the c-store space, Kelsey has uncovered key findings through extensive research to offer insights to elevate the operations to bring c-stores to optimal excellence. Data is the catalyst for improved changes. Join her as she takes you through a checklist for harnessing the power of data.
In the fast-paced world of convenience stores, efficient operations are the cornerstone of success. A study by McKinsey found that companies proficient in data analytics are 23% more likely to achieve above-average profitability. With the power of data at your fingertips, you can shape a store that not only meets current demands but anticipates future challenges. From equipment and maintenance to vendor management, data is the key. The challenge lies in transforming this wealth of data into actionable insights that drive efficiency. Let’s go through the checklist of areas to ensure you are harnessing the power of your data.
- Managing Technicians
Work order history and timekeeping may show you that internal technician teams may need to be running more efficiently. In our analysis, fundamental factors can affect efficiency, such as:
- Windshield time: Are technicians taking the shortest route? Are we dispatching the right technician? Can we bundle several trips together to optimize routes?
- Technical Skills/Training: Can technicians handle the work orders they receive? Are there many reassignments?
- Downtime: Do technicians have additional work when repair volume is low in their area?
- Parts/Tools: Do technicians have the right tools to address repair issues? How are you managing inventory to optimize performance?
In working with clients, we found that by increasing technician productivity by 3%, an average C-store company could save at least $1M annually. Consider how you can use data to improve technician management. This ensures accountability, timely service delivery, and a seamless operational experience for your convenience store while not overspending and having potential internal technicians cutting corners, leading to unnecessary spending.
Is your data helping your technician team to be at its optimal efficiency?
- Utilizing Artificial Intelligence (AI)
AI can be utilized to streamline and create optimal efficiency in many areas. For example, AI can help train and onboard new technicians so they are out in the field faster and can address issues more swiftly. Also, integrating the Internet of Things (IoT) can optimize efficiency to the next level through sensors and devices that are all connected and share data. AI can generate higher results through its trained models.
Have you considered how AI can optimize your efficiency?
- Informed Decision-Making: Repair Vs Replace
The vast amount of data generated daily holds the key to understanding your store's needs to repair or replace equipment and ultimately reduce spending. For example, working with a C-store client, we found they could save 17% during the initial year on HVAC repairs by making effective replacement decisions. They had the raw data, but they needed help with the ability to analyze it and prioritize stores.
Are you able to make decisions about repair vs. replacement?
- Simplified Vendor Management with Integrated Data Solutions
Coordinating various service providers can be a logistical nightmare, and 70% of service providers (inadvertently or otherwise) overbill without proper oversight. It is imperative to hold vendors accountable to contracts and rates and manage ways service providers can overbill, such as through time on site, part costs, and fees. Additionally, paperwork must be handled efficiently.
Is your data bringing vendor management to its optimal efficiency?
- Easily Accessible Data
We have found that the average company doesn’t use ~65% of its data for analytics. This could result from multiple reasons, such as data being difficult to access, users not having the adequate tools to visualize data, or users being overwhelmed with the amount of data to view. As an example, data dashboards can either effectively display or confuse results. While more companies invest in technology, users may still not have the ease of using data to run their teams and programs effectively.
Is your data easily accessible?
As a leading facilities solutions company, Vixxo specializes in turning data into a strategic asset for your convenience store locations. Ready to check all the boxes and harness the full potential of data for your convenience store? Connect with us to explore how our tailored data management solutions can be the key to unlocking operational efficiency and propelling your business toward greater sustained success.
Let's connect and you can learn how to get access to our Facilities Assessment!
