DP World has achieved massive savings and benefits since implementing iSpec in 2006
“DP World and Remy InfoSource, a leading Lifecycle Contract Management company, have been working in partnership since 2006. DP World has successfully implemented the iSpec Lifecycle Contract Management (iSpec) solution for managing its global procurement of strategic equipment. This has been a highly fruitful partnership, and DP World this month signed a three-year extended agreement with Remy InfoSource.
As a leading global and smart trade enabler, DP World recognises that innovative procurement technologies such as iSpec would allow it to stay at the forefront of the industry.
It required a more streamlined and connected solution that maintains the integrity of standardised specifications and contract documents; facilitates collaboration with global stakeholders; manages clause based tender clarifications and tender response evaluations; provides effective risk management; tracks project compliance and delivery; and ensures transparency and auditability of the entire procurement process.
The extended agreement is based on the long-term trusted relationship between DP World and Remy InfoSource. DP World will continue to leverage iSpec for strategic decision-making and management information allowing visibility, control and governance across its global business portfolio.
Remy InfoSource currently provides DP World with robust technical support for the solution; quarterly enhancements that are influenced by DP World’s requirements; and smart dashboards and reporting capabilities that have together significantly improved the efficiency of strategic equipment procurement.”
DP World underwent a rapid expansion after the acquisition of P & O ports, followed by tremendous investments in new equipment. At the time there were no global standards set and all the ports needed assistance in both expertise and management of new equipment procurement.
iSpec was developed by Remy specifically to cope with the issues of procurement of complex outsourced projects such as the acquisition of Quay Cranes and RTGs. As this was a global effort, it also had to allow for advanced collaboration and sharing of expertise and resources. iSpec was implemented and improvements were made to address all the issues of data sharing, tender evaluation, collaboration and a single point-of-truth for the massive amounts of data involved. Also as many of the ports are joint venture operations, financiers, partners, vendors, consultants, engineering and operations all needed access to the project information.
The reason iSpec is so successful is because of its functional design that embraces and ensures excellent collaboration, whether you are in HO or the terminal or the Vendor:
- All TPI reports, Drawings, Manuals etc. are all kept in project file within iSpec, and this data remains there for the life of the crane – so no more worries about losing drawings, old TPI reports, crane manuals etc. This protection of important and critical ‘legacy’ data ensures higher levels of buy-in from all stakeholders.
- Because people can track progress, interact with their project when ‘on-the-move’, on their tablets, mobile phones, work or home PC’s, it gives them freedom and ensures a broader spectrum of people are better informed and in a timelier manner.
- The iSpec solution also provides you in HO (and the terminal for that matter) the visibility needed to properly manage vendor performance whether it’s delivering a crane or parts on time, or even a simple Performance bond.