A SIMPLE, COMPREHENSIVE SOLUTION TO ONE OF THE MORE COMPLEX CHALLENGES IN FUEL-INVENTORY CALCULATIONS.
Background
A Time Charter (TC) is a contract in which a vessel owner hires the vessel to a charterer for a specific period of time. The contract also records the fuel (Bunkers) on the vessel in the times of deliver and redelivery.
Challenge
The different scenarios around TC Bunkers are confusing and sometimes not implemented in a simple direct way. The number of support inquiries we got around this topic was one of the highest we’ve tracked, and our clients were not happy. The relevant forms had many confusing fields and checkboxes, and it was tough to find someone who understood what to expect exactly. Once in a while we tried fixing one of the bugs, but that usually only caused more issues since the whole foundation was fragile.
Solution
We needed to rethink the whole TC Bunkers functionality. We had the following guidelines:
The solution cannot be complicated for the user
We have to cover the majority of reasonable business scenarios
We had to maintain backwards compatibility as those figures had direct impact on the P&L
Photo by Bernd Dittrich on Unsplash