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<h1>Maritime Procurement</h1> Procurement is a word which is used to describe the method of purchasing and getting various solutions and commodities in order for a commerce or trade to develop. This also guarantees that the commodities and solutions utilized are available in advance and are not in excess numbers. In the maritime domain, where there is a lot of commerce engaged, there are a lot of scenarios where effective procurement services are lacking, resulting in time consumption and an unnecessary amount of money. Procurement is critical in the shipping industry because the entire business is dependent on the transportation of goods from one location to another. If proper carriers are not assigned and proper attention is not given to the service of the distribution network of the particular carrier, the entire business suffers and there are huge losses; it also impacts the connections between a company and the service provider. To avoid this, various new technologies are being introduced into the maritime industry in order to make procurement more digital and trustworthy at the same time. Digitized procurement will focus on saving money and effort, a proper draft of estimation of cost can be seen in the system, allowing for a perspective and accordingly assigning the procurement services. Additionally, the digitized system will keep track of goods, ensuring that there are no shortages or excessive commodities. Furthermore, an organized and successful procurement will guarantee immediate yield and at the same time it will assure measurable savings with increase in flexibility of supply chain. Moreover, digitized procurement systems aid in the prevention of supply chain risks; because the system is digitalized, it keeps an appropriate record of all activities, and thus this data can be analysed and potential outcomes from the analysis are discussed, and the supply chain is accordingly improved; there is also a lot of clarity, and because of this clarity, many risks in supply chain operations can be prevented. Hence, if there is an excellent procurement system and process followed then it will ultimately reduce the organizations expenses and also it will enable in preventing adverse consequences. References: 1.<a href=" https://www.beroeinc.com/procurement/ ">Beroeinc</a> 2.<a href="https://www.dnv.com/services/marine-procurement-solutions-shipping-procurement-shipmanager-procurement-1532 ">DNV</a> 3.<a href=" https://www.xeneta.com/blog/ocean-shipping-services-procurement">Xeneta</a>
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