Online Vessel Business Risk Management System

The shipping industry is associated with huge internal economies of scale and where demand is closely tied to the fortune of industries such as iron ore, oil and coal but also to the world economic cycle. This are looking grim for shipping operators who have bet hundreds of millions of dollars on expanding a fleet for which there is now substantially less demand.  As the Oil, Gas and Offshore industries are going through an unprecedented growth, for shipping companies to become more competitive at the same time increase revenue, they have to monitor their operation cost; to ensure their ships in good conditions; and to provide excellent quality services to its clients. Opulens SA Sdn Bhd, an Independent Software Vendor (ISV) with MSC status, has taken a major step to develop a state of art solution which able to help shipping companies to monitor their vessels operation thru its eNAViS.

Online Vessel Business Risk Management System or eNAViS is a system used for storing, protecting, processing, securing, transmitting, receiving and retrieving information from ship to the head office. In business establishments, eNAViS System is used for solving data disorientation and logical problems. It helps in project management system and operational risk management. Firstly, planning is done, then the data is collected, sorted and processed and finally, results are generated. It helps top management and executives to inquire about a particular problem, conceive its complexity and generate new products and services, thereby improving their productivity and output. eNAViS System helps the industry, shipping especially, to move into more control environment has to manage information and provide advantage in decision making.

 eNAViS is an Operational Risk Management System that oversight of operational risk, including the risk of loss resulting from inadequate or failed internal processes and systems, human factors, or from external events. Practically, eNAViS System covers in the third level of Operational Risk Management (ORM) that is time critical risk management that is used during operational exercise or execution of tasks. It is define as the effective use of all available resources by individuals, crews, and teams to safely and effectively accomplish the mission or task using risk management concepts when time and resources are limited. From the statistical report provided by the eVBRM data mining and analysis tool, it provides the following principles:

·         Accept risk when benefits outweigh the cost

·         Accept no unnecessary risk

·         Anticipate and manage risk by planning

·         Make risk decision at the right level

Can ship industry stay strong and becoming more competitive, in response to the needs of the national and international markets & regulations? It is possible with eNAVIS System...