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The Role of Software Companies in Optimizing the Maritime Supply Chain

A 2017 report from PwC revealed that tech firms and logistics companies have become increasingly important in the eyes of the maritime industry.

In 2023, the role of IT decision support has become more clear than ever, and it is important for software companies to know what are the next steps that need to be taken.

Advanced Planning

Once real-time operation with all players in the maritime supply chain is possible, AI can take over decision-making processes to optimize the movement of different modes of transportation. This presents a crucial role for software companies in embedding relevant solutions in the supply chain. To achieve this, all maritime players must be ready to adopt the necessary technology. By combining data points and providing actionable insights, the intelligence brought to the market can help maritime companies take action to lower demurrage and improve terminal operations. There is a lot of potential to expand these capabilities and provide even more value to the industry.

Challenges and Opportunities

While there are a lot of difficulties in implementing advanced planning, such as the need for all players in the supply chain to be ready and collaborative, the potential for value creation is enormous. Companies like Vopak are currently managing 1,500 parameters manually every day, but with AI and algorithms, they can optimize operations and decision-making processes for clients. Ports, in particular, could benefit from this approach, especially considering that the lack of real-time data will result in inefficiencies and demurrage costs.

The Importance of Collaboration

Collaboration between corporations and startups is essential to optimize decision-making processes. No single party can be aware of all the parameters being taken into account in decision-making processes. However, with combined knowledge and monitoring, companies can optimize operations and plan for the future.

The future of maritime software companies and information providers in the global supply chain lies in their ability to integrate real-time data and AI into decision-making processes. As the industry moves towards advanced planning, software companies have a vital role to play in optimizing operations and ensuring that all players in the supply chain are ready for the next stage. Collaboration between corporations and startups is key to success, as it enables combined knowledge and monitoring, leading to optimized decision-making processes and a more efficient global supply chain.

Teqplay believes in the value that software companies can bring to the industry. Collaboration lies at the heart of Teqplay’s values, and together with partners like Vopak, we aim to build a better future for the maritime supply chain with our expertise and a deep understanding of the maritime world.

Mai Zaki | Account Manager at Teqplay

Passionate about #portcall, #supplychain, #optimization, #digitalinsights, and the #maritimeindustry.