| |AUGUST 202219procurement 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 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.
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