Procurement management for companies in the Maritime industry is crucial due to the volume of transactions handled by the majority of these shipping companies. Most large shipping companies often have a centralized procurement function with their own employees and standard operating procedures that they must follow.

Traditional methods of Marine Products Procurement have its inherent problems. It is highly manual and therefore subject to several inefficiencies. Typically, the entire procurement process can take 3-4 weeks, mainly due to email communication. In addition, procurement quotations, invoices, and other important records are stored in emails or spreadsheets.

  • Ship is calling different ports and different set of suppliers not enabling continuity
  • Limited suppliers per port may be available to Buyers, pricing issues
  • Buyer may need to search for appropriate supplier
  • A particular spare may not be available; loss of time and high logistic costs
  • There is possibility of no success rate for some crucial spares
  • Quality, efficiency and pricing dependent on limited choices
  • Low chance of addressing grievance and lack of customer service after procurement