| |JULY 202219desired and necessary item on-board can be of unimaginable damage to the whole journey. However, the role of technology has been decisive in mitigating this challenge. Thanks to e-Commerce, the ship chandling task has been transformed to an online platform, wherein a maritime client can scroll through numerous items and purchase the good that fits the purpose.Moscord, a Singapore based entity has been the first to introduce the concept of online procurement in the industry. Today, crew members may place online orders directly from manufacturers and distributors of ship supplies, and have those goods delivered around the clock to a port hub or ship anywhere in the globe thanks to the independent platform of Moscord. "The lean and direct procurement process results in a better price-quality ratio and much better control of what products the crew receives onboard", says Freddy Ingemann, chief executive, Moscord.As the majority of orders are placed directly from boats based on contractual commodities, the business claims that users have reduced their overall procurement expenses by as much as 50 percent. SeaProc, a US based entity also provides e-Procurement services to clients. By using the platform the clients can gain access to real time procurement information, streamlined communications, and many other features to improve procurement management. Moreover, SeaProc is cloud based technology, thereby delivering an efficient and cost effective solution. Inventory Management SolutionWith the demand for varied amounts of goods, the requirement to maintain and store them in a proper form evolves to be critical. In the past, inventory management had been restricted to ledgers and log books but the situation today is rather different. The traditional methods of inventory management in the shipping industry were rather exhaustive and time-consuming, while also being prone to error. Of late, using a shipping software with an inventory management tool is seen to be the wiser choice. Harnessing the power of technology, especially cloud computing, inventory management has become an easier process. Several shipping softwares have the option to input details of inventory and plan for it accordingly. Supply Logic, a Malaysian based entity, has come up with a new SLM 365 that is specifically developed to fulfill the maritime needs. Along with inventory management, the SLM 365 also comes with a warehouse management solution, order fulfillment, robotic process automation and more. SLM 365 also offers an embedded AI/ML engine that helps in data anticipation.High Potential IndustryThe population of the planet is increasing exponentially. Thanks to rising living standards in many countries, there is an increase in the consumption of goods. International trade is actively developing. All these factors lead to an increase in the volume of maritime transport. In recent decades, there have been a number of mergers of large companies. Shipchandlers combine financial and production resources, accumulated experience, logistics schemes, and IT processes. The merger of companies allows us to withstand fierce competition in the supply market. In the near future, supply chain requirements will include more automation and digitalization. The competitiveness of the business will depend on the shiphandler's ability to quickly respond to customer requirements and integrate its business with the client's business. It is obvious that the shipchandling will remain relevant for a long time to come. Sea cargo transportation requires careful completion of the vessel with everything necessary. Harnessing the power of technology, especially cloud computing, inventory management has become an easier process
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