Years in the propane industry: 18
Please describe your role and responsibility, as well as your vision, in growing your company and connecting with propane customers of today: I manage all locations for McAdams Propane Co., as well as oversee all operations, logistics and customers for Midstream Transportation Co.
Propane industry opportunities and threats: In the current market, retail propane customers can really take advantage of lower prices. At the price point at which most retail propane companies are at this time, it is much more affordable for the customers to buy propane compared to other utilities while still maintaining a solid profit margin. Shale plays are another [opportunity]. If we can continue to drill in the shale plays around the country, we will continue to have an abundance of propane, and as a result we may be able to keep the lower prices for an extended period of time. … Losing market share [is a threat]. Even though propane is cheap at this time, natural gas is even cheaper. It takes time for companies to put in natural gas pipelines and expand their grid; however, as cheap as [propane] is right now, retail propane marketers are at risk of losing market share to this.
How then can the propane industry prosper in the coming years? Technology advancement and staying competitive with other “green fuels.”
What does your generation offer to the propane industry that previous generations did not? While we can learn so much from previous generations, the one thing our generation brings to the table is the knowledge and ability to implement the technology advancements we have already seen and be able to help and teach previous generations how to utilize these tools.
What technologies are you using (or plan to use) to support business operations? We have point-of-sale and turn-by-turn tablets in all of our bobtails and service vehicles. Customers can order gas, request service work, pay their bill and view their account online. We are implementing tank monitors on our keep-full accounts and have tracking systems on all company vehicles that not only track vehicles but also keep up with miles driven in each state, preventive maintenance on each vehicle, and the system keeps vehicle maintenance logs, as well.