Managing a gas station can be a cumbersome task, in the absence of any 'performance tracking mechanism'. So, one of such device that can be incorporated to manage its functioning is a BSC (Balanced Scorecard). Owing to its inherent flexibility, accurate KPIs placed on a BSC can substantially improve the functioning of a gas station.Financial motives of the organization can be kept an eye on by relying on the useful parameters, some of which can be 'Annual Earnings', 'Average daily business volume', '% rise in profit' and 'positive deviation from nation's average price'. Internal operations can be measured using the metrics such as 'average waiting time', 'time taken for re-filling', 'number of vehicles it caters to, on daily basis' and 'number of pumps installed'. Efficiency perspective can be had with 'refusal index', 'fraction of fuel that is premium', '% dip in customers who leave the station without receiving the service' and '% rise in number of vehicles that come for re-filling'. Growth perspective can be quantified using the KPIs like 'increase in number of cars', '% rise in consumption of fuel', 'number of brands that are offered' and 'increase in number of additional services offered'.
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
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Gas stations enable vehicle owners re-fill their automobiles with fuels. Operating gas filler can be a challenging task in case no 'performance tracking instrument' is available at hand.
One can depend on balanced Scorecard to effectively keep a check on the way things go on at a filling station. One needs to get the resources ready and well in time so as not to lose customers.
Another reason for such a quantitative assistance is that a number of additional services are also offered at these service stations. Taking care that everything goes well in every possible direction demands a performance monitoring strategy, which can be BSC in this case.
Operations of fuelling stations ask for being ready to provide services on real-time basis. Therefore, one cannot afford to be 'laid back' in approach and what is required is an apt tool to calculate the progress and growth moves. By relying on numbers and values, one can effectively perform this job of assessing the workings at petrol pump. The strength of this route is its 'measurable approach' for tackling issues. This makes it stand apart in the crowd of similar strategies available.
This is the actual scorecard with Gas Station Measures and performance indicators. The performance indicators include: financial perspective, average daily business volume, annual earnings, positive deviation from the countrys average price, % rise in the net profit, efficiency perspective, refusal index, fraction of fuel that is premium, % decrease in the number of customers lost due to excessive waiting time, % increase in the number of vehicles refilled, on an average, internal perspective, number of vehicles it caters to, time taken for refilling, on average, number of pumps, average waiting time, number of employees, growth perspective, increase in number of cars, % increase in fuel consumption in a month in metric ton, number of brands of fuel offered, number of additional services offered.
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