Press Release: Shipserv releases new monitoring and analytics tool

 Press Release: ShipServ, a maritime e-procurement platform, has announced the launch of the ‘Supplier Performance Report’, the latest addition to its monitoring and analytics tools. The Supplier Performance Report provides shipowners and managers using ShipServ with a host of key data on the procurement performance of every supplier that they use, enabling them to analyse trends, and identify where improvements can be made, so that relationships with suppliers can be enhanced and fully optimised.

The Supplier Performance Report brings together a host of procurement metrics and data on every supplier that a shipowner or manager has traded with through ShipServ over a specific period, from 12 weeks to three years. This includes transaction totals, quote, and win rates, response times, through to price and time sensitivity analysis, most commonly bought items and spend history, as well as the quality level, and payment terms that have been quoted. This data is compiled into an easy-to-use, online report, which is updated daily.

Unique to ShipServ, the tool shows procurement teams two benchmarks: an individual supplier against the average of all suppliers trading with them, and also against an average of all suppliers trading on ShipServ.

The data from the Supplier Performance Report highlights key procurement trends, and indicates where improvements can be made to create a better and more effective working relationship between the buyer and the supplier. For example, slow response times or high quote variances could be due to poor data or catalogue management, which, once identified, can be positively addressed to drive improvements.

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