Digitization and the implementation of the technology in the shipping industry are few of the most discussed topics in last year or two but shipping industry is far from being digitised and there are many companies who like to stick to old ways as many processes are still carried out manually.
Numerous players are providing comprehensive digital solutions for the shipping industry but unfortunately most of them are not finding their applications in small and medium size shipping companies. Apart from limited application of these solutions to the needs of small shipping companies, higher cost of acquisition is also one of the reason why maritime SME’s are hesitant to accept these solutions.
Various studies and research reports suggest that there is huge potential to improve the operational performance and customer service in the shipping industry by better implementation of technology
Recent times have seen emergence of number of new technology vendors who are offering customised and agile solutions for effective management of the shipping operations. But for a industry which is facing the cash crunch for some time, it is necessary to spend on the areas which will bring the maximum returns on the investments.
Following are some of the areas which must be given the priority in digitization:
1. Business Dashboard
Information system for the top management with important details and analysis for prompt decision making via dynamic vessel reports, dry dock analysis, budget deviations, banking and financial updates and impact of currencies on any given date.
2. Customer Engagement and Account Management
Nowadays, shipments are managed by number of players like shipping companies, ports, logistic operators, warehouses etc. and ability to track the assets provides the transparency to the customers and helps the companies in customer retention and better account management.
3. Vessel Utilization and Performance
Optimum utilization of the vessels is important to achieve best possible results with the available resources and overcome inefficiencies with ultimate objective of cutting down costs. With tools to monitor and optimise the distance, load, speed, operational metrics and minimize vessel downtime by more predictive approach for the maintenance, re-ordering and repair etc. best possible results can be achieved.
4. Document Management
Digital Document management to avoid the paper trails and to facilitate the document sharing, contract-agreements management, approvals docs, storage of the records etc.
5. Navigation and Route Planning
Satellite navigation helps the ship operators to manage and optimize of the route, fuel consumption and vessel management by selecting appropriate ship trajectory while ensuring navigational safety and timely arrival of cargo.
6. Human Resource Management
Tools for the effective management of the shipping personnel saves the officials from most tiring and time consuming tasks. These can include easy access and management of biodata, current and past voyage information, experience details, salary details and many other trivial but necessary tasks.
Prioritizing on these core areas for digitization will help the shipping companies to optimize the critical areas making the maximum difference. Also, it will save companies from spending on irrelevant features and modules that come with off the shelf software products.