MARINE INVENTORY MANAGEMENT
Since the recession of 2008-2009, the Marine Industry is steadily growing. The International Trade Association (ITA) expects the Recreational Marine Sector to expand. The ITA forecasts increasing sales, and even U.S. exports of recreational marine products are expected to grow 5 percent annually. The partnership between U.S. government and the private sector will continue to foster opportunities for further sales growth. The Marine recreational industry is primarily made up of boat building, repairing and maintenance services companies, as well as a large contingent of specialty and niche products.
Marine business owners need help accurately managing their inventory during sales or service opportunities since it is becoming an increasingly more important within the high-dollar and regulatory market. TRXio is helping these companies reduce the effort to find, organize and account for their Marine inventory.
Additionally, the U.S. Department of Commerce Commercial Service’s Marine Technology team has further defined and grouped sub-growth markets in (1) Ocean and Underwater Technology (2) Pleasure Boats and Accessories, (3) Port Equipment and Services, and (4) Shipbuilding and Related-Industries; all requiring improvements in component and sub-component tracking, logistics and inventory management.
Many used boats require new electronics installations, refits and servicing of existing equipment, and many of these business are using legacy and out dated accounting and inventory tracking platforms that helps the business track and monitor equipment, specialty items and parts. Another important focus is reducing the need for unnecessary parts in inventory, while maintaining sufficient stock for daily operations and to track specific details such as serial numbers to assist in invoicing and warranty purposes.
GROWING DEMAND FOR MARINE ASSET TRACKING
TRXio has been able to help Marine businesses spend less time tracking products and more time working on customer installations. Selling and servicing high-dollar technology, any process improves (time savings) dramatically increases productivity and profits.
TRXio has helped to improve communication between outside technicians, those inside the office and different departments to allocate which parts are assigned for a particular job, and the ability to track and monitor each part as a unique item with a detailed transaction history. TRXio helps standardize inventory management and asset tracking, it creates a more efficient and effective approach to sales and services opportunities. TRXio can also track and save time on warranty registrations, invoicing and the road-mapping of future service requirements.