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Bunker Dashboard : Vessel Bunkering Software and Bunker Management Software
Software for Purchasing Bunkers
What is Bunker Dashboard?
- Bunker procurement ssoftware for manageing marine fuel purchases and for companies to manage their users
- Follows a systematized, auditable, time-tested enquiry process
- Incorporate into our Enterprise Software Suite |
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Benefits of our Bunker Dashboard
- Lower procurement and administrative costs by implementing faster, more
efficient enquiry coverage, confirmation and co-ordination
- Enhanced buying skills by optimising offer evaluations through includion
of non-price factors.
- Improved data gathering and reporting on company's expenditures.
Better communication and collaborative efforts across various internal
departments and external service providers |
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Controlling fuel costs are one of the single most important contributors to your bottom line.
Bunker procurement decisions today have become increasingly complicated for bunker buyers and managers forcing solutions
that are non -intuitive,
complex and multidimensional. Bunkers and purchasing costs have increased from 5% of revenue to 50-60%.
This significant change is a result of the commoditization of bunker fuel, its shrinking percentage in supply from refining and new
governmental-driven sulfur constraints. |
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Strategic Sourcing Management
Information systems help track the impact of every business decision and
transaction - but access to this information for ship owners and operators
is cumbersome at best, impossible at worst. Unfortunately most
purchasers are still handicapped with two dimensional spread sheets
which are incapable of handling the complexity of these sourcing requirements. |
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Key Values
The BunkerDashboard captures and allows:
- An extensive set of transactional data to be used in reports and gives a comprehensive solution to manage the entire bunker procurement process.
- Multidimensional analyses allow "drill down" to any combination of
vessel, fuel, port, price, supplier and cost center in the organization.
- Gain visibility of decentralized data trapped in multiple systems and
consolidate bunker spending cost categories - fuel/ port call expense
related to bunker call, fuel testing, fuel quality, surveying and non
conformance claims.
- Allows real time info with fleet bunker metrics with answers from
anywhere in the world. |
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The Result
A stronger understanding of where you stand and what needs your attention.
The BunkerDashboard measures best practice adoption and ensures policy compliance which have been hampered due to interaction of various parties
and departments in the bunker planning and optimization chain.
BunkerDashboard Features
- Customize the program with a user's setting and frequently used trading
partners and areas.
- Manage all open inquiries (RFQs).
- Manage vessel, port, supplier, agent, lab, claim, and reminder databases.
- Generate an inquiry (RFQ) to the suppliers in a port via email.
- Compare the offers received from the suppliers.
- Generate a stem confirmation between the buyer and the seller with the
buyers and sellers' relevant clauses and notifications to interested
third parties.
- Generate stem amendments and cancellations.
- Manage all closed orders.
- Initiate, track and settle claims and other non-conformance items.
- Track order documentation.
- Import vessel fuel delivery statement
- Manage fuel test result variances and fuel diet
- Track accounts payable.
- Approve payments.
- Report on business statistics and price performance. |
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Optimizers
The BunkerDashboard has built-in optimization tools that translates
into hard dollars saved on your bunker purchases. The Bunker
Dashboard optimizers collect data from underlying vessel
operations and transactional data and provides a strong
foundation for fact based planning at formulation level and review
for improvement.
It also highlights key information in the form of tables, graphics and
reports and solves the key frustration of doing manual collection and
running of data through reports and planning iterations in one place.
It also leverages LQM's sourcing experience and deep industry
expertise to deliver maximum and sustainable savings.
The degree of savings achieved is dependent on the previous buying
style of the user but are grouped into the categories of Internal
Efficiencies; Decision Support and Reporting.
Internal efficiencies
Time saving on enquiry, fixture, post fixture - studies have show that the
time saved can be conservatively estimated at 15 minutes per individual
stem - so for 20 stems per week, 5 hours per week can be saved. |
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Decision support has three elements:
1.
Timing of enquiry, timing of nomination. The ability to follow price tracking
within the system imposes a discipline on enquiry planning. This feature
is as useful in running the enquiry as it is in tracking performance of the
buying process. This is very effective for vessels with voyages about
5 days or greater.
2.
Port arbitrage. The ability to float simultaneous enquiries in three ports
for a single requirement and especially when daily volatility is
about $2-5/mt as bunkers are now a commodity and prices are influenced
by hedge fund (speculators), weather, geopolitical tensions and
weekly US Dept of Energy inventory reports' impact on crude price.
3. The ability to compare "apples with apples" removing the complexity of
offers based on different units and different delivery charges and
surcharges. Also, for larger volumes (say over 1000 mt) comparison
of typical specifications to adjust offers for typical energy content.
Element one can show savings of more than $1 per mt and is the
least noticed element of the purchase with many buyers. Element two
can be covered without the dashboard, but experience shows that it is
often ignored to save time. The savings realized are difficult to quantify
but easy to appreciate. Element three will often give savings of
$0.25-0.50/mt on the energy issue and prevent good offers from
being rejected because their format is more complex of that of a
competitor - in US ports often more than $1/mt. |
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Reporting
The structured and integrated reporting achieves a step change in
reporting efficiency and the avoidance of manual data transfer errors.
It is almost impossible to quantify for all users but on the basis of
time saved and improved accuracy of results the saving should
equate to or exceed the savings from the internal efficiency.
The Solution
The BunkerDashboard was designed by shipping professionals
for shipping professionals. It is customizable and provides a
complete turnkey solution for your bunker purchasing and
reporting needs |
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| To know more about many other features of the Commercial Suite including the Voyage Estimation software, Laytime, Calculations Software, Performance Monitoring Software, Port Disbursements (DA) software etc and for a demo, please contact us. |
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