Singapore-based spare parts inventory management tool integrated into ABS NS solutions

Spares CNX’s proprietary PROPELLER platform works seamlessly with a number of existing NS Enterprise software modules, including Maintenance Manager and Purchasing Manager. The PROPELLER IoT solution enables real-time accuracy across the supply chain through the use of Radio Frequency Identification (RFID) to ensure that an accurate spare parts inventory is maintained onboard individual vessels. The data from vessels is aggregated in a separate module, where Artificial Intelligence (AI) and machine learning technology generates actionable insights and recommendations for procurement and operation optimisation. A third procurement-oriented module provides shipping status updates along the supply chain through a network of spare part manufacturers, traders and freight forwarders.

“In the shipping industry, carrying excess inventory can be extremely costly and drain the bottom line,” says Evan Gooch, President of ABS Nautical Systems. “Our clients are looking for new ways to reduce investment in spare parts inventory and focus those dollars in areas that move their business forward. The PROPELLER platform is a game-changer with intelligent parts management that offers our clients greater capabilities for prioritizing, planning and supporting this cost reduction.”

“Spares CNX is bringing spares management into the 21st century,” says John Slattery, CEO of Spares CNX. “ABS Nautical Systems is a natural market partner for us because they truly understand the market’s data-driven paradigm shift and are making significant investments in their software solutions to support digitalization for their clients. Together, we are bringing new-age technologies to an old-world industry and helping shipping companies stay competitive.”