Procurement in the Shipping Industry

In today’s fast-paced business landscape, the ability to streamline and optimize procurement processes is of utmost importance. Automating with eprocurement has become a critical success factor for companies looking to stay ahead of the curve and improve their bottom line. By an maritime EPR procurement software, you are provided with a user-friendly interface and electronic handling of:

• Orders
• Requisitions
• Invoices
• Inventory
• Reporting
• Budget and cost control

By digitizing the procurement, a company gain advantages such as:

• Streamlined and centralized purchasing processes
• Improved inventory management
• Reduced costs with automation
• Better supplier communication
• Decision making based on analytics data
• Greater accuracy and reduction of human error
• Improved compliance and reduced risk of fines

Read all the benefits

Invoice Management in the shipping industry operates through the use of specialized software that automates the invoicing process. It allows for companies to digitally capture and store invoices, streamline invoice approval, and manage vendor payments.

It streamlines the process from ship to shore e.g. from the crew being able to request parts on the ship efficiently to office staff easily being able to handle invoices to sharing information with external stakeholders.

Highlights of invoice management:

1# Inventory management
It is key to be able to manage information about components, locations, jobs, history, certificates and spare parts. Inventory Management offers an overview of your inventory, which is essential when it comes to the maintenance and procurement processes of your fleet.

2# Syncs with you ERP system
By syncing the existing system, you have better financial control with purchase orders in real time and constant access to invoice information. This enables you to synchronize master data of your fleet with minimum effort in one shared data source rather than several individual digital and/or manual systems.

 Discover more highlights

Selecting the appropriate system for maritime procurement can be a challenging task due to the presence of multiple variables to consider. Identifying a company’s needs and goals is crucial as it provides a clear understanding of the requirements and objectives the system must align. Start by asking yourself the questions:

• Do my vessels need constant access to the system?
• Should the system be able to integrate with other systems?
• Do we need to centralize data?
• How user-friendly should the system be?

Ask other procurement managers or experts is also a great opportunity.

Get more advices on how to choose the right system