Thanks to the ever-evolving global business landscapes, the oil and gas industry has become highly competitive. With international interests, changing international diplomacies and an increased interest of countries like China, the Oil and Gas production industry is no longer what it used to be a few years ago.

In the past, inventory management had been restricted to ledgers and log books but the situation today is rather different. The traditional methods of inventory management in the shipping industry were rather exhaustive and time-consuming, while also being prone to error. Of late, using a shipping software with an inventory management tool is seen to be the wiser choice. Harnessing the power of technology, especially cloud computing, inventory management has become an easier process. Several shipping softwares have the option to input details of inventory and plan for it accordingly. 

Why a smart Inventory Management system onboard ships is the better option

  1. Maintenance of digital lists for a comprehensive view of inventory 
  2. Updated real-time info on stock movement 
  3. Detailed inventory summary 
  4. Ability to personalise and define catalogues and products 
  5. Option of integration with the purchasing system 
  6. Creation of requisition lists 
  7. Follow-up on procurement of orders placed 
  8. Simplified stock entry process when ordered stock is procured 

To put it simply, inventory management onboard ships allows the user to get an eagle-eye and real time view of the consumables stock, to keep track of all updates made to the stock (additions and removals), management of the supplies and procure what’s needed prior to them running out. The process conserves time that would otherwise be spent by the crew on a tedious process of manual data entry.