Maintain Cost-Efficient Bunker Consumption Through Shipping Software

Carrier operators are recently shaken up by significant developments involving one of the world’s largest oil suppliers. The shock comes after Denmark-based oil supplier OW Bunker has filed for bankruptcy this year, citing up to $750 million in debt due to alleged fraud. Analysts say this will spark a domino effect as carrier managers are hard-pressed to find alternative suppliers and make up for exposed amounts. Increases in the market price of fuel are also feared. This spells only tough times ahead for many carrier operators, especially those without shipping management software.

It is essential in the maritime services sector to adopt cost-efficient ways to stay afloat in such a volatile industry. It is volatile in the sense that it experiences numerous events that challenge profitability, such as OW Bunker’s filing for bankruptcy. Such scenario has prompted an increase in the demand for effective marine software solutions.

However, companies that already have integrated shipping management software are well-prepared to meet such challenges and shipping software companies have already churned out a variety of cost-saving solutions that profess better management of bunker consumption regardless of various scenarios.
Prior to the development of integrated shipping software, carriers relied on structural modifications to render their vessels more fuel efficient. For instance, modified fins can be considered for better speed regulation. The downside to this is that modification costs a fortune and takes a long time to install. Modern shipping on the other hand relies on digitizing speed calculation and management through intelligent voyage calculation. The system automatically estimates and determines ideal vessel speeds. It makes complex calculations that can accurately identify fuel-efficient speeds without compromising on-time deliveries, in a sense leading to bunker savings.

Other factors such as weather conditions and technical failures also pose risks to effective fuel consumption. Operators are powerless with regards to these, which is why they need a shipping software system that mitigates the effects of such scenarios. An intelligent voyage calculation system can make precise estimates as to current position and voyage duration. It then recommends a wide-range of actions that the crew can undertake to keep fuel intake within ideal limits while minimizing, if not eliminating, delivery delays.

Marine software solutions also allow for effective fuel management. There are software options that feature accurate fuel usage estimates using sophisticated operations. The software determines the actual consumption needs of the vessel, singling out the “cappuccino effect” which usually happens when filling up the vessel’s engine. With sophisticated bunker management software, monitoring bunker activities can work like a breeze. Carriers can breathe a sigh of relief knowing that they are consuming bunker volumes actually needed for particular voyages. Imagine the savings it entails!

Commercial shipping management has come a long way. From making manual estimates on bunker consumption, carrier operators now use marine software solutions to face a variety of challenges to their revenue generation. Despite difficult times ahead for the bunker fuel market, carrier operators can continue making money through automated fuel management processes.

Facilitate Greater Productivity With Custom Software Solutions

While building and deploying an advanced application, executives and managers need to decide between purchasing or developing a software. The turnkey software applications come with a series of standard features for performing a set of standard functions. Thus, if you are somewhat struggling to meet the business requirements with the existing software application, then a custom software solution can serve you the best.

Having a dynamic software architectural approach helps in increasing the efficiency level throughout the entire organization, thereby saving your company’s money. Thus, shifting your focus to deploy intuitive applications acts as the ideal choice that hosts the following benefits.

Improving Collaboration and Communication

It offers solutions which, ensure prompt communication at every phase of the organization. It means the employees will be able to share ideas faster and interact with multiple clients and vendors via a unified platform. Furthermore, it helps the management to track the workflows better, share strategies, financial data, presentations and business forecasts effectively and assign work to employees systematically.

Improving Efficiency and Productivity

This software architectural approach helps in encountering the unique problems and fix them through deployment of technology. These solutions help in improving the productivity including automation of the company’s shipping process, proper management of the human resource and payroll issues and allowing clients to make quick purchases via an eCommerce platform.

Implementing Newer Customization

These solutions help in transforming through customization as because it’s better to use a software which, fits the business goals and requirements instead of modifying the business goals to suit a turnkey solution. New customization helps the business to grow rapidly.

Facilitating Greater Integration

Organizations mostly deploy different programs for performing different tasks. But, with custom software solutions, you will be able to integrate with the multiple processes. As a result, it helps in performing the tasks easier which, needed the usage of a set of different programs earlier, thereby helping in simplifying the amount of data.

Improving Scalability

With the progress of a company, turnkey solutions are able to cope with the expansive business operations. However, these solutions help the company to deploy the programs effectively which, scale to support growth of the organisation.

Different businesses need different solutions to meet different requirements. On the contrary, turnkey solutions do not come with ability of meeting the diverse and demanding requirements of companies across all industrial domains. Thus, developing and deploying a custom software will help you to meet the specific business needs and streamline your business efficiently.

Advantages of Shipping Software Solutions

Over the past few years, automation of business processes has been accepted by almost every industry, be it, telecommunication, aviation, banking and many more. Shipping industry also accepted it as automation simplifies many crucial shipping operations that requires expertise and is consumes a lot of time. Choosing shipping software that integrates with your work flow and for a long-term business growth and sustainability is a crucial task.

Below I have listed out few points to elaborate the advantages of shipping software.

1. Comprehensive

Shipping software is more comprehensive as removes the change of human error and is an innovative approach to shipping process.

2. Affordable

Traditionally most of the large-scale shipping companies still rely on 3rd party logistics or hiring a logistics expert to manage their logistics operation. Hiring a logistics expert or a 3rd party logistics requires huge and recurring investment. But shipping software can be implemented by any small or big business owners as it is cost effective, simple to use and gives appropriate results.

3. Full control of shipping arrangements

Most of the shipping companies face the problem of lack of communication when their logistics operation is handled by 3rd party logistics company. A logistics or shipping software effectively place the power of logistics function in the hands of shipping companies by providing an easy user-customer interface, making it an ideal transportation management program.

4. Excellent delivery time

Logistics software benefits the companies by improving their shipping time and reducing the cost of shipping process including warehouse management. It examines the optimal integrated transportation solution that suits the transportation of goods.

5. Record Maintenance

A logistics or shipping software maintains a database to store the records required for keeping a track of the various processes associated with the supply chain. The software can manage, distribute, keep a check on warehousing, maintain inventory, transportation details and expenses and also presents a customer-friendly service option.

6. Easy to Operate

Shipping software comes with an easy to understand user interface that reduces learning curve, so even if you don’t have a logistics background you can easily operate it. The software easily gets integrated with a company’s already existing transportation procedure which is another advantage of it.

Now that I have listed out all the advantages of shipping software, you can easily make out the effectiveness and usage of it over hiring a 3rd party logistics company. Business needs to be handled smartly to reach on the top. Today technology is ruling every industry and the one who stays updated with the latest technology is the master in his area of business.

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