Maritime fuel procurement or ‘bunker’ buying is central to shipping operations. Buying decisions, selecting the right supplier and managing the fuel delivery schedule, all have a direct impact on your company’s profitability; yet many shipping operators are using outdated maritime software, store valuable data in multiple locations or buy fuel in a way that simply doesn’t meet the demands of today’s dynamic markets.
Using these kinds of systems can impact decision making, result in off spec bunkering and lead to operational issues.
To avoid such costly errors and to be ready to take full advantage of the opportunities out there, it’s advisable to upgrade existing systems and look to implement the very latest fully integrated end-to-end cloud-based maritime software solutions available.
7 ways to simplify maritime procurement using maritime software.
Moving away from outdated maritime procurement processes and disparate maritime software systems will automate processes, deliver operational efficiency and make a significant contribution to your company’s profitability.
By implementing the very latest cloud-based maritime software solutions you can transform when, where and how you buy maritime fuel and deliver a wide range of benefits to your bunker purchasing team and company as a whole:
- Effectively manage your entire maritime procurement process from start to finish.
The latest cloud-based maritime software can be used to fully automate you maritime fuel purchases handling everything from a full RFP fuel management process through to managing operations, inventory, invoicing and claims.
- Improve negotiations and secure the best deals with suppliers.
By using maritime software you can easily record all purchases from suppliers, run price comparisons, identify sales tactics, and identify fuel quality and quantity issues. Doing all this gives you the ability to choose the right supplier at the right port so you can secure the best deals.
- Minimize operational and counterparty risk.
By recording supplier details in your maritime software you start to build a good understanding of how each supplier operates, the quality and quantity of fuel supplied etc. You can then use that information to manage and minimize operational and counterparty risks.
- Drive efficiency and reduce operational errors.
Most maritime software applications like Shiptech for example will include some form of best practice workflows as part of the procurement process. These workflows streamline operations, reduce errors and improve operational efficiency.
- Efficiently manage cash flow, invoicing, and make your capital work for you.
With the inclusion of a financial management application, optimize cash flow, maximize the availability of credit, and efficiently process and handle invoicing.
- Make faster decisions.
With information held centrally in most maritime software applications, all management accesses the same data. Reporting is faster and decision making easier.
- Access the latest software and work securely from any location.
Use cloud-based products and you’ll always be using the very latest maritime software on the market and provided you have access to the internet and have the appropriate password your teams can securely access your software 24/7 from any location. Cloud products are also be easily scalable so will grow with your business.
Shiptech – game changing maritime software for bunker buyers.
Shiptech, Inatech’s end-to-end maritime software platform is built on the latest technology and designed to deliver the insights your company needs, to make informed maritime procurement decisions based on fuel price, quality, compatibility and availability. Its comprehensive range of applications gives your buyers the tools to plan earlier, negotiate more effectively, handle new fuels (0.5%) by fully automating and optimizing the maritime procurement process.
To book a demo or for more information click here.